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please help me with tbhs discussion post. thank you. Please follow the instructions highlighted in blue: Assume you are a senior accountant and have been
please help me with tbhs discussion post.
Please follow the instructions highlighted in blue: Assume you are a senior accountant and have been assigned the responsibility for making the entries to close the books for the year. You have prepared the following four entries and presented them to your boss, the chief financial officer of the company, along with the company CEO, in the weekly staff meeting: Service revenue $522,000 Income summary $522,000 Income summary 463,520 Promotional expenses 48,520 Salaries expense 375,500 Travel expenses 39,500 Income summary 58,480 58,480 Retained earnings 28,000 Dividends 28,000 * As the CEO was reviewing your work, he asked the question, "What do these entries mean? Can we learn anything about the company from reviewing them?" Provide an explanation to give to the CEO about what the entries reveal about the company's operations this year. Retained earnings thank you.
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