On 12/31, Retained Earnings has a beginning balance of $10,000 before any closing journal entries have...

 

Transcribed Image Text:

On 12/31, Retained Earnings has a beginning balance of $10,000 before any closing journal entries have been recorded. A partial listing of account balances for both permanent and temporary accounts before closing journal entries is listed below (as of 12/31). After the closing journal entries are recorded to close out the temporary accounts, what is the new balance in the retained earnings account? Account Balance Deferred Revenue Service Revenue Accumulated Depreciation Rent Expense Dividends $6,000 $5,000 $3,000 $3,000 $1,000 Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 On 12/31, Retained Earnings has a beginning balance of $10,000 before any closing journal entries have been recorded. A partial listing of account balances for both permanent and temporary accounts before closing journal entries is listed below (as of 12/31). After the closing journal entries are recorded to close out the temporary accounts, what is the new balance in the retained earnings account? Account Balance Deferred Revenue Service Revenue Accumulated Depreciation Rent Expense Dividends $6,000 $5,000 $3,000 $3,000 $1,000 Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123

Answer rating: 100% (QA)

Account Deferred Service Accumulated Deprec... View the full answer