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The following financial Information was taken from the books of Zone Health Club, a small spa and fitness club: Account balances of December 31, Yes.
The following financial Information was taken from the books of Zone Health Club, a small spa and fitness club: Account balances of December 31, Yes. Accounts receivable Accounts payable salaries payable Cao Dividends Operating expense Prepaid rent Rent expense Retained earnings, Beginning Salaries expense Service revenue Supplies Supplies expense Common stock Unearned revenue Land $ 27,800 7,390 12,000 41,600 4,500 2,720 3,500 7,100 20,800 30,700 81,800 370 2,430 18,500 7,160 13,600 Required a. Prepare the journal entries necessary to close the temporary accounts St December 31, Year 2 for Zone Health Club. b. What is the balance in the Retained Earnings account after the closing entries are posted? Complete this question by entering your answers in the tabs below. Required A Required Prepare the journal entries necessar close the temporary accounts at December 31, Year 2, for Zone Health Club. (If no entry is required for a transaction/event, sele No Journal entry required in the first account feld.) View transaction liat Journal entry worksheet B > Record entry to close service revenue. Noter Enter debits before credits Event General Journal Debit Credit 1 Record entry Clear entry View general Journal 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? 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 Eamingo, Yoar 2 Beginning retained earnings Ending retained earnings Required A Required
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