Question
Below is the trial balance of Your Company as of December 31, 2018. After the closing entries have been posted to the accounts, what is
Below is the trial balance of Your Company as of December 31, 2018. After the closing entries have been posted to the accounts, what is the total for owners equity?
| Account Title: | Debit | Credit |
| Cash | $4,200 |
|
| Equipment | 8,000 |
|
| Common Stock |
| $4,500 |
| Retained Earnings |
| 4,800 |
| Revenue |
| 5,500 |
| Expenses | 2,600 |
|
| Totals | $14,800 | $14,800 |
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Managerial Accounting 1
Authors: Ray H. Garrison
1st Edition
1259114457, 978-1259114458
