Kitty Condos provides pet grooming and boarding services for domestic cats. The company has been in existence for 12 years. At December 31, 2019, Kitty Condo's adjusted trial balance is as follows:
Required
a. Prepare closing entries in journal entry form.
b. After Kitty Condo's closing entries are posted, what is the balance in the Retained Earnings account?
c. Prepare Kiddy Condo's post-closing trial balance.

Question

Kitty Condos provides pet grooming and boarding services for domestic cats. The company has been in existence for 12 years. At December 31, 2019, Kitty Condo's adjusted trial balance is as follows:
  Required
a. Prepare closing entries in journal entry form.
b. After Kitty Condo's closing entries are posted, what is the balance in the Retained Earnings account?
c. Prepare Kiddy Condo's post-closing trial balance.

Quizplus · Accepted Answer

The Answer of Kitty Condos provides pet grooming and boarding services for domestic cats. The company has been in existence for 12 years. At December 31, 2019, Kitty Condo's adjusted trial balance is as follows:
  Required
a. Prepare closing entries in journal entry form.
b. After Kitty Condo's closing entries are posted, what is the balance in the Retained Earnings account?
c. Prepare Kiddy Condo's post-closing trial balance.

Kitty Condos Provides Pet Grooming and Boarding Services for Domestic