Grand Rapids Consulting Inc. began 2011 with a retained earnings balance of $38,100 and has the following

Question:

Grand Rapids Consulting Inc. began 2011 with a retained earnings balance of $38,100 and has the following accounts and balances at year-end:

Required:
1. Prepare the closing entries made by Grand Rapids Consulting at the end of 2011.
2. Prepare Grand Rapids Consulting€™s retained earnings statement for 2011.

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Cornerstones of Financial and Managerial Accounting

ISBN: 978-1111879044

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

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Question Posted: Sep 22, 2015 02:39 AM

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Grand Rapids Consulting Inc. began 2011 with a retained earnings balance of $38,100 and has the following

Question:

$162,820 Supplies Expense Sales Revenue Salaries Expense Rent Expense Utilities Expense 91,660 11,250 Dividends (declared and paid 8,415 4,348 13,800 8,400 Taxes Expense

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Cornerstones of Financial and Managerial Accounting

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