Rocky RV Center's accounting records include the following accounts at December 31, 2018. Requirements 1. Journalize the
Question:
Requirements
1. Journalize the required closing entries for Rocky.
2. Determine the ending balance in the Retained Earnings account.
Transcribed Image Text:
Cost of Goods Sold Accounts Payable Rent Expense Building Common Stock $ 372,000 Accumulated Depreciation-Building 16,000 Cash 26,000 Sales Revenue 113,000 Depreciation Expense-Building 115,000 Dividends 83,100 Interest Revenue 239,600 $ 38,000 47,000 636,500 13,000 58,000 Retained Earnings Merchandise Inventory Notes Receivable 14,000 34,000
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Requirement 1 Date Accounts and Explanation Debit Credit Dec 31 Sales Revenue 636...View the full answer
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Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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