AP3-11.

a) Prepare the necessary closing entries for Zoe Developments at Jan 31.

b) Determine the ending Retained Earnings account balance

os account balnce 3-11 Closing entries and ending Retained Earnings balance) tively, AW ing cash. AWL's fe of five years d below are the balances from Zo Developments Ltd's general ledger as at January 31, 2016 DR 56,000 135,000 124,000 CR Cash Accounts receivable Inventory Prepaid expenses Equipment Accumulated depreciation, equipment Accounts payable Unearned revenue Wages payable Common shares Retained earnings Dividends declared Sales revenue Interest revenue Cost of goods sold Depreciation expense Wages expense Utilities expense Insurance expense mpany to shipping times six months' 5,000 361,000 m for the ered the tank hat it will be 120,000 32,000 5,000 11,000 103,000 88,000 ary. e paid on 21,000 count. The 956,000 19,000 560,000 10,000 41,000 9,000 12,000 weeks of the