Shown below is an adjusted trial balance for Debrose Enterprises Ltd. at the end of its...

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Shown below is an adjusted trial balance for Debrose Enterprises Ltd. at the end of its accounting period, October 31, 2020. Cash. Accounts receivable. Inventory.. Prepaid expenses.. Building.... Accumulated depreciation-building.. Accounts payable.. Common shares.. Retained earnings, Nov 1, 2019. Dividends declared. Sales revenue..... Cost of goods sold.. Wages expense... Supplies expense. Depreciation expense. Insurance expense. Totals.. DEBROSE ENTERPRISES LTD. Adjusted Trial Balance October 31, 2020 (do not place a $ in your answer) Debit $4,600 6,200 12,500 5,000 .... 140,000 ******** 5,000 168,000 53,000 2,000 6,200 1,000 $403,500 Credit $20,000 20,500 5,000 78,000 280,000 $403,500 Required In the space provided below place the value of Retained earnings for October 31, 2020 Shown below is an adjusted trial balance for Debrose Enterprises Ltd. at the end of its accounting period, October 31, 2020. Cash. Accounts receivable. Inventory.. Prepaid expenses.. Building.... Accumulated depreciation-building.. Accounts payable.. Common shares.. Retained earnings, Nov 1, 2019. Dividends declared. Sales revenue..... Cost of goods sold.. Wages expense... Supplies expense. Depreciation expense. Insurance expense. Totals.. DEBROSE ENTERPRISES LTD. Adjusted Trial Balance October 31, 2020 (do not place a $ in your answer) Debit $4,600 6,200 12,500 5,000 .... 140,000 ******** 5,000 168,000 53,000 2,000 6,200 1,000 $403,500 Credit $20,000 20,500 5,000 78,000 280,000 $403,500 Required In the space provided below place the value of Retained earnings for October 31, 2020

Answer rating: 100% (QA)

To find the retained earnings for October 31 2020 we need to calculate the change in retained earnin... View the full answer