SMART TOUCH LEARNING

Adjusted Trial Balance

December 31, 2016

Balance

Account Title

Debit

Credit

Cash

20,700

Accounts Receivable

11,400

Office Supplies

200

Prepaid Rent

13,800

Furniture

24,200

Accumulated Depreciation--Furniture

8,200

Accounts Payable

2,700

Salaries Payable

600

Interest Payable

400

Unearned Revenue

6,900

Notes Payable

9,600

Common Stock

13,500

Retained Earnings

13,800

Dividends

35,000

Service Revenue

62,700

Depreciation Expense--Furniture

2,700

Interest Expense

400

Rent Expense

4,100

Salaries Expense

4,800

Supplies Expense

1,100

Total

118,400

118,400

SMART TOUCH LEARNING

Statement of Retained Earnings

Month Ended December 31, 2016

Retained Earnings, December 1, 2016

13,800

Net income for the month

49,600

63,400

Dividends

(35,000)

Retained Earnings, December 31, 2016

28