Question:
The following are the pre-closing balances of the accounts at the end of the year, except for the balance of retained earnings. Determine the post-closing balance of the retained earnings account by arranging the accounts into a trial balance format and closing all temporary accounts appropriately. All accounts have "normal balances".
Cash 13,285
Accounts Payable 12,295
Revenue 105,900
Cost of Goods Sold 25,279
Inventory 5,806
Mortgage Payable 84,793
Wages Payable 1,339
Wages Expense 23,563
Depreciation Expense 6,643
Accumulated Depreciation 17,289
Treasury Stock 5,280
Paid-in Capital 44,844
Building 193,137
Prepaid Expenses 4,545
Supplies Expense 4,924
Answer:
i would have to do this on excel spreadsheet. if you give me your email address i will send it to you.
More Questions & Answers...
Is there a formula I can use to calculate a mutual fund price (various stocks) before market close?
I recently came into 65k. How should I invest it.?
Share Builder help please ?
What is a smart way to save your money for retirement or even a rainy day?
What are the differences of the mutual funds,government funds, index funds and what is the best way to put my?
What is a money market account and how do you track its activity?how is it better than stock-based mutualfund?
Canadian investing questions?
International Stocks in a Roth IRA?