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On December 31, 2018, Ditka Inc. had Retained Earnings of $276,800 before its closing entries were prepared and posted. During 2018, the company had service

On December 31, 2018, Ditka Inc. had Retained Earnings of $276,800 before its closing entries were prepared and posted. During 2018, the company had service revenue of $177,100 and interest revenue of $85,800. The company used supplies in the amount of $92,400, advertising expenses were $17,300, salaries and wages totaled $19,650, and income tax expense was calculated as $15,500. During the year, the company declared and paid dividends of $6,900.

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How do you prepare entries dated December 31, 2018.

How do you 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.

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