Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / On December 31, 2018, Ditka Inc

On December 31, 2018, Ditka Inc

Accounting

On December 31, 2018, Ditka Inc. had Retained Earnings of $287,800 before its closing entries were prepared and posted. During 2018, the company had service revenue of $188,100 and interest revenue of $91,300. The company used supplies in the amount of $97.900, advertising expenses were $18,400, salaries and wages totaled $21,300, and income tax expense was calculated as $17,700. During the year, the company declared and paid dividends of $8,000. Required: a. Prepare the closing entries dated December 31, 2018. b. Prepare T-account for the Retained Earnings account. Enter the beginning balance into the T-account, post the closing entries, and then determine the ending balance. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the closing entries dated December 31, 2018. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet
Journal entry worksheet ? B > Record the entry for closing revenue and expense account. Note: Enter debits before credits. Transaction General Journal Debit Credit
Journal entry worksheet ? B Record the entry for closing dividend account. Note: Enter debits before credits. Transaction General Journal Debit Credit 2
Required A Required B Prepare T-account for the Retained Earnings account. Enter the beginning balance into the T-account, post the closing entries, and then determine the ending balance. Retained Earnings Beg. Bal End. 

Option 1

Low Cost Option
Download this past answer in few clicks

2.89 USD

PURCHASE SOLUTION

Already member?


Option 2

Custom new solution created by our subject matter experts

GET A QUOTE

Related Questions