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Presented below is an adjusted trial balance for Shawn Company, at December 31, 2021. Cash $7,700 Accounts payable $10,000 Accounts receivable 20,000 Notes payable 9,000
Presented below is an adjusted trial balance for Shawn Company, at December 31, 2021. Cash $7,700 Accounts payable $10,000 Accounts receivable 20,000 Notes payable 9,000 Prepaid insurance 15,000 Accumulated depreciation-Equipment 14,000 Equipment 35,000 Service revenue 29,000 Depreciation expense 7,000 Common stock 10,000 Dividends 1,500 Retained earnings 14,000 Advertising expense 1,400 Unearned service revenue 16,000 Rent expense 800 Salaries and wages expense 12,000 Insurance expense 1,600 $102,000 $102,000 * Your answer is incorrect. Determine the balance in the Retained Earnings account after the entries have been posted. Balance in retained earnings $ 28,700
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