CashAccounts ReceivablePrepaid ExpensesEquipmentAccumulated DepreciationAccounts PayableNotes PayableCommon StockRetained EarningsDividendsFees EarnedWages ExpenseRent ExpenseUtilities ExpenseDepreciation ExpenseMiscellaneous ExpenseStockton CompanyAdjusted Trial BalanceDecember 31Determine the retained earnings ending balance.Oa. $31,896Ob. $1,577Oc. $12,793Od. $13,0886,8272,41070616,0008723,4738234832247831,8964,5321,7615,8571,00012,0886,65831,896

Name: CashAccounts ReceivablePrepaid ExpensesEquipmentAccumulated Depreciat
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Description: CashAccounts ReceivablePrepaid ExpensesEquipmentAccumulated DepreciationAccounts PayableNotes PayableCommon StockRetained EarningsDividendsFees EarnedWages ExpenseRent ExpenseUtilities ExpenseDepreciation ExpenseMiscellaneous ExpenseStockton Company

Retained earnings are the balance of accumulated profit earned during the life of the business after…

Business

Accounting

Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense. Utilities Expense Adjusted Trial Balance December 31 Depreciation Expense Miscellaneous Expense Determine the retained earnings ending balance. Oa. $31,896 Ob. $1,577 Oc. $12,793 Od. $13,088 6,827 2,410 706 16,000 872 3,473 823 483 224 78 31,896 4,532 1,761 5,857 1,000 12,088 6,658 31,896

Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense. Utilities Expense Adjusted Trial Balance December 31 Depreciation Expense Miscellaneous Expense Determine the retained earnings ending balance. Oa. $31,896 Ob. $1,577 Oc. $12,793 Od. $13,088 6,827 2,410 706 16,000 872 3,473 823 483 224 78 31,896 4,532 1,761 5,857 1,000 12,088 6,658 31,896

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Accounts payable Accounts receivable HE Accumulated depreciation, building Accumulated depreciation, equipment Building Cash Dividends Equipment X Interest earned X Interest expense Investment in bonds Land improvements Long-term notes payable X Property taxes expense Property taxes payable Retained earings Share capital Short-term notes payable Totals Datu 30 Jun Income Summary Retainod Earnings Debit Credit 2,780 correct closing entry error 19″C Sunny 11,400 3,320 3,520 1,540 800 3,360 4,620 7,330 7,410 370 360 5,700 b) What entry is required to fix the error? Enter the date in the format dd/mmm (ie. 15/Jan). General Joumal Account/Explanation Page GJ8 7,070 7,180 6,760 6,440 6,640 43,300 43,300 F Debit Credit c) Calculate the correct post-closing retained earnings balance on June 30, 2014. Retained earnings balance: E
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