question archive Prior to closing

Prior to closing

Subject:AccountingPrice: Bought3

Prior to closing. Syracuse Company’s accounting records showed the following balances:

Retained earnings

$6,800

Service revenue

8,050

Interest revenue

1,000

Salaries expense

4,900

Operation expense

1,550

Interest expense

700

Dividends

1,300

 

After closing Syracuse’s retained earning balance would be

Multiple choice

a. $6,800

b. $8,700

c. $7,400

d. $10,000

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