Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. "post the closing entries and balance the accounts

"Post the closing entries and balance the accounts from the retained earnings, dividends, income summary,...

90.2K

Verified Solution

Question

Accounting

"Post the closing entries and balance the accounts from the retained earnings, dividends, income summary, service revenue, maintaince and repairs expense, depreciation expense, insurance expense, salaries and wages expense, and utilities expense please.
I am confused on how to properly post the closing entries to this problem on the table given. I attempted but the red boxes in that section are wrong.
image
image
image
image
Post the closing entries and balance the accounts. (Post entries in the order of journal entries presented in the previous part.) Retained Earnings No. 320 12/31 19100 12/31 22800

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students