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Chapter 4-The following is the adjusted trial balance for Baker Services. ...

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Accounting

Chapter 4-The following is the adjusted trial balance for Baker Services.

Accounts

Debit

Credit

Cash

$31,100

Accounts Receivable

30,000

Prepaid Insurance

3,500

Office Supplies

3,200

Land

49,000

Building

150,000

Accumulated DepreciationBuilding

$14,500

Equipment

77,000

Accumulated DepreciationEquipment

7,000

Accounts Payable

25,000

Salaries Payable

2,000

Unearned Revenue

26,000

Mortgage Payable

106,000

Baker, Capital

24,500

Baker, Withdrawals

23,000

Service Revenue

275,000

Salaries Expense

64,000

Depreciation ExpenseBuilding and Equipment

5,600

Supplies Expense

11,000

Insurance Expense

14,600

Utilities Expense

18,000

Total

$480,000

$480,000

There were no new capital contributions during the year. After the closing entries are posted, what is the balance in Baker, Capital? Please show your calculations:

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