The December 31, 2018 (pre-closing) adjusted trial balance for Kline Enterprises was as follows: Account...
70.2K
Verified Solution
Link Copied!
Question
Accounting
The December 31, 2018 (pre-closing) adjusted trial balance for Kline Enterprises was as follows: Account Title Debit Credit Accounts payable 101,000 Accounts receivable 181,000 Accumulated depreciation - equipment 271,000 Common stock 501,000 Cash 37,000 Cost of goods sold 491,000 Depreciation expense 71,000 Equipment 722,000 Interest expense 8,000 Inventory 161,000 Note payable (due in six months) 71,000 Rent expense 41,000 Retained earnings 77,000 Salaries and wages payable 19,000 Sales revenue 803,000 Salaries expense 131,000 Totals 1,843,000 1,843,000 Required: Assuming no income taxes, compute the Kline's 12/31/18 total shareholders' equity:
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.