The Following Is the Adjusted Trial Balance for Tuttle Photography

question 14

Multiple Choice

The following is the adjusted trial balance for Tuttle Photography. $\begin{array}{|l|l|l|}\hline \text { Accounts } & {\text { Debit }}&\text { Credit } \\\hline \text { Cash } & \$ 81,000 \\\hline \text { Accounts receivable } & 26,000 \\\hline \text { Prepaid insurance } & 6500 \\\hline \text { Office supplies } & 3400 \\\hline \text { Building } & 130,000 \\\hline \text { Accumulated depreciation - building } & & \$ 13,500 \\\hline \text { Equipment } & 70,000 & \\\hline \text { Accumulated depreciation - equipment } & & 9000 \\\hline \text { Land } & 47,000 &\\\hline \text { Accounts payable } && 20,000 \\\hline \text { Salaries payable } && 4000 \\\hline \text { Unearned service revenue } && 22,000 \\\hline \text { Mortgage payable } & &103,000 \\\hline \text { R. Tuttle, capital } & &15,500 \\\hline \text { R. Tuttle, drawings } & 25,000 & \\\hline \text { Service revenue } & & 318,000 \\\hline \text { Salaries expense } & 61,000 &\\\hline \text { Depreciation expense - building and equipment } & 5700 \\\hline \text { Supplies expense } & 14,000 \\\hline \text { Insurance expense } & 14,400 \\\hline \text { Electricity and gas expense } & 21,000 \\\hline \text { Total } & \$ 505,000 & \$ 505,000\\\hline\end{array}$ After the closing entries,what will the final balance in R.Tuttle,capital be?

• A)$227,400
• B)$192,400
• C)$25,000
• D)$25,500

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