The following information is provided for a company:Accounts…

The following information is provided for a company:Accounts Payable $15,000Buildings $80,000Cash $10,500Accounts Receivable $9,500Salaries Payable $4,500Retained Earnings $47,500Supplies $40,000Notes Payable (due in 18 months) $35,000Interest Payable $3,000Common Stock $35,000 Using the appropriate accounts from above, what is the amount of CURRENT ASSETS that would be reported on the Balance Sheet?

Hoosier Incorporated has a Retained Earnings balance of $12,…

Hoosier Incorporated has a Retained Earnings balance of $12,000 on the adjusted Trial Balance. Hoosier Incorporated has Service Revenue of $10,000, Salaries Expense of $5,000, and Rent Expense of $2,000. What will the balance of Retained Earnings be after the temporary accounts are closed?