Below is a partial portion of Jolex’s adjusted trial balance. Cash 14,089 Accounts Payable 5,529 Retained Earnings 1,865 Sales Revenue 14,443 Rent Revenue 2,230 Salaries and Wages Expense 7,046 Depreciation Expense 1,341 Utilities Expense 2,251 When preparing the closing entry, the balance in Retained Earnings will equal $____________
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Below is a partial portion of Jolex’s adjusted
|
Cash |
14,089 |
|
Accounts Payable |
5,529 |
|
Retained Earnings |
1,865 |
|
Sales Revenue |
14,443 |
|
Rent Revenue |
2,230 |
|
Salaries and Wages Expense |
7,046 |
|
|
1,341 |
|
Utilities Expense |
2,251 |
When preparing the closing entry, the balance in Retained Earnings will equal $____________
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does accounts payable and cash count towards ending retained earnings
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