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T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the t-accounts and calculate ending balances for each
T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the t-accounts and calculate ending balances for each account. For accounts that have a zero balance, enter the zero on the normal balance side. Use the acronym for closing entries as post references and include Bal. references where appropriate. For the Income Summary account, calculate and enter the Balance (Bal.) before posting the entry to close out the account.
Need help figuring out the Balance of Retained Earnings Plz
HINT Activity 3.c- Post to the ledger T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the t-accounts and calculate ending balances for each account. For accounts that have a zero balance, enter the zero on the normal balance side. Use the acronym for closing entries as post references and include Bal. references where appropriate. For the Income Summary account, calculate and enter the Balance (Bal.) before posting the entry to close out the account. Incoma summany Dac. 31 Doc. 31I Incame summary 150,00 Retainad Earnings 69,000 Ta case Income summary Accounts and Explanation Accounts and Explanation Debit Credit Rstained Earnings Dec. 3 Inccme Summary 81.000 3.000 8,000 8,000 Intcrezt Experss Rent Expense elar es Expense 5,000 upplies Experse 27.000 To uuse Experse ant Expense Adi, Bal 13000 d, Bel HINT Activity 3.c- Post to the ledger T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the t-accounts and calculate ending balances for each account. For accounts that have a zero balance, enter the zero on the normal balance side. Use the acronym for closing entries as post references and include Bal. references where appropriate. For the Income Summary account, calculate and enter the Balance (Bal.) before posting the entry to close out the account. Incoma summany Dac. 31 Doc. 31I Incame summary 150,00 Retainad Earnings 69,000 Ta case Income summary Accounts and Explanation Accounts and Explanation Debit Credit Rstained Earnings Dec. 3 Inccme Summary 81.000 3.000 8,000 8,000 Intcrezt Experss Rent Expense elar es Expense 5,000 upplies Experse 27.000 To uuse Experse ant Expense Adi, Bal 13000 d, Bel
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