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Please answer questions 5 - 8. Thank you! Use the information below to complete questions 5-8. GOMEZ COMPANY Selected Accounts Month ending April 30, 2017
Please answer questions 5 - 8. Thank you!
Use the information below to complete questions 5-8. GOMEZ COMPANY Selected Accounts Month ending April 30, 2017 Adjusted Trial Bal. Account Title Dr. Cr. Retained Earnings 25,800 Dividends 3,500 Service Revenue 14,000 Salaries and Wages Expense 9,450 Rent Expense 500 Depreciation Expense 600 Interest Expense 50 5. Close the Revenue and Expense accounts to Income Summary 6. Close Income Summary to Retained Earnings 7. Close Dividends to Retained Earnings 8. What is the final balance in Retained Earnings when steps 5-7 are completeStep by Step Solution
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