A company has the following adjusted trial balance: Debit Credit Cash Accounts receivable Prepaid rent Equipment...

 

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A company has the following adjusted trial balance: Debit Credit Cash Accounts receivable Prepaid rent Equipment 1,500 2,100 100 3,500 Accumulated depreciation-Equipment 1,500 Accounts payable Unearned service revenue Common stock 150 200 1,000 Retained earnings 4,700 Service revenue 800 Interest revenue 100 Salaries and wages expense 150 Depreciation expense 600 Rent expense 500 Total 8,450 8,450 After closing entries have been journalized and posted, the balance in the company's retained earnings account will be A company has the following adjusted trial balance: Debit Credit Cash Accounts receivable Prepaid rent Equipment 1,500 2,100 100 3,500 Accumulated depreciation-Equipment 1,500 Accounts payable Unearned service revenue Common stock 150 200 1,000 Retained earnings 4,700 Service revenue 800 Interest revenue 100 Salaries and wages expense 150 Depreciation expense 600 Rent expense 500 Total 8,450 8,450 After closing entries have been journalized and posted, the balance in the company's retained earnings account will be

Answer rating: 100% (QA)

To determine the balance in the companys retained earnings account after closing entries have been j... View the full answer