The following information relates to Karen Weigel Co. for the year 2014. Retained earnings, January 1, 2014 .........$48,000 Dividends during 2014 ............. 5,000 Service revenue ................ 62,500 Salaries and wages expense ............ 28,000 Advertising expense .............. $ 1,800 Rent expense ................. 10,400 Utilities expense ................. 3,100 Instructions After analyzing the data, prepare an income statement and a retained earnings statement
Chapter 1, Exercises #12
The following information relates to Karen Weigel Co. for the year 2014.
Retained earnings, January 1, 2014 .........$48,000
Dividends during 2014 ............. 5,000
Service revenue ................ 62,500
Salaries and wages expense ............ 28,000
Advertising expense .............. $ 1,800
Rent expense ................. 10,400
Utilities expense ................. 3,100
Instructions
After analyzing the data, prepare an income statement and a retained earnings statement for the year ending December 31, 2014.
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KAREN WEIGEL CO. Income Statement For the Year Ended December 31, 2014 Revenues Service revenue ...…View the full answer
Related Book For 
Financial and managerial accounting
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
ISBN: 978-1118016114