Adjusting entries retained earnings at 1110 were 150000 and, Ask an Expert

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Adjusting Entries: Retained earnings at 1/1/10 were $150,000 and at 12/31/10 it was $200,000. During 2010 cash dividends of $60,000 were paid and a stock dividend of $40,000 was issued. Both dividends were properly charged to retained earnings. You are to provide the missing closing entry. For each journal entry prepare Dr for debit and Cr. for credit.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M955158

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