Business, 27.02.2020 19:23 nandalabella06

The following account balances were taken from the adjusted trial balance of Kendall Company Revenues Operating Expenses Dividends Retained Earnings $22,700 15,100 4,600 17,100 What is the Retained Earnings account balance that will be included on the post-closing trial balance? Packard Company engaged in the following transactions during Year 1, its first year of operations:(Assume all transactions are cash transactions.) 1) Acquired $1,450 cash from the issue of common stock. 2) Borrowed $920 from a bank. 3) Earned $1,100 of revenues. 4) Paid expenses of $350. 5) Paid a $150 dividend. During Year 2, Packard engaged in the following transactions: (Assume all transactions are cash transactions) 1) Issued an additional $825 of common stock 2) Repaid $570 of its debt to the bank. 3) Earned revenues of $1,250. 4) Incurred expenses of $560 5) Paid dividends of $200 What was the balance of Packard's Retained Earnings account before closing In Year 1?

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The following account balances were taken from the adjusted trial balance of Kendall Company Revenue...

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