The following adjusted trial balance was drawn from the records of the Dakota Company. Particulars Debit ($) Credit ($) Cash Equipment Accounts payable Common stock Retained earnings 500 2,000 1,000 800 500 900 Service revenue Operating expenses 600 100 Dividends Totals 3,200 3,200 Based on the information in the trial balance, the after-closing balance in the retained earning account will be: A. $1,400 B. $300 C. $700 D. $200

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 11EA: Prepare adjusting journal entries, as needed, considering the account balances excerpted from the...
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The following adjusted trial balance was drawn from the records of the Dakota
Company.
Particulars
Debit ($) Credit ($)
Cash
Equipment
Accounts payable
Common stock
Retained earnings
500
2,000
1,000
800
500
900
Service revenue
Operating expenses 600
100
Dividends
Totals
3,200
3,200
Based on the information in the trial balance, the after-closing balance in the
retained earning account will be:
A. $1,400
B. $300
C. $700
D. $200
Transcribed Image Text:The following adjusted trial balance was drawn from the records of the Dakota Company. Particulars Debit ($) Credit ($) Cash Equipment Accounts payable Common stock Retained earnings 500 2,000 1,000 800 500 900 Service revenue Operating expenses 600 100 Dividends Totals 3,200 3,200 Based on the information in the trial balance, the after-closing balance in the retained earning account will be: A. $1,400 B. $300 C. $700 D. $200
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