Chapter 4-The following is the adjusted trial balance for Baker Services. ...
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Accounting
Chapter 4-The following is the adjusted trial balance for Baker Services.
Accounts
Debit
Credit
Cash
$31,100
Accounts Receivable
30,000
Prepaid Insurance
3,500
Office Supplies
3,200
Land
49,000
Building
150,000
Accumulated DepreciationBuilding
$14,500
Equipment
77,000
Accumulated DepreciationEquipment
7,000
Accounts Payable
25,000
Salaries Payable
2,000
Unearned Revenue
26,000
Mortgage Payable
106,000
Baker, Capital
24,500
Baker, Withdrawals
23,000
Service Revenue
275,000
Salaries Expense
64,000
Depreciation ExpenseBuilding and Equipment
5,600
Supplies Expense
11,000
Insurance Expense
14,600
Utilities Expense
18,000
Total
$480,000
$480,000
There were no new capital contributions during the year. After the closing entries are posted, what is the balance in Baker, Capital? Please show your calculations:
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