QUESTION 3 After correctly recording adjusting entries at the end of the 2022 fiscal year, Sinopec has a balance of 4.2 billion in revenues, *3.7 billion in expenses, 10 million in dividends, and 12 billion in retained earnings. Which of the following would be a part of Sinopec's closing entries? O Debit to Retained Earnings of 12 billion O Credit to Retained Earnings of *12 billion Credit to Retained Earnings of ¥4.2 billion O Credit to Retained Earnings of ¥3.7 billion O Credit to Retained Earnings of 10 million 4

QUESTION 3 After correctly recording adjusting entries at the end of the 2022 fiscal year, Sinopec has a balance of 4.2 billion in revenues, 3.7 billion in expenses, 10 million in dividends, and 12 billion in retained earnings. Which of the following would be a part of Sinopec's closing entries? O Debit to Retained Earnings of 12 billion O Credit to Retained Earnings of 12 billion Credit to Retained Earnings of ¥4.2 billion O Credit to Retained Earnings of ¥3.7 billion O Credit to Retained Earnings of 10 million 4

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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