The following information is available from the adjusted trial balance of the Harris Vacation Rental Agency.
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
$ 150,000
Total expenses
72,000
Retained earnings
96,000
Dividends
18,000
Homework Answers
rate positively ..
| Computation of retained earning balance | |||
| Beginning balance = | 96000 | ||
| Add | Revenue | 150000 | |
| Less | Expenses | -72000 | |
| Less | dividend | -18000 | |
| Ending retained earning balance | 156000 | ||
| therefore answer = | 156000 |
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The following information is available from the adjusted trial balance of the Harris Vacation Rental Agency.
The following information is available from the adjusted trial balance of the Harris Vacation Rental Agency
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? $$ \begin{array}{lr} \text { Total revenues } & \$ 185,000 \\ \text { Total expenses } & 88,800 \\ \text { Retained earnings } & 118,400 \\ \text { Dividends } & 22,200 \end{array} $$
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