The following data were taken from the accounting records of Li Company at December 31, Year...
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The following data were taken from the accounting records of Li Company at December 31, Year 2. All adjustments have been recorded. Service revenue $182,500 Retained earnings 100,500 Accounts receivable 32,000 Salaries expense Operating expense $3,500 19,000 Accounts payable 23,900 Supplies expense 1,310 Prepaid rent 6.200 Cameon stock Supplies Dividends Insurance expense Kent expense Unearned revenue 101,000 9501 3,950 2,100) 25,500 1,750 Required: b) Determine the balance in retained earnings at the end of Year 2 Note: Amounts to be deducted should be entered with a minus sign. Beginning retained earnings Ending retained eamings The following data were taken from the accounting records of Li Company at December 31, Year 2. All adjustments have been recorded. Service revenue $182,500 Retained earnings 100,500 Accounts receivable 32,000 Salaries expense Operating expense $3,500 19,000 Accounts payable 23,900 Supplies expense 1,310 Prepaid rent 6.200 Cameon stock Supplies Dividends Insurance expense Kent expense Unearned revenue 101,000 9501 3,950 2,100) 25,500 1,750 Required: b) Determine the balance in retained earnings at the end of Year 2 Note: Amounts to be deducted should be entered with a minus sign. Beginning retained earnings Ending retained eamings
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