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It says im missing something in the journal entries, but I dont know what it could be. The Sky Blue Corporation has the following adjusted
It says im missing something in the journal entries, but I dont know what it could be.
The Sky Blue Corporation has the following adjusted trial balance at December 31. Credit Debit $ 1,380 3,500 3,800 4,500 19,500 $ 5,600 6,920 1,750 4,400 Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense Total 3,900 1,600 450 55, 530 24,600 2,800 5,720 2,900 7,500 4,400 $81,050 $81,050 Prepare a statement of retained earnings for the year. SKY BLUE CORPORATION Statement of Retained Earnings For the Year Ended December 31 Balance, January 1 $ 1,600| Add: Net Income 8,060 Less: Dividends 450 Balance, December 31 $ 9,210 Prepare closing journal entries on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet Credit No 1 Date Dec 31 Debit 55,530 450 General Journal Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense 24,600 2,800 5,720 2,900 7,500 4,400 2 Dec 31 450 Retained Earnings Dividends 450Step by Step Solution
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