QUESTION 3 After correctly recording adjusting entries at the end of the 2022 fiscal year, Sinopec has a balance of 4.2 billion in revenues, *3.7 billion in expenses, 10 million in dividends, and 12 billion in retained earnings. Which of the following would be a part of Sinopec's closing entries? O Debit to Retained Earnings of 12 billion O Credit to Retained Earnings of *12 billion Credit to Retained Earnings of ¥4.2 billion O Credit to Retained Earnings of ¥3.7 billion O Credit to Retained Earnings of 10 million 4

QUESTION 3 After correctly recording adjusting entries at the end of the 2022 fiscal year, Sinopec has a balance of 4.2 billion in revenues, 3.7 billion in expenses, 10 million in dividends, and 12 billion in retained earnings. Which of the following would be a part of Sinopec's closing entries? O Debit to Retained Earnings of 12 billion O Credit to Retained Earnings of 12 billion Credit to Retained Earnings of ¥4.2 billion O Credit to Retained Earnings of ¥3.7 billion O Credit to Retained Earnings of 10 million 4

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter8: Revenue Recognition, Receivables, And Advances From Customers

Section: Chapter Questions

Problem 32E

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