The following balances appear on the books of Harvey Tilman Enterprises: Retained Earnings, $26,000; Dividends,...
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Accounting
The following balances appear on the books of Harvey Tilman Enterprises: Retained Earnings, $26,000; Dividends, $6,300; Income Summary, \$0; Service Revenue, \$21,300; Salaries Expense, \$7,100; Rent Expense \$3,100; and Advertising Expense, $2,300. All accounts have normal balances. Read the requirements. Requirement 1. The T-accounts have been set up for you. Insert each account's adjusted balance as given (denote Adj. Bal.) at December 31. Requirements 1. The T-accounts have been set up for you. Insert each account's adjusted balance as given (denote as Adj. Bal.) at December 31 . 2. Post the closing entries to the accounts, denoting posted amounts as Clos. 3. Compute the ending balance of Retained Earnings
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