Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Refer to the following adjusted trial balance. Accounts Debit Credit Cash $1900 Accounts Receivable 8400 Office Supplies 400 Equipment 26,400 Accumulated Depreciation Equipment $3000 Accounts

Refer to the following adjusted trial balance.

Accounts Debit Credit
Cash $1900
Accounts Receivable 8400
Office Supplies 400
Equipment 26,400
Accumulated Depreciation Equipment $3000
Accounts Payable 1600
Salaries Payable 800
Unearned Revenue 600
Common Stock 3700
Dividends 3000
Service Revenue 58,300
Salaries Expense 24,000
Supplies Expense 2000
Depreciation Expense Equipment 1900 ____________________________
Total $68,000 $68,000

What will the final ending balance in the Retained Earnings account be after posting the closing entries?

Group of answer choices

$27,400

$30,400

$34,100

$33,400

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions