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help with requirement two Requirement 2. AT-account for Retained Eaming has been set up for you. Post to the account. The colate Whiteglove's net income

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image text in transcribedhelp with requirement two
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Requirement 2. AT-account for Retained Eaming has been set up for you. Post to the account. The colate Whiteglove's net income for the year anded January 31, 2016. What is the ending balance of Retained Earnings? Post the beginning balance and closing is to Retained ning in the account by selecting the respective posting references and then entering the correct amounts. Determine the ending balance Retained Eaming 13000 Beginning balance 13000 51900 Ending balance 51900 The accounts of Whiteglove Services, Inc., at January 31, 2018, are listed in alphabetical order. (Click the icon to view the accounts.) Read the requirements. Requirement 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize Whiteglove's ck Record the closing entries for Whiteglove at January 31, 2018. Begin by closing the revenue account. Journal Entry Date Accounts Credit Debit 95,500 (1) Jan 31 Service Revenue Retained Earnings 95,500 Next, close the expense accounts Date Credit Debit 43,600 (2) Jan 10,500 Journal Entry Accounts 31 Retained Earnings Advertising Expense Depreciation Expense Interest Expense Salary Expense Supplies Expense 2,000 300 26,500 4,300 Now close the dividends account. Journal Entry Accounts Date Credit Debit 13,000 (3) Jan 31 Retained Eamings Dividends 13,000 Requirement 2. A T-account for Retained Earnings has been set up for you. Post to that account. Then calculate Whiteglove's net income for Post the beginning balance and closing entries to Retained Earnings in the T-account by selecting the respective posting references and then Retained Earnings Clo (3) 13000 Beginning balance 13000 51900 Ending balance 51900 v $ $ Accounts payable Accounts receivable Accumulated depreciation, equipment Advertising expense 300 15,700 14,500 5,000 Cash 12,600 Interest expense 16,400 Note payable, long term Other assets, long-term 6,900 Prepaid expenses 10,500 Retained earnings, 17,800 January 31, 2017 5,700 Salary expense Salary payable 1,200 Service revenue 2,000 Supplies 13,000 Supplies expense 41,700 Unearned service revenue 13,000 26,500 Common stock Current portion of long-term note payable Depreciation expense-equipment Dividends declared Equipment 2,700 95,500 3,900 4,300 ---- 2,600 Date (3) Jan 31 Retained Earnings Dividends Requirement 2. A T-account for Retained Earnings has been set up for you. Post the beginning balance and closing entries to Retained Earnings in the T Retained Earnings 13000 | Beginning balance 13000 Clo (3) 51900 51900 Beginning balance Clo (1) Clo (2) Clo (3)

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