Homework Answers
Answer :- Correct options is D)$175,800.
Working:-
Closing balance in retained earnings = Opening retained earnings balance + Income for the current period
= opening balance $11500 + [service revenue $301000 - (salary exp. 62000 + Depreciation 6200 + supplies exp.11000 + Insurance exp. 14500 + Utility exp. 18000 + dividend exp. 25000] = $11500 + $164300 = $175800
For questions 25 financial statement not their. so, i an unable to answer this questions.
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