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Rivera Company had the following adjusted trial balance: Debit Credit Account Titles Cash Accounts Receivable $27,350 17,830 7,770 41,900 Supplies Equipment Accumulated Depreciation Accounts Payable
Rivera Company had the following adjusted trial balance: Debit Credit Account Titles Cash Accounts Receivable $27,350 17,830 7,770 41,900 Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue $9.900 3,510 2,270 18,170 23,900 Capital Stock Retained Earnings Dividends 13,800 Commission Revenue 64.900 6,800 Rent Revenue Depreciation Expense 6,000 9,600 Ulities Expense Supplies Expense 5,200 $129,450 Total $129,450 Required: After the closing process has been completed, answer the following questions: $0 During the closing process, what amount was transferred from the Income summary account to the Retained Earnings account in the third closing entry (le, after revenue and expense accounts have been closed to Income Summary)? What is the balance in the Retained Earnings account? $0 What is the balance in the depreciation expense account? so
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