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(Solved) Exercise 4-29 Preparation of a Statement of Retained Earnings from Closing Entries Fisher...


Exercise 4-29 Preparation of a Statement of Retained Earnings from  Closing Entries Fisher Corporation reported a Retained Earnings balance of $125,780 on January 1, 2014. Fisher Corporation made the following three closing entries on December 31, 2014. (The entry to transfer net income to Retained Earnings was intentionally omitted.) Prepare a statement of retained earnings for Fisher for the year.   Dec. 31 Service Revenue 65,400     Interest Revenue 20,270   Income Summary   85,670 31 Income Summary 62,345     Salary and Wage Expense   23,450   Rent Expense   20,120   Interest Expense   4,500   Utilities Expense   10,900   Insurance Expense   3,375 31 Retained Earnings 6,400     Dividends   6,400

 


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