Question
QUESTION 14 Account Name _ Debit_ _ Credit_ Accounts Payable 26,000 Accounts Receivable 28,850 Cash 10,000 Common Stock 12,500 Cost of Goods Sold 68,000 Equipment
QUESTION 14
-
Account Name
_Debit_
_Credit_
Accounts Payable
26,000
Accounts Receivable
28,850
Cash
10,000
Common Stock
12,500
Cost of Goods Sold
68,000
Equipment
73,000
Interest Expense
150
Interest Payable
500
Inventory
45,000
Note Payable
21,000
Retained Earnings
53,000
Sales Revenue
179,000
Supplies Expense
7,000
Wages Expense
60,000
Total
292,000
292,000
The above is Green Co.'s Pre-Closing Trial Balance as of December 31, 2009. Green's accounting period is month, thus the balances in the temporary accounts are for the month of December 2009. Note: The accounts are not listed in their normal sequence -- rather they are listed inalphabetical sequence.
Question:Based on Green's account balances, the Retained Earnings amount that would be shown on the Balance Sheet as of December 31, 2009 would be:
Show your calculations here:
QUESTION 14 1. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. _Debit_ Account Name Accounts Payable Accounts Receivable Cash Common Stock Cost of Goods Sold Equipment Interest Expense Interest Payable Inventory Note Payable Retained Earnings Sales Revenue Supplies Expense Wages Expense _Credit_ 26,000 28,850 10,000 2. 3. 12,500 68,000 73,000 150 500 45,000 21,000 53,000 179,000 Total 7,000 60,000 292,000 292,000 The above is Green Co.'s Pre-Closing Trial Balance as of December 31, 2009. Green's accounting period is month, thus the balances in the temporary accounts are for the month of December 2009. Note: The accounts are not listed in their normal sequence -- rather they are listed in alphabetical sequence. 15. Question: Based on Green's account balances, the Retained Earnings amount that would be shown on the Balance Sheet as of December 31, 2009 would be: 16. Show your calculations here
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