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The following financial information was taken from the books of Zone Health Club, a small spa and fitness club: OOK int Account Balances as of
The following financial information was taken from the books of Zone Health Club, a small spa and fitness club: OOK int Account Balances as of December 31, Year 2 Accounts receivable Accounts payable Salaries payable Cash Dividends Operating expense Prepaid rent Rent expense Retained earnings, Beginning Salaries expense Service revenue Supplies Supplies expense Common stock Unearned revenue Land $29,800 7,860 11,400 42, 200 4,900 2,380 3,900 17.300 20, 300 30, 800 79. 400 470 2,430 16,300 6,920 13, 700 int Required a. Prepare the journal entries necessary to close the temporary accounts at December 31, Year 2 for Zone Health Club b. What is the balance in the Retained Earnings account after the closing entries are posted? Journal entry worksheet B > Record entry to close service revenue. Note: Enter debits before credits Event General Journal Debit Credit 1 Record entry Clear entry View general journal Journal entry worksheet Record entry to close expenses. ok Note: Enter debits before credits Event General Journal Debit Credit 2 nces Record entry Clear entry View general journal Pley 1 of 2 Hii Next > Journal entry worksheet Complete this question by entering your answers in the tabs below. Required A Required B What is the balance in the Retained Earnings account after the closing entries are posted? Retained Earnings, Year 2 Beginning retained earnings es Ending retained earings M
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