Vanguard Company had the following adjusted trial balance at December 31, 2025. VANGUARD COMPANY Adjusted Trial Balance For the Year Ended December 31, 2025 Account Titles Cash Accounts Receivable Equipment Accounts Payable Accumulated Depreciation-Equip. Share Capital - Ordinary Retained Earnings Dividends Service Revenue Unearned Rent Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Supplies Expense Utilities Expense Debits £ 12,800 8,800 15,900 16,000 55,700 6,000 200 14,900 £130,300 Credits £ 4,100 7,400 17,000 25,500 68,000 1,800 6,500 £130,300 Instructions (a) Journalize the entries required to close the accounts. (b) Prepare a retained earnings statement for the year ended December 31, 2025.

Vanguard Company had the following adjusted trial balance at December 31, 2025. VANGUARD COMPANY Adjusted Trial Balance For the Year Ended December 31, 2025 Account Titles Cash Accounts Receivable Equipment Accounts Payable Accumulated Depreciation-Equip. Share Capital - Ordinary Retained Earnings Dividends Service Revenue Unearned Rent Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Supplies Expense Utilities Expense Debits £ 12,800 8,800 15,900 16,000 55,700 6,000 200 14,900 £130,300 Credits £ 4,100 7,400 17,000 25,500 68,000 1,800 6,500 £130,300 Instructions (a) Journalize the entries required to close the accounts. (b) Prepare a retained earnings statement for the year ended December 31, 2025.

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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