Prior to recording the closing entries for January 31, 2022, Your Company's Retained Earnings account balance was $75,000. What was the balance after the closing entries are posted? Your Company Income Statement For the month ending, January 31, 2022 Revenue: Consulting revenue Total revenue Expenses Rent expense Salary expense Utilities expense Total expenses Net Income $5,600 800 1200 440 5,600 2440 $3,160

Prior to recording the closing entries for January 31, 2022, Your Company's Retained Earnings account balance was $75,000. What was the balance after the closing entries are posted? Your Company Income Statement For the month ending, January 31, 2022 Revenue: Consulting revenue Total revenue Expenses Rent expense Salary expense Utilities expense Total expenses Net Income $5,600 800 1200 440 5,600 2440 $3,160

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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