why retaining earnings show negative balance after year end closing but bank balance doubled AX 2012 R3

Entered closing balance as of 12/31/2013 from P/L where Sales (Cr), Cog (Dr) and total expense(Dr) and cash (Dr) with suspense a/c as offset

100k Sales; 60k Cog, 20k total expense; bank balance 20k. With a net profit/loss of $20k, I was expecting retained earnings to have Cr (20k); But AX is showing -ive 20k balance in retained earnings. bank balance doubled! with 40k balance in the next year!

Would the Jr entry should be other way around! also instead of bank, should I need to use a dummy P/L account (to offset suspense a/c balance)?

Thoughts from anyone.

On a second look, entries posted are correct