Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 9 The following information was pulled from the adjusted trial balance of ABC Company. Total Revenues $50,000 Total Expenses $24,000 Total Dividends $4,000 Retained
Question 9 The following information was pulled from the adjusted trial balance of ABC Company. Total Revenues $50,000 Total Expenses $24,000 Total Dividends $4,000 Retained Earnings $126,000 L Assuming you make 4 closing entries, what amount should be debited or credited to retained earnings in the third closing entry? Enter your answer without a dollar sign or comma. For a debit, enter as a positive number. For a credit, enter as a negative number. Enter zero if this account is not debited or credited.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started