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Presented below is information related to Alexis and Ryans, Attorneys at Law. Retained earnings, January 1, 2020 ............................. $ 23,000 Legal service revenue2020 ........................................ 340,000 Total expenses2020 ................................................... 211,000 Assets, January 1, 2020 ................................................. 85,000 Liabilities, January 1, 2020 ............................................

Presented below is information related to Alexis and Ryans, Attorneys at Law.

Retained earnings, January 1, 2020 .............................  $ 23,000

Legal service revenue—2020 ........................................  340,000
Total expenses—2020 ...................................................  211,000
Assets, January 1, 2020 .................................................     85,000
Liabilities, January 1, 2020 ............................................     62,000
Assets, December 31, 2020 ..........................................   168,000
Liabilities, December 31, 2020 .....................................     80,000
Dividends—2020 ............................................................    64,000


Instructions

Prepare the 2020 retained earnings statement for Alexis and Ryans, Attorneys at Law.

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ALEXIS AND RYAN, ATTORNEYS AT LAW Retained Earnings State…View the full answer


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Related Book For  answer-question
Financial and Managerial Accounting

Financial and Managerial Accounting

ISBN: 978-1119392132

3rd edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Details
Chapter # 1
Section: Exercises
Problem: 16
Posted Date: January 23, 2019 06:23:19
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