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Trial Balance Cash 15500 Ac Receivable 12750 Equipment 22500 Ac Depreciation 6000 Account Payable 7750 Capital Stock 22500 Retained Earnings 0 Dividends 7500 Service Fee

Trial Balance

Cash 15500
Ac Receivable 12750
Equipment 22500
Ac Depreciation 6000
Account Payable 7750
Capital Stock 22500
Retained Earnings 0
Dividends 7500
Service Fee earned 45500
Salaries Expense 16000
Advertising Expense 3250
Depreciation Expense 4250
81750 81750

Net-Income is 22000

Retained Earning is 14500

How a new trial balance must be constructed taking in account Net-income and Retained earnings?

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After Closing Trial Balance DebitC $15 $12,750 Account Titles Credit Cash Accounts receivable S22,500 Ofice equipment Accummulated depreciation $6,(MX $7,750 Accounts payable Capital stoc Retained earnings $22.500 $14,500 Total S50,750S50,750

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