Randall's Service Company Began Operations on January 1,2019 What Is the December 31,2019 Balance of Randall,Capital?
A) $58,000

question 36

Multiple Choice

Randall's Service Company began operations on January 1,2019.The following Trial Balance was prepared on December 31,2019.Capital contributions during the year were $58,000. Randall's Service Company
Trial Balance
December 31, 2019
$\begin{array}{lc}\text { Account Title}&\text { Debit}&\text { Credit}\\\text { Cash } & \$ 25,400 \\\text { Accounts Receivable } & 5,000 \\\text { Prepaid Rent } & 1,200 \\\text { Office Supplies } & 3,400 \\\text { Land } & 45,000 \\\text { Building } & 16,500 \\\text { Equipment } & 23,000\\\text { Accounts Payable } && \$ 15,000 \\\text { Unearned Revenue } && 5,000 \\\text { Notes Payable } && 25,000 \\\text { Randall, Capital } && 58,000\\\text { Randall, Withdrawals } & 6,700 \\\text { Service Revenue } &&80,300 \\\text { Salaries Expense } & 35,000 \\\text { Rent Expense } & 15.000\\\text { Office Expense } & 6,000 \\\text { Repair Expense } & \underline{1,100}&\underline{\quad\quad} \\\text { Total } & \underline{ \$ 183,300}& \underline{ \$ 183,300} \end{array}$ What is the December 31,2019 balance of Randall,Capital?

• A) $58,000
• B) $51,300
• C) $74,500
• D) $16,500

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