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Given the following account balances before closing entries, what would be the balance for Retained Earnings on the Post-Closing Trial Balance (assuming the beginning Retained Earnings balance is zero)? Dividends Service Revenue Salaries Expense Depreciation Expense - Building and Equipment Supplies Expense Insurance Expense Utilities Expense OA. $114,700 OB. $194,300 OC. $146,300 OD. $170,300 24,000 285,000 60,000 6,900 14,200 13,200 20,400

Given the following account balances before closing entries, what would be the balance for Retained Earnings on the Post-Closing Trial Balance (assuming the beginning Retained Earnings balance is zero)? Dividends Service Revenue Salaries Expense Depreciation Expense - Building and Equipment Supplies Expense Insurance Expense Utilities Expense OA. $114,700 OB. $194,300 OC. $146,300 OD. $170,300 24,000 285,000 60,000 6,900 14,200 13,200 20,400

FINANCIAL ACCOUNTING
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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Given the following account balances before closing entries, what would be the balance for Retained Earnings on the Post-Closing Trial Balance (assuming the beginning Retained Earnings balance is zero)? Dividends Service Revenue Salaries Expense Depreciation Expense - Building and Equipment Supplies Expense Insurance Expense Utilities Expense OA. $114,700 OB. $194,300 OC. $146,300 OD. $170,300 24,000 285,000 60,000 6,900 14,200 13,200 20,400
Transcribed Image Text:Given the following account balances before closing entries, what would be the balance for Retained Earnings on the Post-Closing Trial Balance (assuming the beginning Retained Earnings balance is zero)? Dividends Service Revenue Salaries Expense Depreciation Expense - Building and Equipment Supplies Expense Insurance Expense Utilities Expense OA. $114,700 OB. $194,300 OC. $146,300 OD. $170,300 24,000 285,000 60,000 6,900 14,200 13,200 20,400
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