Laker Incorporated's fiscal year-end is December 31, 2024. The following is an adjusted trial balance as...

 

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Laker Incorporated's fiscal year-end is December 31, 2024. The following is an adjusted trial balance as of December 31. Debit $10,300 30,500 21,500 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals Required: 1. Prepare the necessary closing entries. 2. Calculate the ending balance of Retained Earnings. 3. Prepare a post-closing trial balance Required 1 Required 2 View transaction list No 1 2,300 18,300 11,300 8,300 6,300 $108,800 Complete this question by entering your answers in the tabs below. Required 3 Date December 31, 2024 View journal entry worksheet Credit Service Revenue $1,300 13,000 31,500 7,300 55,700 $108,800 General Journal Debit Credit S H 01 5 Laker Incorporated's fiscal year-end is December 31, 2024. The following is an adjusted trial balance as of December 31. Debit $10,300 30,500 21,500 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends D Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals 2,300 18,300 11,300 8,300 6,300 $108,800 Required: 1. Prepare the necessary closing entries. 2. Calculate the ending balance of Retained Earnings. 3. Prepare a post-closing trial balance Required 1 Required 2 Required 3 Calculate the ending balance of Retained Earnings. Retained earnings Credit $108,800 $1,300 13,000 31,500 7,300 55,700 Complete this question by entering your answers in the tabs below. < Required 1 Required 3 > Laker Incorporated's fiscal year-end is December 31, 2024. The following is an adjusted trial balance as of December 31. Debit $10,300 30,500 21,500 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals Required: 1. Prepare the necessary closing entries. 2. Calculate the ending balance of Retained Earnings. 3. Prepare a post-closing trial balance Required 1 Required 2 View transaction list No 1 2,300 18,300 11,300 8,300 6,300 $108,800 Complete this question by entering your answers in the tabs below. Required 3 Date December 31, 2024 View journal entry worksheet Credit Service Revenue $1,300 13,000 31,500 7,300 55,700 $108,800 General Journal Debit Credit S H 01 5 Laker Incorporated's fiscal year-end is December 31, 2024. The following is an adjusted trial balance as of December 31. Debit $10,300 30,500 21,500 Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends D Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals 2,300 18,300 11,300 8,300 6,300 $108,800 Required: 1. Prepare the necessary closing entries. 2. Calculate the ending balance of Retained Earnings. 3. Prepare a post-closing trial balance Required 1 Required 2 Required 3 Calculate the ending balance of Retained Earnings. Retained earnings Credit $108,800 $1,300 13,000 31,500 7,300 55,700 Complete this question by entering your answers in the tabs below. < Required 1 Required 3 >