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    Determination of Missing Account Balances and Values

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    Balances & Values

    Determine the missing values (A,B,C,D, & E).

    Revenues................................................260
    Expenses................................................ 210
    Dividends Declared.................................30
    Additional Investment by Owners.............A
    Net Income.............................................. B
    Retained Earnings - Beginning................C
    Retained Earnings - Ending....................120
    Paid-in Capital - Beginning......................70
    Paid-in Capital - Ending...........................70
    Total Assets - Beginning..........................D
    Total Assets - Ending...............................260
    Total Liabilities - Beginning......................105
    Total Liabilities - Ending...........................E

    Given a random list of accounts with their normal balances, prepare a trial balance for Dante Sprinkler Company as of December 31, 2008. List the accounts in the appropriate order.

    Dante Sprinkler Company
    TRIAL BALANCE
    For the Year Ending December 31, 2008

    Accounts Payable............................$1,000
    Accounts Receivable.........................2,000
    Cash..................................................1,000
    Common Stock ..................................5,500
    Dividends ..........................................2,000
    Equipment.........................................9,500
    Insurance Expense............................700
    Note Payable.....................................3,500
    Prepaid Insurance.............................1,400
    Retained Earnings.............................4,100
    Salary Expense..................................8,000
    Service Revenue...............................12,000
    Supplies.............................................500
    Utilities Expense.................................1,000

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    Solution Summary

    The expert determines the missing account balances and values. Additional investments by owners are provided.

    $2.19

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