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Prior to its month end close, South Mountain Co's accounting records showed the following balances: Retained Earnings $16,800 Service Revenue $21,750 Interest Revenue $ 1,800
Prior to its month end close, South Mountain Co's accounting records showed the following balances:
Retained Earnings | $16,800 |
Service Revenue | $21,750 |
Interest Revenue | $ 1,800 |
Salaries Expense | $12,300 |
Operating Expense | $3,450 |
Interest Expense | $ 900 |
Dividends | $ 2,700 |
After closing, South Mountain Co.'s retained earnings balance would be:
After closing,
$16,800 | ||
$23,700 | ||
$21,000 | ||
$26,400 |
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