Answer:
Determine the amount that will be reported as retained earnings on the post-closing trial balance.
Retainend earnings final___________30000
Explanation:
Cash__________________800
Account Receivable______ 200
Inventory_______________2500
Building________________30000
Accunulated depreciation_______________ 3000
Notes payable_________________________ 500
Common stock_________________________21000
Retainend Earnings_____________________ 5000
Dividens________________1000
Revenue_____________________________ 7000
Selling and administration_ 1000
Insurance expense_______ 1000
36500 36500
Retainend earnings______ 1000 26000
Retainend earnings initial_________ 25000
Net income_____________2000____7000
5000
Retainend earnings final___________30000