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On December 31, Turner Company had the following list of account balances. O Accounts Payable $ 56700 Dividends $ 16900 O Accounts Receivable 39400 O
On December 31, Turner Company had the following list of account balances. O Accounts Payable $ 56700 Dividends $ 16900 O Accounts Receivable 39400 O Equipment 36300 0 44300 O Prepaid Rent 16300 Accumulated Depreciation, Buildings Accumulated Depreciation, Equipment 18200 O Rent Expense 7500 O Beginning Retained Earnings 31500 O Salaries Expense 2700 O Buildings 105000 O Salaries Payable 2800 . O Capital Stock 28500 Service Revenue 117200 Cash 40900 O Supplies 14600 O Depreciation Expense, Buildings 3000 O Supplies Expense 7700 Depreciation Expense, Equipment 8900 Required: Prepare a balance sheet on December 31. Hint: You will need to determine the net book value for equipment and buildings. You will also need to determine ending retained earnings
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