Home / Questions / The McCarthy Company has the following adjusted trial balance as of December 31, 2017: Ac
The McCarthy Company has the following adjusted trial balance as of December 31, 2017:
Account
Debit
Credit
Cash
$800
Accounts Receivable
1000
Inventory
2200
Supplies
1800
Prepaid Rent
600
Land
6300
Building
39,500
Accumulated Depreciation
$8,500
Accounts Payable
7,500
Unearned Revenue
4,100
Notes Payable, due 2020
2,300
Common Stock
6,600
Retained Earnings
3,100
Service Revenue
33,000
Rent Expense
2,300
Supplies Expense
1,200
Salaries Expense
6,400
Depreciation Expense
1,400
Utilities Expense
1,600
Totals
$65,100
$65,100
What is the Retained Earnings balance at December 31, 2017?
Account |
Debit |
Credit |
Cash |
$800 |
|
Accounts Receivable |
1000 |
|
Inventory |
2200 |
|
Supplies |
1800 |
|
Prepaid Rent |
600 |
|
Land |
6300 |
|
Building |
39,500 |
|
Accumulated Depreciation |
|
$8,500 |
Accounts Payable |
|
7,500 |
Unearned Revenue |
|
4,100 |
Notes Payable, due 2020 |
|
2,300 |
Common Stock |
|
6,600 |
Retained Earnings |
|
3,100 |
Service Revenue |
|
33,000 |
Rent Expense |
2,300 |
|
Supplies Expense |
1,200 |
|
Salaries Expense |
6,400 |
|
Depreciation Expense |
1,400 |
|
Utilities Expense |
1,600 |
|
Totals |
$65,100 |
$65,100 |
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