question 165
Multiple Choice
The following is the adjusted trial balance for Baker Services. Accounts Cash Accounts Receivable Prepaid Insurance Office Supplies Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue Mortgage Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Depreciation Expense-Building and Equipment Supplies Expense Insurance Expense Utilities Expense Total Debit $34,00028,0007,5003,00048,000150,00071,00022,00062,0005,90014,00014,60020,000$480,000 Credit $15,5007,00023,0004,00029,000100,00010,00011,500280,000$480,000 After the closing entries are posted, what is the balance in Retained Earnings?
Definitions:
Natural Law
a philosophy proposing that certain rights or values are inherent by virtue of human nature and can be universally understood through human reason.
Social Values
Principles and standards shared by a community that guide behavior and influence societal norms and the functioning of social institutions.
Ordinances
Local laws or regulations enacted by municipal governments to govern behavior and activities within their jurisdiction.
Municipalities
Political subdivisions within a state that have their own government and typically encompass cities, towns, or villages.