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On December 31, 2018, Ditka Inc. had Retalned Eamings of $277.800 before lts closing entries were prepared and posted. During 2018, the company had service
On December 31, 2018, Ditka Inc. had Retalned Eamings of $277.800 before lts closing entries were prepared and posted. During 2018, the company had service revenue of $178.100 and Interest revenue of $86,300. The company used supplies In the amount of $92900, advertising expenses were $17400, salarles and wages totaled $19,800, and Income tax expense was calculated as $15,700. During the year, the company declared and pald dividends of $7000. Required: a. Prepare the closing entrles dated December 31, 2018. Complete this question by entering your answers in the tabs below Required AReqied 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 revenue and expense account. Transaction General Journal DebitCredit Record entry Clear enty View gnral joumal Journal entry worksheet Record the entry for closing dividend account. Note: Enter devis before cred Transaction General Journal DebitCredit Record entry Clear enty View gnral joumal Required Required 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 Retained Earnings Beg. Bal Required A Required B
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