Given the following adjusted trial balance: - 17183

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yousafbhutta

yousafbhutta

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  • From: Business,
  • Posted on: Mon 06 May, 2013
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Request Description

Given the following adjusted trial balance:

    Debit        Credit
Cash    $781       
Accounts receivable    1,049       
Inventory    1,562       
Prepaid rent    43       
Property, plant & equipment    150       
Accumulated depreciation            $26
Accounts payable            41
Unearned revenue            61
Common stock            103
Retained earnings            3,305
Service revenue            134
Interest revenue            28
Salary expense    80       
Travel expense    33         
        Total    $3,698        $3,698

After closing entries have been posted, the balance in retained earnings will be:
     $3,170
     $3,440
     $3,354
     $3,256
                                       

Solution Description

 

Given the following adjusted trial balance:

 

            Debit               Credit

Cash    $781               

Accounts receivable   1,049              

Inventory        1,562