Use the below information to answer the question. Partial List of Accounts A/P = 50,000...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Use the below information to answer the question. Partial List of Accounts A/P = 50,000 A/R = 600,000 Accumulated Depreciation = 45,000 Unearned Revenue = 33,000 Cost of Goods Sold = 9,000,000 Gain on Equipment (Sale) = 13,000 Interest Expense = 87,000 Inventory = 60,000 Loss on Equipment = 70,000 Property, Plant, & Equipment = 300,000 Sales = 11,555,000 Utilities Expense = 95,000 What will be the second number in the amount closed into retained earnings? Will you debit or credit retained earnings (net amount)?
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: Zin AI - Your personal assistant for all your inquiries!
