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Use the following to answer questions 27-29 The Company had the following Net Income (Loss) 204 - 200. Determine their Ending Retained Carinas amount for
Use the following to answer questions 27-29 The Company had the following Net Income (Loss) 204 - 200. Determine their Ending Retained Carinas amount for each year. (Keep you answer "in millions like the example, The Company (in Millions) Ending Retained Year Net Income or (Loss) Dividends Tarnings 20A $1.20 $0.00 $1.20 27. 20B $3.33 $2.00 28. 200 ($0.50) $0,25 29. 200 $3,75 $3.00 Use the following to answer questions 34 - 36 equipment The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense Rent expense Interest expense $300,000 550,000 300,000 40,000 10,000 45,000 Dividends Prepare the closing entries to Income Summary and Retained Earnings. 34. $ In preparing the CLOSING ENTRIES for the temporary accounts, how much should Retained Earnings be credited? 35. $ In preparing the CLOSING ENTRIES for the temporary accounts, how much should Retained Earnings be debited (total amo 36. $ After closing the accounts, what is the ending balance in Retained Earnings
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