PART A:

Instructions

Prepare the year end closing entries for Eagles Corp.

PART B:

What is the balance of retained earnings for Eagles Corp after closing entries?

Presented below is an alphabetical list of 2015 pre-closing account balances nerchandising company. Assume all accounts have normal balances Accounts Accounts Payable Accounts Receivable Accumulated Depreciation Administrative and General Expenses Buildings Cash Common Stock Cost of Goods Sold Depreciation Expense Dividends (Common Stock) Equipment Interest Expense Land Prepaid Rent Retaine Earnings, Beginning Balance Sales Revenue Selling Expenses Unearned Revenue Balance 4,000 9,000 14,000 9,250 73,000 20,000 25,000 104,000 2,500 4,000 14,500 1,000 40,000 2,000 43,000 357,000 82,000 4,250