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On December 31, 2018, Ditka Inc. had Retained Earnings of $275,800 before its closing entries were prepared and posted. During 2018, the company had service

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On December 31, 2018, Ditka Inc. had Retained Earnings of $275,800 before its closing entries were prepared and posted. During 2018, the company had service revenue of $176,100 and interest revenue of $85,300. The company used supplies in the amount of $91,900, advertising expenses were $17.200, salaries and wages totaled $19,500, and income tax expense was calculated as $15,300 During the year, the company declared and paid dividends of $6,800. 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. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the closing entries dated December 31, 2018. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the entry for closing dividend account. Note: Enter debits before credits General Journal Dobit Credit Transaction 2 Record entry Clear entry View general Journal On December 31, 2018, Ditka Inc. had Retained Earnings of $275,800 before its closing entries were prepared and posted. During 2018, the company had service revenue of $176,100 and Interest revenue of $85,300. The company used supplies in the amount of $91,900, advertising expenses were $17,200, salaries and wages totaled $19,500, and income tax expense was calculated as $15,300. During the year, the company declared and paid dividends of $6,800. 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. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the closing entries dated December 31, 2018. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet B Record the entry for closing revenue and expense account. Note: Enter debts before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Required A Required B>

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