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What is the process to obtain the Balance of retained earnings? Randall's Service Company began operations on January 1, 2019. The following Trial Balance was
What is the process to obtain the Balance of retained earnings?
Randall's Service Company began operations on January 1, 2019. The following Trial Balance was prepared on December 31, 2019. Capital contributions during the year were $54,000 Randall's Service Company Trial Balance December 31, 2019 Debit $25,400 5,000 1,200 3,400 Credit Account Title Cash Accounts Receivable Prepaid Rent Office Supplies 45,000 16,500 23,000 Building Equipment Accounts Payable Unearned Revenue Notes Payable Common Stock Dividends Service Revenue Salaries Expense Rent Expense $15,000 5,000 25,000 54,000 6,900 84,000 35,000 14,000 Office Expense Repair Expense Total 5,700 1,900 $183,000 $183,000 What is the December 31, 2019 balance of Retained Earnings? OA. $19,300 O B. $34,300 c. $20,500 XD. $25,500Step by Step Solution
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