Accounting Question

Learning Goal: I’m working on a accounting question and need an explanation and answer to help me learn.

Use the Adjusted Trial Balance for Anderson Service Company to prepare the classified balance sheet at September 30, 2016. Use the report form. You must compute the ending balance of Retained Earnings.

Anderson Service Company

Adjusted Trial Balance

September 30, 2016


Account Title Debit Credit
Accounts Payable $9,000
Accounts Receivable $2,800
Accumulated Depreciation, Equipment 1,500
Cash 14,500
Common Stock 10,000
Depreciation Expense – Equipment 600
Dividends 1,500
Equipment 40,000
Notes Payable (long-term) 20,000
Office Supplies 1,500
Prepaid Rent 4,800
Rent Expense 1,200
Retained Earnings, August 31, 2016 8,100
Salaries Expense 9,000
Service Revenue 27,500
Supplies Expense 500
Unearned Revenue 1,000
Utilities Expense 700
Total $77,100 $77,100
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