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NEED 3 NUMBERS, ONE WILL BE 0$ Moore Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable $28,550 15,710 8,010
NEED 3 NUMBERS, ONE WILL BE 0$
Moore Company had the following adjusted trial balance: Account Titles Debit Credit Cash Accounts Receivable $28,550 15,710 8,010 44,100 Supplies Equipment Accumulated Depreciation $9,300 Accounts Payable 4,530 Deferred Rent Revenue 1,590 Capital Stock 37,050 Retained Earnings 23,400 Dividends 15,300 Commission Revenue 50,100 6,700 Rent Revenue Depreciation Expense Utilities Expense 6,900 8,900 5,200 $132,670 Supplies Expense Total $132,670 The president of Moore Company has asked you to close the books (prepare and process the closing entries) Required: After the closing process has been completed, answer the following questions: During the closing process, what amount was transferred from the income summary account to the Retained Earnings account in the third closing entry (i.e., after revenue and expense accounts have been closed to Income Summary)? $ What is the balance in the utilities expense account? $ What is the balance in the Retained Earnings account? $0 5Step by Step Solution
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