Randall's Service Company began operations on January 1,2019.The following Trial Balance was prepared on December 31,2019.Capital contributions during the year were $58,000. Randall's Service Company
Trial Balance
December 31, 2019

\begin{array}{lc}\text { Account Title}&\text { Debit}&\text { Credit}\\\text { Cash } & \$ 25,400 \\\text { Accounts Receivable } & 5,000 \\\text { Prepaid Rent } & 1,200 \\\text { Office Supplies } & 3,400 \\\text { Land } & 45,000 \\\text { Building } & 16,500 \\\text { Equipment } & 23,000\\\text { Accounts Payable } && \$ 15,000 \\\text { Unearned Revenue } && 5,000 \\\text { Notes Payable } && 25,000 \\\text { Randall, Capital } && 58,000\\\text { Randall, Withdrawals } & 6,700 \\\text { Service Revenue } &&80,300 \\\text { Salaries Expense } & 35,000 \\\text { Rent Expense } & 15.000\\\text { Office Expense } & 6,000 \\\text { Repair Expense } & \underline{1,100}&\underline{\quad\quad} \\\text { Total } & \underline{ \$ 183,300}& \underline{ \$ 183,300} \end{array}

What is the December 31,2019 balance of Randall,Capital?
A) $58,000
B) $51,300
C) $74,500
D) $16,500

A Business Renders Services to a Client and Issues a Sales

Multiple Choice

Correct Answer:VerifiedUnlock this answer nowGet Access to more Verified Answers free of chargeAccess For Free

Correct Answer:
Verified
Unlock this answer now
Get Access to more Verified Answers free of charge