Use the Entertainment Centre Ltd. data in S3-12 to make the company's closing entries at March 31,
Question:
Use the Entertainment Centre Ltd. data in S3-12 to make the company's closing entries at March 31, 2017. 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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CLOSING ENTRIES March 31 Net Revenues 174500 Retained Ea...View the full answer
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Related Book For 
Financial Accounting
ISBN: 978-0134564142
6th Canadian edition
Authors: Walter Jr. Harrison, Charles T. Horngren, C. William Thomas, Greg Berberich, Catherine Seguin
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