An adjusted trial balance is given below. Debit Credit
Cash $12,000
Accounts Receivable 3,000
Prepaid Rent 700
Merchandise Inventory 25, 000
Accounts Payable $4,100
Salaries Payable 1,500
Notes Payable 800
Common Stock 8,000
Retained Earnings 3,500
Dividends 1,000
Sales Revenue 89,500
Cost of Goods Sold 21,000
Salaries Expense 20,000
Rent Expense 14,000
Selling Expense 8,300
Delivery Expense 1,900
Supplies Expenseâââââ 500âââââââââââââââ
Totalâ $107,400â$ 107,400

What will be the final balance in theâ corporation's Retained Earnings account after recording the closingâentries?

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.

Employees at a library check out books to patrons. books have an isbn and a name. the library sometimes has multiple copies of the same book. books have one or more authors. a patron is an individual who has an active (non-expired) library card. for each library card, we store the person's first and last names and their address. for each employee, we store their employee id, current salary, first and last name and their address. we also store the employee id of their current manager. each time we check out a book to a patron we need to store the date of the transaction, the employee who checked out the book to the patron, and the library card of the patron. some employees have library cards. if an employee patron turns in a book late, the fine that they pay is a percentage of their salary. some employees are authors who have library cards—they are allowed to check out as many books as they like.

Martha entered into a contract with terry, an art dealer. according to the contract, terry was to supply 18 th century artifacts to martha for the play she was directing, and martha was ready to pay $50,000 for this. another director needed the same artifacts and was ready to pay $60,000. terry decided not to sell the artifacts to martha. in this case, the court may order terry to: