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The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2013, the end of its fiscal year:

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The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2013, the end of its fiscal year: cash, $16,000; accounts receivable, $11,000; inventories, $25,000; equipment (net), $80,000; accounts payable, $14,000; wages payable, $9,000; interest payable, $1,000; note payable (due in 18 months), $30,000; common stock, $50,000.





Determine the year-end balance in retained earnings for K and J Nursery, Inc.

The anwser is 28,000 but I cant figure out how to get the anwser? Please Help.
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8425940.xlsx

The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2013, the end of its fiscal year: cash, $16,000; accounts
receivable, $11,000; inventories,...

This question was asked on Jan 29, 2013 and answered on Jan 29, 2013.

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