Prior to closing, Syracuse Company's aččounting cords showe Retained earnings $6,350 Service revenue 7,750 Interest revenue 850 Salaries expense 4,600 1,400 Operating expense Interest expense 550 Dividends 1,150 After closing, what is the balance of the Retained Earnings account?

Prior to closing, Syracuse Company's aččounting cords showe Retained earnings $6,350 Service revenue 7,750 Interest revenue 850 Salaries expense 4,600 1,400 Operating expense Interest expense 550 Dividends 1,150 After closing, what is the balance of the Retained Earnings account?

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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Concept explainers

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

Prior to closing, Syracuse Company's accounting records showed the following balances:
Retained earnings
$6,350
Service revenue
7,750
Interest revenue
850
Salaries expense
4,600
Operating expense
1,400
Interest expense
550
Dividends
1,150
After closing, what is the balance of the Retained Earnings account?

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