After closing revenues and expense, Alomar Company shows the following account balances. Dividends ...... $22,000 Retained Earnings

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After closing revenues and expense, Alomar Company shows the following account balances.
Dividends ...... $22,000
Retained Earnings .. 70,000
Income Summary ... 36,000 (credit balance)
Prepare the remaining closing entries at December 31.

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Accounting Tools for Business Decision Making

ISBN: 978-1118128169

5th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Apr 07, 2014 10:40 AM

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After closing revenues and expense, Alomar Company shows the following account balances. Dividends ...... $22,000 Retained Earnings

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