The December 31, 2024, adjusted trial balance for Kline Enterprises was as follows: Account Title Accounts...
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The December 31, 2024, adjusted trial balance for Kline Enterprises was as follows: Account Title Accounts payable Accounts receivable Accumulated depreciation Common stock Cash Cost of goods sold Depreciation expense Equipment Interest expense Inventory Note payable (due in six months) Rent expense Retained earnings Salaries payable Sales revenue Salaries expense Totals Shareholders equity Debit I $ 178,000 34,000 488,000 68,000 716,000 5,000 158,000 38,000 128,000 $1,813,000 Credit $ 98,000 268,000 498,000 68,000 71,000 16,000 794,000 Required: Assuming no income taxes, compute Kline's 12/31/2024 total shareholders' equity. $1,813,000 The December 31, 2024, adjusted trial balance for Kline Enterprises was as follows: Account Title Accounts payable Accounts receivable Accumulated depreciation Common stock Cash Cost of goods sold Depreciation expense Equipment Interest expense Inventory Note payable (due in six months) Rent expense Retained earnings Salaries payable Sales revenue Salaries expense Totals Shareholders equity Debit I $ 178,000 34,000 488,000 68,000 716,000 5,000 158,000 38,000 128,000 $1,813,000 Credit $ 98,000 268,000 498,000 68,000 71,000 16,000 794,000 Required: Assuming no income taxes, compute Kline's 12/31/2024 total shareholders' equity. $1,813,000
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