The income statement for the bonita pines golf club inc for, Accounting Basics

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The income statement for the bonita pines golf club inc for

Question: The income statement for the Bonita Pines Golf Club Inc. for the month ended July 31 shows Service Revenue $16,000, Salaries and Wages Expense $8,400, Maintenance and Repairs Expense $2,500, and Income Tax Expense $1,000. The statement of retained earnings shows an opening balance for Retained Earnings of $20,000 and Dividends $1,300.

(a) Prepare closing journal entries.

(b) What is the ending balance in Retained Earnings?

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Accounting Basics: The income statement for the bonita pines golf club inc for

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