Question
The December 31, 2021 (pre-closing) adjusted trial balance for Kline Enterprises was as follows: Account Title Debit Credit Accounts payable 107,000 Accounts receivable 187,000 Accumulated
The December 31, 2021 (pre-closing) adjusted trial balance for Kline Enterprises was as follows: Account Title Debit Credit Accounts payable 107,000 Accounts receivable 187,000 Accumulated depreciationequipment 277,000 Common stock 507,000 Cash 43,000 Cost of goods sold 497,000 Depreciation expense 77,000 Equipment 734,000 Interest expense 7,000 Inventory 167,000 Note payable (due in six months) 77,000 Rent expense 47,000 Retained earnings 82,000 Salaries payable 25,000 Sales revenue 821,000 Salaries expense 137,000 Totals 1,896,000 1,896,000 Required: Compute Kline's 12/31/2021 total shareholders equity:
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