The following information is available from the adjusted trial balance of the Harris Vacation Rental Agency. After closing entries are posted, what will be the balance in the Retained earnings account? Total revenues Total expenses Retained earnings Dividends Multiple Choice $65,000. $95,000. $130,000. $145,000. $280,000. $ 125,000 60,000 80,000 15,000

Use the information from the Adjusted Trial Balance and Financial Statement templates provided in the module under Test 2 information you completed to answer questions 36 - 50. (Also copied below.) For Question 36, how much revenue should be recorded on the Income Statement? Elliptical Consulting Adjusted Trial Balance For the Year Ended June 30, 2019     Account Title       Debit       Credit Cash 27,000   Accounts Receivable 53,500   Supplies 900   Office Equipment 30,500   Accumulated Depreciation – Office Equipment   6,000 Accounts Payable   3,300 Salaries Payable   375 Jayson Neese, Capital   82,200 Jayson Neese, Drawing 2,000   Fees Earned   60,000 Salary Expense 32,375   Supplies Expense 2,100   Depreciation Expense 1,500   Miscellaneous Expense 2,000         Totals 151,875 151,875   Notice that the accounts are listed in order of the accounting…

Select all that apply Vance Co. allows employees to take a two week vacation each year. To account for the two weeks off each year, Dante will record an adjusting entry to which of the following accounts? Multiple select question. Credit to Salaries and Wages Payable. Credit to Cash. Debit to Cash. Credit to Vacation Benefits Payable. Debit to Vacation Benefits Expense. Debit to Salaries and Wages Expense.

Applying the matching principle Suppose on January 1, Andrew’s Tavern prepaid rent of $16,800 for the full year. On November 30, how much rent expense should be recorded for the period January 1 through November 30?