Question

1. Using the following selected accounts of Juba Electrical, Inc. at September 30, 2013, prepare the entity’s closing entries:
Common Shares ......... $17,000
Service Revenue ......... 49,000
Unearned Revenues ......... 2,500
Salary Expense ......... 21,900
Accumulated Depreciation ...... 32,600
Supplies Expense ......... 2,300
Interest Revenue ......... 300
Interest Expense ......... 2,400
Accounts Receivable ......... $14,000
Retained Earnings ......... 7,900
Salary Payable ............ 700
Depreciation Expense ......... 5,000
Building Rent Expense ......... 5,600
Dividends ........... 14,000
Supplies ........... 2,300
2. What is Juba Electrical’s ending retained earnings balance at September 30, 2013?


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  • CreatedJuly 08, 2015
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