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how to get B? Shown below is SweetCocoon Compay sc-period ledger accounts before closing entries are posted. What amount will be posted to retained earnings
how to get B?
Shown below is SweetCocoon Compay sc-period ledger accounts before closing entries are posted. What amount will be posted to retained earnings in the process of closing the Income Summary account? (Assume all accounts have normal balances) Sales Revenue Unearned Revenue Rent expense Salaries expense Prepaid expense Insurance expense Depreciation Expense-Equipment Accumulated Depreciation-Equipment Loss on sale of equipment Dividends 36,000 8,600 3,600 7,200 5,800 920 500 1,500 800 12,000 A. $10,980 credit VB. $22,980 credit C. $15,680 credit D. $24,280 credit Step by Step Solution
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