Leo n urance Age cy startod e year h beg r ng Re ured Ear ngs balance of S27 000

Question

Leo n urance Age cy startod e year h beg r ng Re ured Ear ngs balance of S27 000 posted, what wil be the balance Retained Eaming? um t ear, L00 lms ranco Agency oarned S35.000 of Servic. Revenuo and incumed S21,000 of war ous o penses Poet the boginning balanco and closng ontry amounts to th Rotal od Earnings ao unt. Use B L DOG g r er souli be combined imo one, desing entry for net inoome 0ike you ne closng the income Summery 8:couml) du dsof $8GO rom ho buroes were pand to st c o dors Aflo thu c os n en nes are recorded and to u ow the bogi ning and undr g balance o tho Retained Eannings oghning and an d Eam ngsao our uso a cos o ng turon o o show ho orts that aro post whilo dosing the books. Thu osing cho nuo and ponso a u

Explanation / Answer

Retained Earnings Clos. 8000 27000 Bal. 15000 Clos. 34000 Bal. Working: Net income 15000 =36000-21000

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