1.Given the following adjusted trial balance, determine the company's net income for the year:

	Debit		Credit
Cash	$1,562
Accounts Receivable	2,098
Inventory	3,124
Prepaid Rent	86
Equipment	300
Accumulated Depreciation-Equipment			52
Accounts Payble			82
Unearned Service Revenue			122
Common Stock			206
Retained Earnings			6,610
Service Revenue			268
Interest Revenue			56
Salaries and Wages Expense	160
Travel Expense	66
Total	$7,396		$7,396

a) $496

b) $270.

c) $324.

d)$98.

e) $220

2.A company has the following adjusted trial balance:

		Debit		Credit
	Cash	1,500
	Accounts receivable	2,100
	Prepaid rent	100
	Equipment	3,500
	Accumulated depreciation-Equipment			1,500
	Accounts payable			150
	Unearned service revenue			200
	Common stock			1,000
	Retained earnings			4,700
	Service revenue			800
	Interest revenue			100
	Salaries and wages expense	150
	Depreciation expense	600
	Rent expense	500
	Total	8,450		8,450

After closing entries have been journalized and posted, the balance in the company's retained earnings account will be

a) $8,450.

b) $4,350.

c) $4,550.

d) $5,050.

e) $4,700.

3. Which of the following accounts will not appear in the post-closing trial balance because it has been closed?

a) Cash

b) Unearned Revenue

c) Service Revenue

d) Accounts Payable

e) Common Stock