Homework Answers
Answer
- Correct answer = Option #1: $ 20,700
- The above answer can be calculated by preparing Statement of retained earnings:
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Statement of Retained earnings |
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Beginning Balance |
$ 17,400.00 |
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Add: Net Income |
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Revenues |
$ 23,600.00 |
||
|
Operating Expenses |
$ (15,400.00) |
$ 8,200.00 |
|
|
Less: Dividends |
$ 4,900.00 |
||
|
Increase (decrease) in balance |
$ 3,300.00 |
||
|
Balance that will be included on post Closing Trial Balance |
$ 20,700.00 |
||
|
Correct Answer |
Option #1: $ 20,700 |
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Exam 3 6 The following account balances were taken from the adjusted trial balance of Kendall...
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