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B AutoSave C# Assignmente2(CH3) - Word Search Fiza Gang (gargt) EG File Home Insert Design Layout References Mailings Review View Help Share Comments Title Dictate Find Replace Select Editing Sensitivity Copy Peste Format Painter Clipboard Editor Calibri (Dody: 12A A Aa A E AT Aabbceod Aabbccod Aabba Aabbccc AaB AabbCD ABCD BIU*, *' ADA EEE 1 Nommal 1 . 1 1 No Spac, Heading 1 Heading 2 Subtitle Subtle Em Font Paragraph Styles 1.2.1.1.1.171.2.1.3.14.1.5 1.6 1.7.1.3.1.9.1 10.11 .12 - 13.1.11:1.15 16 17 18 19 Voog Sensbury Editor Q2. Using the information below from the records of Creative Recreation Co. at December 31, 2017 (amounts in thousands) to answer the required questions, Cost of services sold Accumulated depreciation General admin. expense Income tax expense Income tax payable 10,500 17,800 6.900 400 Retained eamings, Dec 31, 2016 Other revenue Depreciation expense Dividends Service revenue 1.900 500 4,100 400 23,600 300 Required: ✓ Prepare the required closing entries for the following selected accounts. How much net income did Creative Recreation Co. earn during the year ended December 31, 2017? Prepare a T account for Retained Earnings to show the December 31, 2017, balance of Retained Earnings COM2010. CIDOS & CHUN 2020 Fall Assignment cha) Due on October Q3. Consider the unadjusted trial balance of Aztec Ltd. al October 31, 2017, and the related month-end adjustment data, Page 1 of 3 360 words English (Unted States) D. Focus EI Type here to search OBI AD) ENG 11:51 PM 2020-09-20 P

Answer 1

Answer(1) Date Dec, 31 Credit Account Service Revenue Other Revenue Income Summary Debit $23,600 500 $24,100 Dec, 31 $22,000 Income Summary Cost of Service Sold General Admin. Expense Depreciation Expense Income tax Expense $10,600 6,900 4,100 400 Dec, 31 $2,100 Income Summary Retained Earnings $2,100 Dec 31 $400 Retained Earnings Dividends $400 Answer(2) Net Income $2,100

Answer(3) Retained Earnings For the year ended December 31 2017 Particulars Amount Particulars Dividends $400 Beg. Balance Ending Balance 3,200 Net Income $3,600 Amount $1,500 2,100 $3,600