Lila deposits her earnings from teaching children in a bank account. she has the peace of mind that her money will remain safe in the bank. she does not receive any interest from her savings account. she feels that transferring money through checks is unsafe. so she withdraws cash when she wants to lend money to someone.

After all revenue and expense accounts have been closed at the end of the fiscal year, income summary has a debit of $2,450,000 and a credit of $3,000,000. at the same date, retained earnings has a credit balance of $8,222,600, and dividends has a balance of $125,000. required: a. journalize the entries required to complete the closing of the accounts on december 31. refer to the chart of accounts for exact wording of account titles. b. determine the amount of retained earnings at the end of the period.

1. gar principles or "the principles"are intended to do what?

Calculate riverside’s financial ratios for 2014. assume that riverside had $1,000,000 in lease payments and $1,400,000 in debt principal repayments in 2014. (hint: use the book discussion to identify the applicable ratios.)