The following financial information was taken from the books of Zone Health Club, a small spa...
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The following financial information was taken from the books of Zone Health Club, a small spa and fitness club. Account Balances as of December 31, Year 2 Accounts Receivable Accounts Payable Salaries Payable Cash Dividends Operating Expenses Prepaid Rent Rent Expense Retained Earnings, Beginning Salaries Expense Service Revenue Supplies Supplies Expense Common Stock Unearned Revenue Land $26,300 7,600 10,600 41,000 5,000 2,310 2,600 7,400 18,700 31,100 67, 280 270 2,100 20, 200 7,000 13,300 What is the Retained earnings in the END that should be put at the bottom of the balance sheet? The following financial information was taken from the books of Zone Health Club, a small spa and fitness club. Account Balances as of December 31, Year 2 Accounts Receivable Accounts Payable Salaries Payable Cash Dividends Operating Expenses Prepaid Rent Rent Expense Retained Earnings, Beginning Salaries Expense Service Revenue Supplies Supplies Expense Common Stock Unearned Revenue Land $26,300 7,600 10,600 41,000 5,000 2,310 2,600 7,400 18,700 31,100 67, 280 270 2,100 20, 200 7,000 13,300 What is the Retained earnings in the END that should be put at the bottom of the balance sheet?
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To calculate the Retained Earnings at the end of the year we need to consider the net incom... View the full answer
Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
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