Prepare journal entries to close the accounts directly to

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Reference no: EM13585500

The adjusted trial balance prepared Decembers 31, for Cheryl Fontaine & Company, shipping agent, containds the following accounts:

Comissions earned (+CR) $84,900

Wages Expense (+DR) $36,000

Insurance Expense (+DR) $1,900

Utilities Expense (+DR) $8,200

Depriciations Expense (+DR) $9,800

Dividenda (+DR) $12,000

Common Stock (+CR) $50,000

Retaind Earnings (+CR) $22,100

Prepare journal entries to close the accounts directly to retained earnings. After these entries are posted, what is the ending balance in the retained earnings account?

The adjusted trial balance prepared Decembers 31, for Cheryl Fontaine & Company, shipping agent, containds the following accounts:

Comissions earned (+CR) $84,900

Wages Expense (+DR) $36,000

Insurance Expense (+DR) $1,900

Utilities Expense (+DR) $8,200

Depriciations Expense (+DR) $9,800

Dividenda (+DR) $12,000

Common Stock (+CR) $50,000

Retaind Earnings (+CR) $22,100

Prepare journal entries to close the accounts directly to retained earnings. After these entries are posted, what is the ending balance in the retained earnings account?

Reference no: EM13585500

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