You are the accountant for Trumpet and Trombone Manufacturing, Inc. and you oversee the preparation of financial
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You are the accountant for Trumpet and Trombone Manufacturing, Inc. and you oversee the preparation of financial statements for the year just ended 6/30/2020. You have the following information from the company’s general ledger and other financial reports (all balances are end-of-year except for those noted otherwise):
Prepare the company’s Statement of Retained Earnings
Transcribed Image Text:
Cash Common stock Accounts receivable Accounts payable Cash dividends declared for the year Additional paid-in capital Prepaid insurance Unearned revenue Retained earnings, beginning of the year Net income for the year 18,000 16,000 19,000 11,000 12,000 17,000 15,000 14,000 26,000 39,000
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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