Question: Blue Bird Centre Ltd . ( BBCL ) reported the following data at March 3 1 , 2 0 2 0 , with amounts in

Blue Bird Centre Ltd

. (

BBCL

)

reported the following data at March

31, 2020,

with amounts in

thousands:

1 .

Make the

company's closing entries at March

31, 2020 .

2 .

-

account for Retained Earnings has been opened for you. Post to that account.

3 .

Compare the Retained

Earnings' ending balance to the amount reported on BBCL

'

s statement of retained earnings and balance sheet. What do you

find? Why is it

important?

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