The assets, liabilities, and equities of Darling Design Studio have the following balances at December 31,...
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The assets, liabilities, and equities of Darling Design Studio have the following balances at December 31, 2024. The Retained Earnings was $38,000 at the beginning of the year. At year end, Common Stock was $10,000 and Dividends were $52,000. (Click the icon to view the account balances.) (Click the icon to view the income statement for the year.) Prepare the statement of retained earnings for Darling Design Studio for the year ending December 31, 2024. Data table Notes Payable Rent Expense Cash Office Supplies Salaries Expense Property Tax Expense 9,800 26,000 3,100 4,700 61,000 1,800 Office Furniture Utilities Expense Accounts Payable Service Revenue Accounts Receivable Miscellaneous Expense 42,000 6,400 3,100 151,300 11,700 3,500 X Revenues: Service Revenue Expenses: Darling Design Studio Income Statement Year Ended December 31, 2024 Salaries Expense Rent Expense Utilities Expense Miscellaneous Expense Property Tax Expense Total Expenses Net Income $ 61,000 26,000 6,400 3,500 1,800 $ 151,300 $ 98,700 52,600 The assets, liabilities, and equities of Darling Design Studio have the following balances at December 31, 2024. The Retained Earnings was $38,000 at the beginning of the year. At year end, Common Stock was $10,000 and Dividends were $52,000. (Click the icon to view the account balances.) (Click the icon to view the income statement for the year.) Prepare the statement of retained earnings for Darling Design Studio for the year ending December 31, 2024. Data table Notes Payable Rent Expense Cash Office Supplies Salaries Expense Property Tax Expense 9,800 26,000 3,100 4,700 61,000 1,800 Office Furniture Utilities Expense Accounts Payable Service Revenue Accounts Receivable Miscellaneous Expense 42,000 6,400 3,100 151,300 11,700 3,500 X Revenues: Service Revenue Expenses: Darling Design Studio Income Statement Year Ended December 31, 2024 Salaries Expense Rent Expense Utilities Expense Miscellaneous Expense Property Tax Expense Total Expenses Net Income $ 61,000 26,000 6,400 3,500 1,800 $ 151,300 $ 98,700 52,600
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Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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