Allen Corp.'s adjusted trial balance shows the following accounts and balances. Share CapitalOrdinary 225,000 Insurance...
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Accounting
Allen Corp.'s adjusted trial balance shows the following accounts and balances.
Share CapitalOrdinary 225,000
Insurance Expense 24,000
Retained Earnings 67,500
Salaries and Wages Expense 57,000
Dividends 27,000
Income Tax Expense 45,000
Rent Expense 18,000
Bad Debt Expense 22,500
Allowance for Doubtful Accounts 33,000
Sales Revenue 585,000
What is the balance in Allens retained earnings account after all closing entries have been prepared and posted?
459,000.
418,500.
684,000.
391,500.
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