The following adjusted trial balance was drawn from the records of Sunrise Company. Particulars Cash Debit ($) Credit ($) 1,200 Supplies 800 Equipment 3,500 Accounts payable 1,600 Common stock 2,000 Retained earnings 750 Service revenue 2,800 Operating expenses 1,400 Dividends 250 Totals 7,150 7,150 Based on the information in the trial balance, the after-closing balance in the retained earnings account will be: A. $750 B. $2,150 C. $1,400 D. $1,900

The following adjusted trial balance was drawn from the records of Sunrise Company. Particulars Cash Debit ($) Credit ($) 1,200 Supplies 800 Equipment 3,500 Accounts payable 1,600 Common stock 2,000 Retained earnings 750 Service revenue 2,800 Operating expenses 1,400 Dividends 250 Totals 7,150 7,150 Based on the information in the trial balance, the after-closing balance in the retained earnings account will be: A. $750 B. $2,150 C. $1,400 D. $1,900

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter4: Accounting For Retail Operations

Section: Chapter Questions

Problem 4.7E: Determining amounts to be paid on invoices Determine the amount to be paid in full settlement of...

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