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(TCO B) Adjusting entries: Retained Earnings at 1/1/1X was $0 and at 12/31/1X - Academic Heroes

(TCO B) Adjusting entries: Retained Earnings at 1/1/1X was $0 and at 12/31/1X

(TCO F) Daniels Company deposits all receipts and makes all payments by check.
February 12, 2020
(TCO C) Presented below is information related to Tidal Wave Company.
February 12, 2020

(TCO B) Adjusting entries: Retained Earnings at 1/1/1X was $0 and at 12/31/1X was

$400,000. During 201X, cash dividends of $60,000 were paid and a stock dividend of $100,000 was issued. Both dividends were properly charged to retained earnings. You are to provide the missing closing entry. For each journal entry write DR for debit and CR for credit. (Points : 10)

 
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