UNK Corporation uses the following trial balance to prepare…
UNK Corporation uses the following trial balance to prepare its annual financial statements. UNK Corporation Adjusted Trial Balance December 31, 2023 Drs Crs Accounts Payable $45,000 Accounts Receivable $20,000 Accumulated Depreciation – Equipment 50,000 Allowance for Doubtful Accounts 1,000 Cash 64,500 Cash dividends 14,000 Common stock 150,000 Cost of goods sold 82,000 Depreciation expense 7,000 Equipment 250,000 Gain on sale of equipment 2,500 Merchandise inventory 24,000 Notes payable (due 9/30/30) 41,000 Prepaid rent 3,000 Retained earnings 32,000 Salaries and Wages expense 23,000 Sales returns & allowances 10,000 Sales revenue 184,000 Supplies 2,000 Unearned sales revenue 4,000 Utilities expense 10,000 TOTALS $509,500 $509,500 According to the table above, Total stockholders’ equity for the UNK Company at December 31, 2023 is: