Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 47

Refer to the adjusted trial balance of Wilderness Guide Services, Inc., illustrated in Exercise 5.3 to respond to the following items:
a.repare all necessary closing entries at December 31, 2015.
b.repare an after-closing trial balance dated December 31, 2015.
c.ompare the Retained Earnings balance reported in the after-closing trial balance prepared in part b to the balance reported in the adjusted trial balance.xplain why the two balances are different.Include in your explanation why the balance reported in the after-closing trial balance has increased or decreased subsequent to the closing process.)