Question
Chapter 4-The following is the adjusted trial balance for Baker Services. Accounts Debit Credit Cash $31,100 Accounts Receivable 30,000 Prepaid Insurance 3,500 Office Supplies 3,200
Chapter 4-The following is the adjusted trial balance for Baker Services.
Accounts | Debit | Credit |
Cash | $31,100 |
|
Accounts Receivable | 30,000 |
|
Prepaid Insurance | 3,500 |
|
Office Supplies | 3,200 |
|
Land | 49,000 |
|
Building | 150,000 |
|
Accumulated DepreciationBuilding |
| $14,500 |
Equipment | 77,000 |
|
Accumulated DepreciationEquipment |
| 7,000 |
Accounts Payable |
| 25,000 |
Salaries Payable |
| 2,000 |
Unearned Revenue |
| 26,000 |
Mortgage Payable |
| 106,000 |
Baker, Capital |
| 24,500 |
Baker, Withdrawals | 23,000 |
|
Service Revenue |
| 275,000 |
Salaries Expense | 64,000 |
|
Depreciation ExpenseBuilding and Equipment | 5,600 |
|
Supplies Expense | 11,000 |
|
Insurance Expense | 14,600 |
|
Utilities Expense | 18,000 |
|
Total | $480,000 | $480,000 |
There were no new capital contributions during the year. After the closing entries are posted, what is the balance in Baker, Capital? Please show your calculations:
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