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vlada-n [284]
4 years ago
9

An adjusted trial balance is given below.

Business
1 answer:
son4ous [18]4 years ago
4 0

Answer:

$16,400

Explanation:

The formula for Retained Earnings = Total assets - Total Liabilities except Retained Earnings

Under the Balance sheet in accordance with this question, the asset recognizable are Cash Account Receivables Prepaid Rent and Merchandise inventory. The liability recognizable are Account payable, Salary Payable, Notes Payable and Common stocks

Therefore Retained earnings = (12000+3000+700+25000)-(14000+1500+800+8000)

Retained earnings = 40700 - 24300

Retained earnings = $16,400

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