1.

Corresponds to CLO 2(a) Based on the following account balances, what is the total of the debit and credit columns of this company's adjusted trial balance? Service Revenue$4,500; Cash$1,300; Unearned revenue$3,400; Salary expense$1,100; Common stock$1,000; Equipment$7,000; Prepaid insurance$1,200; Depreciation expense$700; Accumulated depreciation$1,400; Retained earnings$1,000.

$8,100

$11,300

$12,000

$15,800

2.

Corresponds to CLO 2(b) Given the following adjusted trial balance amounts, what is the net income for the year? Debit balances Cash$8,000; Accounts receivable$4,000; Short-term investments$10,000; Prepaid rent$500; Property, plant, & equipment$20,000; Salary expense$6,000; Depreciation expense$2,000; Rent expense$2,500 Credit balances Accumulated depreciation$6,000; Accounts payable$2,600; Unearned revenue$3,000; Common stock$8,000; Retained earnings$12,000; Service revenue$21,000; Interest revenue$400.

$7,900

$11,400

$10,400

$10,900

3.

Corresponds to CLO 2(c) Given the following adjusted trial balance amounts, what is the retained earnings ending balance to be reported on the statement of retained earnings? Debit balances Cash$8,000; Accounts receivable$12,000; Inventory$13,000; Property, plant, & equipment$30,000; Cost of goods sold$21,000; Salary expense$4,000; Depreciation expense$3,000 Credit balances Accumulated depreciation$9,000; Accounts payable$5,000; Common stock$35,000; Retained earnings$12,000; Revenue$30,000.

		$12,000
		$14,000
		$10,000
		$17,000