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now do you find the retained earnings account? Review Test: Practice for Test #2: 75% Required -AND-90%+ Stron core: 0.96 of 1 pt ( 5 of 21 S5-9 (similar to) Robinson RV Center's accounting records include the following accounts at December 31, 2018 (Click the icon to view the accounts and balances.) Requirements 1. Journalize the required closing entries for Robinson 2. Determine the ending balance in the Retained Earnings account. Requirement 1. Joumalize the required closing entries for Robinson. (Record debits first, then credits. Select the explanation on Start by closing the revenue accounts for the period. Do not close expenses, we will do this in the next step. Date Credit Dec. 31 Accounts and Explanation Sales Revenue Interest Revenue Income Summary Debit 675,000 8,000 683,000 To close revenue accounts. Close expenses for the period. Date Accounts and Explanation Credit Debit 411,000 Dec 31 Income Summary Move your pointer over or tap on the cells with red arrows to see incorrect answers. - GREENVILLE ACCT. 2301 Review Test: Practice for Test #2: 75% Required -AND-90%+ Strol Score: 0.96 of 1 pt 5 of 21 S5-9 (similar to) Robinson RV Center's accounting records include the following accounts at December 31, 2018 (Click the icon to view the accounts and balances.) Requirements 1. Journalize the required closing entries for Robinson 2. Determine the ending balance in the Retained Earnings account Close expenses for the period. Debit Credit Date Dec. 31 411,000 Accounts and Explanation Income Summary Cost of Goods Sold Rent Expense Depreciation Expense--Building 369.000 32,000 10.000 To close expenses Close Income Summary Date Accounts and Explanation Debit Credit Move your pointer over or tap on the cells with red arrows to see incorrect answers, C 12 Aos o Pinterest mathal.com Paris Junior Cole 240 Tutoring From the JFK fios. New JFK assassina. Lite of John F. Ken SP 2020 - GREENVILLE ACCT. 2301 Review Test: Practice for Test #2: 75% Required -AND-90%+ S Score: 0.96 of 1 pt 5 of 21 S5-9 (similar to) Robinson RV Center's accounting records include the following accounts at December 31, 2018 II (Click the icon to view the accounts and balances.) Requirements 1. Journalize the required closing entries for Robinson, 2. Determine the ending balance in the Retained Earnings account To close expenses Credit Close Income Summary Date Accounts and Explanation Dec. 31 Income Summary Retained Earnings Debit 272,000 272,000 To close Income Summary Close Dividends. Date Accounts and Explanation Credit Debit 54,000 Dec. 31 Retained Eamings Move your pointer over or tap on the cells with red arrows to see incorrect answers. MacBook Air s Co mathul.com 00 Potret Paris Anier Cole 24 ore From the New K e dah. H AN Geren SP 2020 - GREENVILLE ACCT, 2301 Review Test: Practice for Test #2: 75% Required -AND-90%+ Strongly Er Score: 0.96 of 1 pt 5 of 21 > S5-9 (similar to) Robinson RV Center's accounting records include the following accounts at December 31, 2018 (Click the icon to view the accounts and balances) Requirements 1. Journalize the required closing entries for Robinson 2. Determine the ending balance in the Retained Earnings account. To close Income Summary Close Dividends. Date Accounts and Explanation Credit Debit 54.000 Dec 31 Retained Earnings Dividends 54,000 To close dividends. Requirement 2. Determine the ending balance in the Retained Eamings account. The ending balance in the Retained Earnings account at December 31, 2018 252.800 Move your pointer over or tap on the cells with red arrows to see incorrect answers. MacBook Air ock