Fouts Systems Co. offers its services to residents in the Chicago area. Selected accounts from the ledger
Question:
Fouts Systems Co. offers its services to residents in the Chicago area. Selected accounts from the ledger of Fouts Systems Co. for the current fiscal year ended October 31, 2012, are as follows:
Prepare a retained earnings statement for the year.
Transcribed Image Text:
Retained Earnings 20,000 Nov. 1 (2011) 550,000 Dividends Oct. 31 Jan. 31 5,000 Oct. 31 20,000 Oct. 31 Apr. 30 July 31 Oct. 31 105,000 5,000 5,000 5,000 Income Summary Oct. 31 Oct. 31 375,000 480,000 31 105,000
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Related Book For
Financial and Managerial Accounting Using Excel for Success
ISBN: 978-1111993979
1st edition
Authors: James Reeve, Carl S. Warren, Jonathan Duchac
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