Before you begin this assignment, review the Tying It All Together feature in the chapter. It will also be helpful if you review Hyatt Hotels Corporation’s 2018 annual report (https://www.sec.gov/Archives/edgar/data/1468174/000146817419000009/h10-
k123118.htm#sE3993A8AD84040710041937D19B26344).
Hyatt Hotels Corporation is headquartered in Chicago and is a leading global hospitality company. The company develops, owns, and operates hotels, resorts, and vacation ownership properties in 60 different countries. For the year ended December 31, 2018, Hyatt Hotels reported the following select account information (in millions):

Requirements

1. Journalize Hyatt Hotels Corporation’s closing entries at December 31, 2018.
2. Determine Hyatt Hotels Corporation’s ending Retained Earnings balance at December 31, 2018.
3. Review the Hyatt Hotels Corporation’s balance sheet included in the 2018 annual report and find ending Retained Earnings, December 31, 2018. Does your ending Retained Earnings calculated in Requirement 2 match?

Transcribed Image Text:

Revenue Selling, general, and administrative expense Other Income Interest Expense Income Tax Expense Dividends Retained Earnings, December 31, 2017 $ 4,454 4,122 695 76 182 68 3,118