The following information is related to Alexis and Ryans, Attorneys at Law. Retained earnings, January 1, 2022
Question:
The following information is related to Alexis and Ryans, Attorneys at Law.
Retained earnings, January 1, 2022 ............$ 23,000
Legal service revenue—2022 .......................340,000
Total expenses—2022 ..................................211,000
Assets, January 1, 2022 ...................................85,000
Liabilities, January 1, 2022 ..............................62,000
Assets, December 31, 2022 .........................168,000
Liabilities, December 31, 2022 ......................80,000
Dividends—2022 .............................................64,000
Instructions
Prepare the 2022 retained earnings statement for Alexis and Ryans, Attorneys at Law.
Step by Step Answer:
Financial Accounting
ISBN: 9781119594598
11th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso