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4 July, 14:39

Finley Company

End-of-Period Spreadsheet

For the Year Ended December 31

Adjusted Trial Balance Income Statement Balance Sheet

Account Title Debit Credit Debit Credit Debit Credit

Cash 16,000 16,000

Accounts Receivable 6,000 6,000

Supplies 2,000 2,000

Equipment 19,000 19,000

Accumulated Depr. 6,000 6,000

Accounts Payable 10,000 10,000

Wages Payable 2,000 2,000

Common Stock 5,000 5,000

Retained Earnings 11,640 11,640

Dividends 1,000 1,000

Fees Earned 40,291 40,291

Wages Expense 20,072 20,072

Rent Expense 5,057 5,057

Depreciation Expense 5,802 5,802

Totals 74,931 74,931 30,931 40,291 44,000 34,640

Net Income (Loss) 9,360 9,360

40,291 40,291 44,000 44,000

The ending balance of retained earnings is

a. $16,640

b. $0

c. $9,360

d. $20,000

+3
Answers (1)
  1. 4 July, 14:53
    0
    The correct answer to this would be the last one, $20,000
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