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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
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.
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