Service

Chat Now

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: 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

Abhinav 01-Dec-2019

Answer (UnSolved)

question Get solution