Question
Refer to the following adjusted trial balance. Accounts Debit Credit Cash $15,500 Accounts Receivable 8,400 Office Supplies 900 Equipment 9,400 Accumulated Depreciation Equipment $3,000 Accounts
Refer to the following adjusted trial balance.
| Accounts | Debit | Credit |
| Cash | $15,500 |
|
| Accounts Receivable | 8,400 |
|
| Office Supplies | 900 |
|
| Equipment | 9,400 |
|
| Accumulated Depreciation Equipment |
| $3,000 |
| Accounts Payable |
| 1,800 |
| Salaries Payable |
| 700 |
| Unearned Revenue |
| 550 |
| Common Stock |
| 3,900 |
| Dividends | 1,000 |
|
| Service Revenue |
| 52,050 |
| Salaries Expense | 23,000 |
|
| Supplies Expense | 2,200 |
|
| Depreciation Expense Equipment | 1,600 |
|
| Total | $62,000 | $62,000 |
What will the final ending balance in the Retained Earnings account be after posting the closing entries?
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Fundamentals of Financial Management
Authors: Eugene F. Brigham
Concise 9th Edition
1305635937, 1305635930, 978-1305635937
