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The following balances appear on the books of Harvey Tilman Enterprises: Retained Earnings, $ 20 comma 900; Dividends, $ 4 comma 400; Income Summary, $0;
The following balances appear on the books of Harvey Tilman Enterprises: Retained Earnings, $ 20 comma 900; Dividends, $ 4 comma 400; Income Summary, $0; Service Revenue, $ 21 comma 200; Salaries Expense, $ 7 comma 300; Rent Expense $ 4 comma 500; and Advertising Expense, $ 3 comma 500. All accounts have normal balances. 1. The T-accounts have been set up for you. Insert each account's adjusted balance as given (denote as Adj. Bal.) at December 31. 2. Post the closing entries to the accounts, denoting posted amounts as Clos. 3. Compute the ending balance of Retained Earnings
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