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Refer to the following adjusted trial balance.

Accounts   Debit   Credit
Cash   $15,500   
Accounts Receivable   8,400   
Office Supplies   900   
Equipment   9,400   
Accumulated Depreciation Equipment      $3,000
Accounts Payable      1,800
Salaries Payable      700
Unearned Revenue      550
Common Stock      3,900
Dividends   1,000   
Service Revenue      52,050
Salaries Expense   23,000   
Supplies Expense   2,200   
Depreciation Expense Equipment   1,600                
Total   $62,000   $62,000

What will the final ending balance in the Retained Earnings account be after posting the closing entries?
A) $24,250
B) $29,150
C) $26,250
D) $25,250
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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H3Ko Author
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7 years ago
I just realized you had posted this! Thanks so much
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