The following account balances appear in the 2012 adjusted trial balance of Blue Devils Corporation: Cash, $4,000;

Question:

The following account balances appear in the 2012 adjusted trial balance of Blue Devils Corporation: Cash, $4,000; Accounts Receivable, $8,000; Supplies, $18,000; Equipment, $110,000; Accumulated Depreciation, $40,000; Accounts Payable, $25,000; Salaries Payable, $15,000; Common Stock, $50,000; and Retained Earnings,________. Prepare the December 31, 2012, classified including the correct balance for retained earnings?
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...