Use the Entertainment Centre Ltd. data in S3-12 to make the company's closing entries at March 31,

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Use the Entertainment Centre Ltd. data in S3-12 to make the company's closing entries at March 31, 2014. Then set up a T-account for Retained Earnings and post to that account. Compare Retained Earnings' ending balance to the amount reported on ECL's statement of retained earnings and balance sheet. What do you find? Why is this important?
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Financial Accounting

ISBN: 978-0133472264

5th Canadian edition

Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin

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