Seminoles Corporations fiscal year-end is December 31, 2015. The following is a partial adjusted trial balance as of December 31st.

Prepare the necessary closing entries.

Calculate the ending balance of Retained Earnings.

Seminoles Corporation's fiscal year-end is December 31, 2015. The following is a partial adjusted trial balance as of December 31. Accounts Debit Credit $30,000 50,000 Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense $3,000 6,000 15,000 6,000 3,000 11,000 5,000 Prepare the necessary closing entries Calculate the ending balance of Retained Earnings