subject
Business, 24.02.2020 18:06 MayFlowers

On December 31, 2018, Ditka Inc. had Retained Earnings of $278,800 before its closing entries were prepared and posted. During 2018, the company had service revenue of $179,100 and interest revenue of $86,800. The company used supplies in the amount of $93,400, advertising expenses were $17,500, salaries and wages totaled $19,950, and income tax expense was calculated as $15,900. During the year, the company declared and paid dividends of $7,100. Required: Prepare the closing entries dated December 31, 2018. 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.

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 13:00
Ronald works for a small biotech firm. when the firm presents the results of its clinical trials to the fda, ronald realizes that the results are not accurate. he reports this to the fda. ronald is a(n)
Answers: 3
question
Business, 22.06.2019 08:10
Exercise 15-7 crawford corporation incurred the following transactions. 1. purchased raw materials on account $53,000. 2. raw materials of $45,200 were requisitioned to the factory. an analysis of the materials requisition slips indicated that $9,400 was classified as indirect materials. 3. factory labor costs incurred were $65,400, of which $50,200 pertained to factory wages payable and $15,200 pertained to employer payroll taxes payable. 4. time tickets indicated that $55,000 was direct labor and $10,400 was indirect labor. 5. manufacturing overhead costs incurred on account were $81,700. 6. depreciation on the company’s office building was $8,100. 7. manufacturing overhead was applied at the rate of 160% of direct labor cost. 8. goods costing $89,400 were completed and transferred to finished goods. 9. finished goods costing $76,000 to manufacture were sold on account for $105,100. journalize the transactions. (credit account titles are automatically indented when amount is entered. do not indent manually.) no. account titles and explanation debit credit (1) (2) (3) (4) (5) (6) (7) (8) (9) (to record the sale) (to record the cost of the sale) click if you would like to show work for this question: open show work
Answers: 1
question
Business, 22.06.2019 12:10
Gwen, a manager at exude apparels inc., received a message from a customer requesting a replacement for a purchased pair of shoes. exude apparels has a clearly stated no-return policy. gwen responded to the customer denying the request in a tactful and clear manner. despite this, the customer submitted a second request. in this scenario, which of the following is an appropriate response to the second request?
Answers: 2
question
Business, 22.06.2019 13:10
Paid-in-capital in excess of par represents the amount of proceeds a. from the original sale of common stock b. in excess of the par value from the original sale of common stock c. at the current market value of the common stock d. at the curent book value of the common stock
Answers: 1
You know the right answer?
On December 31, 2018, Ditka Inc. had Retained Earnings of $278,800 before its closing entries were p...
Questions
question
Mathematics, 29.09.2019 22:30
question
Business, 29.09.2019 22:30
question
Chemistry, 29.09.2019 22:30
Questions on the website: 13722363