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Need help solving On 2018, the company had service revenue of $175,100 and interest revenue of $84,800. The company used supplies in the amount of
Need help solving
On 2018, the company had service revenue of $175,100 and interest revenue of $84,800. The company used supplies in the amount of $91,400, advertising expenses were $17,100, salaries and wages totaled $19,350, and income tax expense was calculated as $15,100. During the year, the company declared and paid dividends of $6,700 r 31, 2018, Ditka Inc. had Retained Earnings of $274,800 before its closing entries were prepared and posted. During Required a. Prepare the closing entries dated December 31, 2018. b. Prepare T-account for the Retained Earnings account. Enter the beginning balance into the T-account, post the closing entries, and then determine the ending balance Step by Step Solution
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