Malibu Corporation's fiscal year-end is December 31, 2024. The following is a partial adjusted trial balance as of December 31. Debit Credit $14,000 $1,400 Accounts Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Insurance Expense Interest Expense 13,400 4,400 1,400 9,400 3,400 34,000 4,400 quired: Prepare the necessary closing entries. Calculate the ending balance of Retained Earnings. uired 1 Required 2 complete this question by entering your answers in the tabs below.

Malibu Corporation's fiscal year-end is December 31, 2024. The following is a partial adjusted trial balance as of December 31. Debit Credit $14,000 $1,400 Accounts Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Insurance Expense Interest Expense 13,400 4,400 1,400 9,400 3,400 34,000 4,400 quired: Prepare the necessary closing entries. Calculate the ending balance of Retained Earnings. uired 1 Required 2 complete this question by entering your answers in the tabs below.

Name: Also record the entry to close the dividends account Journal entry wor
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Description: Also record the entry to close the dividends account Journal entry worksheet<12Record the entry to close the expense accounts.DateNote: Enter debits before credits.3December 31, 2024Record entryGeneral JournalClear entryRequired 1DebitCreditView gene

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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