Question: please explain what im doing wrong i dont understand retained earnings or what less expenses mean???? Required a. Prepare the journal entries necessary to close



please explain what im doing wrong i dont understand retained earnings or what less expenses mean????
Required a. Prepare the journal entries necessary to close the temporary accounts at December 31, Year 2, for Zone Health Club. b. What is the balance in the Retained Earnings account after the closing entries are posted? \begin{tabular}{|l|} \hline Beginning Retained Earnings \\ \hline Add: Revenue \\ \hline Less: Expenses \\ \hline Less: Dividends \\ \hline Ending Retained Earnings \\ \hline \end{tabular}
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
