Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. finley company end-of-period spreadsheet for the y

Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Adjusted...

90.2K

Verified Solution

Question

Accounting

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 48,000 48,000
Accounts Receivable 18,000 18,000
Supplies 6,000 6,000
Equipment 57,000 57,000
Accumulated Depr. 18,000 18,000
Accounts Payable 25,000 25,000
Wages Payable 6,000 6,000
Common Stock 30,000 30,000
Retained Earnings 3,000 3,000
Dividends 3,000 3,000
Fees Earned 155,000 155,000
Wages Expense 63,000 63,000
Rent Expense 27,000 27,000
Depreciation Expense 15,000 15,000
Totals 237,000 237,000 105,000 155,000 132,000 82,000
Net Income (Loss) 50,000 50,000
155,000 155,000 132,000 132,000

The ending balance of retained earnings is

a.$3,000

b.$47,000

c.$50,000

d.$53,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

how do i calculate the ETF Value(in $). HOW DO I CALCULATE WHAT FOR THIS ANSWER? Day Value...

Finance
Q

For a reaction with ΔH∘=−24 kcal/mol and ΔS∘=0.07 kcalmol−1K−1, calculate the equilibrium constant at: (1.) 30...

Chemistry
Q

1) A wheel with a weight of 396 N comes off a moving truck and rolls...

Physics
Q

What are some examples of forecasting in Healthcare that are being experience on a regular basis....

General Management
Q

Determine the polar trigonometric form of each of the following complex numbers Write angle measures...

Calculus
Q

Complete each of the following with the most correct word or phrase.a. Every _____ function...

Algebra
Q

#9 Mccaskey Corporation uses an activity-based costing system with...

Accounting
Q

In Figure 7.2, the process of asking questions to drill down to the root problem...

Accounting
Q

thanks in advance please provide answer as early as possible why is it...

Accounting
Q

Denton Company manufactures and sells a single product. Cost data for the product are given:...

Accounting
Q

his year, Sheila Linda sells Shares of CBA for proceeds of $6,000. The original purchase...

Accounting
Q

JPJ Corp has sales of $ 1.07 million, accounts receivable of $ 55 comma 000,...

Finance