Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The December 31 2021 pre closing adjusted trial balance for Kline enterprise was as follows: Acc payable 101,000 Acc Rec 181,000 Accum Depreciation-equipment 271,000 common

The December 31 2021 pre closing adjusted trial balance for Kline enterprise was as follows:

Acc payable 101,000

Acc Rec 181,000

Accum Depreciation-equipment 271,000

common stock 501,000

cash 37,000

COGS 492,000

depreciation expense 71,000

Equipement 722,000

Interest expense 8,000

inventory 161,000

note payable due in 6 months 71,000

rent expenses 41,000

retainend earnings 77,000

salaries payable 19,000

sales revenue 803,000

salaries expenses 131,000

Totals Deb: 1,843,000. Cr 1,843,000

compute Kline's 12/31/2021 total shareholders equity

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

Recommended Textbook for

Corporate Financial Reporting And Analysis

Authors: S David Young, Jacob Cohen, Daniel A Bens

4th Edition

111949463X, 9781119494638

More Books

Students also viewed these Accounting questions

Question

Where do the authors work?

Answered: 1 week ago

Question

The background knowledge of the interpreter

Answered: 1 week ago

Question

How easy the information is to remember

Answered: 1 week ago