Business, 24.10.2019 17:43 smokey13

The following trial balance of jb company at december 31, year five, has been adjusted except for income taxes. the income tax rate is 30%.dr craccounts receivable, net 725,000accounts payable 250,000accumulated depreciation 125,000cash 185,000contributed capital 650,000expenses 3,750,000goodwill 140,000prepaid taxes 225,000property, plant and equipment 850,000retained earnings, 1/1/yr. 5 350,000revenues 4,500,0005,875,000 5,875,000during year five, estimated tax payments of $225,000 were paid and debited to prepaid taxes. there were no differences between financial statement and taxable income for year five. included in accounts receivable is $400,000 due from a loyal customer. special terms were granted to this customer to make payments of $100,000 semi-annually every march 1 and september 1.in jb company's december 31, year five balance sheet, what amount should be reported as total retained earnings? a. 225,000b. 525,000c. 750,000d. some other amount.

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The following trial balance of jb company at december 31, year five, has been adjusted except for in...