Assume that the first two closing entries have been made and posted. Use the T-accounts provided as
Question:
Assume that the first two closing entries have been made and posted. Use the T-accounts provided as follows to:
A. Complete the closing entries
B. Determine the ending balance in the Retained Earnings account
Transcribed Image Text:
Debit Income Summary 212,000 Credit Dividends Retained Earnings Bal. 7,500 277,500 Bal. 45,900
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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