The adjusted trialbalance prepared as of December 31, for Phyllis Howell & Company, Consultant, contains the following revenue and expense accounts: Debit Credit Service Fees Earned $80,400 Rent Expense $20,900 Salaries Expense 45,800 Supplies Expense 5,700 Depreciation Expense 10,300 Retained Earnings 67,100 Dividends 9,100 Prepare journal entries to close the accounts directly to Retained Earnings. After these entries are posted, what is the balance in the Retained Earnings account? ASS Finis

After the accounts have been adjusted at May 31, the end of the fiscal year, the following balances were taken from the ledger of Haverty Services Co.: Retained Earnings $693,360 Dividends 29,000 Fees Earned 591,920 Wages Expense 385,200 Rent Expense 92,400 Supplies Expense 34,670 Miscellaneous Expense 11,555 Journalize the two entries required to close the accounts. If an amount box does not require an entry, leave it blank.         Nov. 30 Fees Earned  fill in the blank 2 fill in the blank 3   Wages Expense  fill in the blank 5 fill in the blank 6   Accounts Payable  fill in the blank 8 fill in the blank 9   Supplies Expense  fill in the blank 11 fill in the blank 12   Miscellaneous Expense  fill in the blank 14 fill in the blank 15   Retained Earnings  fill in the blank 17 fill in the blank 18         Nov. 30 Retained Earnings  fill in the blank 20 fill in the blank 21   Dividends  fill in the blank 23 fill in the blank 24

Selected accounts of Sparkle Electrical, Inc., at June 30, 2018, follow. Begin by closing out the revenue accounts. Close out the expense accounts. Close out the Dividends account What is Sparkle Electrical, Inc.'s Retained earnings balance at June 30, 2018? Sparkle Electrical, Inc.'s Retained earning balance at June 30, 2018 is S Create the journal entrys as stated above and find out the retained earning balance.

State assumptions and answer accordingly. Assume December 31st year-end, unless otherwise stated. Assume all amounts are normal balances, unless otherwise stated. Jp holdings ending trial balance from july 31, 2000 is below. You were hired as the accountant on august 1 and your task is to complete the accounting cycle for the year end of august 30. The company prepares adjusting journal entries monthly, which means the adjusting entries for july were prepared properly by the former accountant. Debit Credit Cash $ 8,660 Accounts receivable 7,440 Supplies 1,600 Equipment Accumulated depreciation- equipment 30,000 $ 3,000 Accounts payable 6,200 Salaries payable 1,400 Unearned revenue 800 Common shares 20,000 Retained earnings 16,300 $47,700 $47.700 During July, the following transactions were completed: Paid employees $2,200 for salaries due, of which $1,400 was for july salaries payable and $800 for august. June. 6 Received $5,400 cash from customers in payment of accounts. 11 Received…

The ledger of Mai Company includes the following accounts with normal balances as of December 31: Retained Earnings $9,000; Dividends $800; Services Revenue $13,000; Wages Expense $8,400; and Rent Expense $1,600. Prepare its December 31 closing entries. 1 Record the entry to close revenue accounts.   2 Record the entry to close expense accounts.   3 Record the entry to close the income summary account.   4 Record the entry to close the dividends account.

After the accounts have been adjusted at September 30, the end of the fiscal year, the following balances were taken from the ledger of Cabriolet Services Co.: Retained Earnings $779,870 Dividends 28,000 Fees Earned 713,215 Wages Expense 448,200 Rent Expense 107,600 Supplies Expense 40,340 Miscellaneous Expense 13,445 Journalize the two entries required to close the accounts. If an amount box does not require an entry, leave it blank.         Nov. 30                                                       Nov. 30

Prepare an adjusted trial balance from the following account information, considering the adjustment data provided (assume accounts have normal balances). If an amount box does not require an entry, leave it blank. Accounts Payable $11,100 Accounts Receivable 17,600 Administrative Expense 59,000 Cash 46,000 Common Stock 33,000 Prepaid Insurance 16,300 Service Revenue 94,800   Adjustments needed: • Salaries due to administrative employees, but unpaid at period end, $2,300. • Insurance still unexpired at end of the period, $12,200.

Identify whether each of the following accounts would be listed in the company’s Post-Closing Trial Balance.

Sheridan Company shows the following balances in selected accounts of its adjusted trial balance. Supplies $24,320 Supplies Expense 4,560 Accounts Receivable 9,120 Dividends 16.720 Retained Earnings 53,200 Service Revenue 82,080 Salaries and Wages Expense 30,400 Utilities Expense 6,080 Rent Expense 13,680 Prepare the remaining closing entries at December 31. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Dec. 31 Dec. 31 Dec. 31 Dec. 31 (To close revenue account to Income Summary) (To close expense accounts to Income Summary) (To close net income to retained earnings) (To close dividends to retained earnings) Debit Credit