Answer:
b) update the Retained Earnings account.
Step-by-step explanation:
A major purpose of preparing closing entries is to - update the Retained Earnings account.
Retained earnings are defined as those profits, that a company has earned to date minus any dividends or other money paid to investors.
Whenever we make an entry to the accounting records, that affects a revenue or expense account, this retained earning amount is adjusted.
£42.75
find 5% and deduct it from there.
hope this helps x
Answer:
18
Step-by-step explanation:
you times it
If x+1,000=4 what’s your answer
