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Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense Rent expense Interest expense Dividends $446,200 669,800 334,500 22,000 8,500 150,000 Prepare the closing entries to Income Summary and Retained Earnings. 34. $ 35. $. In preparing the CLOSING ENTRIES for the temporary accounts, how much should Retained Earnings be credited? In preparing the CLOSING ENTRIES for the temporary accounts, how much should Retained Earnings be debited (total amount of the debits)? After closing the accounts, what is the ending balance in Retained Earnings? 36. $
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