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Sliva [168]
3 years ago
9

The trial balance of Barger Company at the end of the accounting period, immediately prior to recording closing entries, showed

the following: Debit credit Cash 16,000 Land 30,000 Notes payable 19,400 Common stock 9,000 Retained earnings 14,000 Service revenue 43,000 Expenses 38,400 Dividends 1,000 Total $ 85,400 $ 85,400 What will the balance of the retained earnings account be after the closing entries are recorded
Business
1 answer:
sesenic [268]3 years ago
8 0

Answer:

The balance of the retained earnings account after the closing entries are recorded will be $17,600

Explanation:

Net income of Barger Company = Service revenue - Expenses = $43,000 - $38,400 = $4,600

The balance of the retained earnings account after the closing entries are recorded = The balance of the retained earnings account before the closing entries are recorded + Net income - Dividends  = $14,000 + $4,600 - $1,000 = $17,600

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More accurate estimates and higher motivation are generally the result of using a(n) Blank______ budget. Multiple choice questio
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More accurate estimates and higher motivation are generally the results of using a(n) participative budget.

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Which of the following is the basis for Justice Ginsberg's opinion that Guido and
ira [324]

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8 0
2 years ago
Sales to customers who use bank credit cards such as mastercard and visa are usually recorded by:a. Debit to Cash and a credit t
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Answer:

c. Debit to Bank Credit Card Sales, debit to Credit Card Expense, and a credit to Sales

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