The following is the adjusted trial balance for Baker Services. Accounts Debit Credit Cash Accounts Receivable Prepaid Insurance Office Supplies Land Building Accumulated DepreciationBuilding Equipment Accumulated DepreciationEquipment Accounts Payable Salaries Payable Unearned Revenue Mortgage Payable ​Baker, Capital ​Baker, Withdrawals Service Revenue Salaries Expense Depreciation ExpenseBuilding and Equipment Supplies Expense Insurance Expense Utilities Expense Total There were no new capital contributions during the year. After the closing entries are​ posted, what is the balance in​ Baker, Capital?

Respuesta :

Answer: $163,300

Explanation:

Baker, Capital = Beginning Capital + Net Income - Drawings

Net Income = Service revenue - Salaries - Supplies - Insurance - Utilities - Depreciation for Building and Equipment

= 275,000 - 64,000 - 11,000 - 14,600 - 18,000 - 5,600

= $161,800.

Baker Capital = 24,500 + 161,800 - 23,000

= $163,300

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