Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each...
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Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement, enter the accounts in Chart of Accounts order and the account balances. Then, calculate ending retained earnings. Enter any decreases using a minus sign or parentheses. SMART TOUCH LEARNING SMART TOUCH LEARNING Adjusted Trial Balance Income Statement December 31, 2016 Month Ended December 31, 2016 Balance Revenue: Account Title Debit Credit Service Revenue 61,000 Cash 20.200 Expenses: Accounts Receivable 11,100 Office Supplies 200 Depreciation Expense-Furniture 2,600 Prepaid Rent 13,400 Interest Expense 400 Furriture 23,500 Rent Expense 4,000 Accumulated Depreciation-Furniture 8,000 Salaries Expense 4,700 Accounts Payable 2,600 Supplies Expense 1,000 Salaries Payable 600 Total Expenses 12.700 Net Income Interest Payable 400 48,300 Unearned Revenue 6,700 Notes Payable 9,400 SMART TOUCH LEARNING Common Stock 13,200 Statement of Retained Earnings Retained Earnings 13,400 Dividends 34,200 Month Ended December 31, 2016 Service Revenue 61,000 Retairied Eartargs, December 1, 2016 Depreciation Expense-Furniture 2,600 Net income for the month Interest Expense 400 Rent Expense 4.000 Dividends Salaries Expense 4,700 Retained Lamngs December 312016 Supplies Experse 1,000 Total 115.300 115,300 Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement, enter the accounts in Chart of Accounts order and the account balances. Then, calculate ending retained earnings. Enter any decreases using a minus sign or parentheses. SMART TOUCH LEARNING SMART TOUCH LEARNING Adjusted Trial Balance Income Statement December 31, 2016 Month Ended December 31, 2016 Balance Revenue: Account Title Debit Credit Service Revenue 61,000 Cash 20.200 Expenses: Accounts Receivable 11,100 Office Supplies 200 Depreciation Expense-Furniture 2,600 Prepaid Rent 13,400 Interest Expense 400 Furriture 23,500 Rent Expense 4,000 Accumulated Depreciation-Furniture 8,000 Salaries Expense 4,700 Accounts Payable 2,600 Supplies Expense 1,000 Salaries Payable 600 Total Expenses 12.700 Net Income Interest Payable 400 48,300 Unearned Revenue 6,700 Notes Payable 9,400 SMART TOUCH LEARNING Common Stock 13,200 Statement of Retained Earnings Retained Earnings 13,400 Dividends 34,200 Month Ended December 31, 2016 Service Revenue 61,000 Retairied Eartargs, December 1, 2016 Depreciation Expense-Furniture 2,600 Net income for the month Interest Expense 400 Rent Expense 4.000 Dividends Salaries Expense 4,700 Retained Lamngs December 312016 Supplies Experse 1,000 Total 115.300 115,300
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solution 1 SMART TOUCH LEARNING Income Statement month ended december 31 2016 revenue sales revenue ... View the full answer
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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