The following information was taken from the books of Vulcan Corporation. A partial list of accounts and balances as of December 31, 2013: 
Required:
a) Prepare the necessary closing entries in general journal form. 
b) Assuming the balance of Retained Earnings prior to closing was $3,400, what is its balance immediately after closing?
Definitions:
Popular Culture
The set of ideas, perspectives, attitudes, images, and other phenomena that are within the mainstream of a given culture, especially Western culture in the late 20th and early 21st centuries.
Hegemony
The dominance of one group over others, often achieved through cultural, economic, or political means, leading to the prevailing of particular viewpoints and norms.
Cultural Diffusion
The spread of cultural beliefs and social activities from one group to another.
Cultural Relativism
The idea that a person's customs and actions should be interpreted by others based on the cultural context of that person.
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