An Adjusted Trial Balance Is Given Below What Will Be the Final Balance in the Corporation's Retained

question 217

Multiple Choice

An adjusted trial balance is given below. $$\begin{array} { | l | r | r | } \hline & { \text { Debit } } & \text { Credit } \\\hline \text { Cash } & \$ 13,000 & \\\hline \text { Accounts Receivable } & 2,000 & \\\hline \text { Prepaid Rent } & 700 & \\\hline \text { Merchandise Inventory } & 25,000 & \\\hline \text { Accounts Payable } & & \$ 4,100 \\\hline \text { Salaries Payable } & & 2,000 \\\hline \text { Notes Payable } & & 800 \\\hline \text { Common Stock } & & 8,000 \\\hline \text { Retained Earnings } & & 3,800 \\\hline \text { Dividends } &1,000 & \\ \hline \text { Sales Revenue } & &86,900 \\\hline \text { Cost of Goods Sold } & 23,000 & \\\hline \text { Salaries Expense } &18,000 & \\\hline \text { Rent Expense } & 12,000 & \\\hline \text { Selling Expense } & 8,500 & \\\hline \text { Delivery Expense } & 1,800& \\\hline \text { Supplies Expense } & \underline { 600 } \\\hline \text { Total } & \$ 105,600 & \$ 105,600 \\\hline\end{array}$$ What will be the final balance in the corporation's Retained Earnings account after recording the closing
Entries?

• A) $25,800
• B) $26,800
• C) $14,000
• D) $2,800

Appreciate the importance of evaluating sources and evidence in psychology.

Acknowledge the contributions of foundational figures in psychology.

Understand the significance of the empirical approach in conducting psychological research.

Realize the critical role of skepticism in scientific inquiry within psychology.

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Definitions:

Contingency Management

A behavioral therapy approach that rewards individuals for demonstrating desired behaviors or achieving specific goals.

Nondepressive Activities

Activities undertaken to promote psychological well-being or alleviate symptoms of depression, focusing on lifting mood and increasing engagement with life.

Providing Sympathy

The act of showing understanding and compassion towards another person’s suffering or hardships.

Irrational Thoughts

Thoughts that are not based on reason or logic, and often stem from misconceptions, fears, or misunderstandings.