Glidden Consulting provides marketing research for clients in the retail industry. The company had the following adjusted balances at December 31, 2014 (listed alphabetically):

Required
1. Prepare an adjusted trial balance listing the accounts in proper order at December 31, 2014. Solve for the "?" in Retained Earnings.
2. Does the Retained Earnings balance determined in requirement 1 represent the balance at December 31, 2014, or December 31, 2013? Explain.

Transcribed Image Text:

Accounts Payable Accumulated Depreciation General and Administrative Expense Consulting Fees Earned 86,830 320,050 18,100 2,564,200 Contributed Capital Income Taxes Payable Accounts Receivable Building and Equipment 323,040 225,400 233,370 2,030 Accrued Liabilities Cash Dividends Declared Interest Expense 25,650 5,000 173,000 17,200 Utilities Expense Other Revenue Supplies Land 60,000 20,800 12,200 25,230 Notes Payable Prepaid Expenses Wages and Benefits Expense Training Expenses 1,590,000 160,000 10,200 18,600 Travel Expense Other Assets Rent Expense 145,000 152,080 23,990 Retained Earnings Other Operating Expenses Unearned Consulting Fees 188,000 32,500