The Retained earnings account has a credit balance or $52,000 before closing entries are made. Services revenue for the period is $70.200, wages expense is $47.300 and dividends are $15,000 W in the correct closing entry for the revenue accounta? Mile Choice Dabit Stevices Mavere 570,200, eredetained an $5,000 Doble Service Revenue 570.200. credite income Summary 570200 Don Services over $82,000 crored for $3,000 O Det income Summary 152.000 credit indfanings 152.000 Det income Summary 570.300cred Services tevenue 110.200 A company made no adjusting entry for accrued and unpaid employee salaries of $9,200 on December 31. Which of the following statements is true? Multiple Choice It will understate net income by $9.200. It will understate expenses and overstate net income by $9.200. O It will have no effect on income. It will understate assets by $9,200. It will overstate assets and liabilities by $9.200. The following information is available for Cubic Company before closing the accounts. Aner all closing entries are made, what will be the balance in the Retained earnings account? Net income $ 96,600 Retained earnings Dividends 33,000 94,000 Multiple Choice 5804400 5221200 596,00 50.600 STOG High Step Shoes had annual revenues of $193,000, expenses of $107700, and paid dividends of $21.200 during the current yeat The retained earnings account before closing had bence of $305,000. The ending retained earnings balance she closing is: Multiple Choice $300300 O $64300 OS2000 O $92.000 O Sa. 300