Levitt Company reports the following trial balance:
Required:
a)Draw T-accounts for Retained Earnings and all accounts to be closed.Post the account balances before closing and then the closing entries to the T-accounts.
b)Prepare a post closing Trial Balance after the closing entries.

Question

Quizplus · Accepted Answer

The Answer of Levitt Company reports the following trial balance:
Required:
a)Draw T-accounts for Retained Earnings and all accounts to be closed.Post the account balances before closing and then the closing entries to the T-accounts.
b)Prepare a post closing Trial Balance after the closing entries.

Levitt Company Reports the Following Trial Balance