Hoosier Incorporated has a Retained Earnings balance of $12,…

Hoosier Incorporated has a Retained Earnings balance of $12,000 on the adjusted Trial Balance. Hoosier Incorporated has Service Revenue of $10,000, Salaries Expense of $5,000, and Rent Expense of $2,000. What will the balance of Retained Earnings be after the temporary accounts are closed?

On February 4, Hoosier Air collected $500 cash from the sale…

On February 4, Hoosier Air collected $500 cash from the sale of a ticket to a customer on January 26. -The flight took place on April 25. -The flight attendant who worked the April 25 flight was paid a $75 wage in May. Assume accrual basis.What are the total (1) Revenues and (2) Expenses that Hoosier Air will recognize in April?