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I need help with 34-39 Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following
I need help with 34-39
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense Rent expense Interest expense Dividends $654,000 789,000 456,000 65,000 12,000 250,000 Prepare the closing entries. 34. $_ In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. $ In preparing the closing entries for the temporary accounts, how much should Retained earnings be debited? 36. $ _ After closing the accounts, what is the ending balance in Retained Earnings? Use the following for questions 37-39 T Corp has provided their accounts in alphabetical order. Use these accounts to answer the following questions. Accounts payable $15,000 Accounts Receivable 26,000 Accumulated depreciation 75,000 Cash 20,000 Common stock 350,000 Depreciation expense 25,000 Dividends 60,000 Equipment 850,000 Deferred revenue 30,000 Notes payable 200,000 Rent expense 20,000 Retained earnings 189,100 Salaries expense 356,000 Service revenue 500,000 Supplies 200 Supplies expense 1,900 37. $. Total current assets _Book value of the equipment 38. $_ 39. $ Net incomeStep by Step Solution
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