The following account balances were taken from the adjusted trial balance of Kendall Company:- **Revenues**: $23,600- **Operating Expenses**: $15,400- **Dividends**: $4,900- **Retained Earnings**: $17,400**Question**: What is the Retained Earnings account balance that will be included on the post-closing trial balance?**Multiple Choice Options**:- $25,600- $8,200- $20,700- $3,300

Net income = Revenue - Operating expenses Net income = $23,600 - $15,400 Thus, net income = $8,200…

The following account balances were taken from the adjusted trial balance of Kendall Company: Revenues $23,600 Operating Expenses 15,400 Dividends 4,900 Retained Earnings 17,400 What is the Retained Earnings account balance that will be included on the post-closing trial balance?

The following account balances were taken from the adjusted trial balance of Kendall Company: Revenues $23,600 Operating Expenses 15,400 Dividends 4,900 Retained Earnings 17,400 What is the Retained Earnings account balance that will be included on the post-closing trial balance?

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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Question

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The following account balances were taken from the adjusted trial balance of Kendall Company:

- **Revenues**: $23,600
- **Operating Expenses**: $15,400
- **Dividends**: $4,900
- **Retained Earnings**: $17,400

**Question**: What is the Retained Earnings account balance that will be included on the post-closing trial balance?

**Multiple Choice Options**:

- $25,600
- $8,200
- $20,700
- $3,300

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