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Vanguard Company had the following adjusted trial balance at December 31, 2011.                  ...

Vanguard Company had the following adjusted trial balance at December 31, 2011.                  
                  
VARGUARD COMPANY                  
Adjusted Trial Balance                  
For the year ended December 31, 2011                  
                  
Account titles   Debits   Credits          
Cash   $14,800               
Accounts Receivable   8,800              
Equipment   15,900              
Accounts Payable       $4,400           
Accumulated Depreciation       7,400          
Common Stock       20,000          
Retained Earnings       25,200          
Dividends   16,000              
Service Revenue       65,000          
Unearned Rent Revenue       1,800          
Rent Revenue       6,500          
Salaries Expense   55,700              
Depreciation Expense   4,000              
Supplies Expense   200              
Utilities Expense   14,900   _______          
   $130,300    $130,300           
                  
Instructions                  
(a)   Journalize the entries required to close the accounts.              
(b)   Prepare a retained earnings statement for the year ended December 31, 2011.              
                  

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