From the following accounts of Waves Salon, Inc., prepare the businesss statement of retained earnings for the
Question:
From the following accounts of Waves Salon, Inc., prepare the business’s statement of retained earnings for the year ended July 31,2012:
Transcribed Image Text:
Retained Earnings Dividends Clo 150,000 Aug 1 92.000t 31 24,000 77,000 Clo 299,000 Jan 31 10,000 Bal 164,000 Apr 30 25,000 Jul 31 18,000 Bal 77,000 Clo 77,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 53% (15 reviews)
Waves Salon Inc Statement of Retained Earnings Year E...View the full answer
Answered By
Khurram shahzad
I am an experienced tutor and have more than 7 years’ experience in the field of tutoring. My areas of expertise are Technology, statistics tasks I also tutor in Social Sciences, Humanities, Marketing, Project Management, Geology, Earth Sciences, Life Sciences, Computer Sciences, Physics, Psychology, Law Engineering, Media Studies, IR and many others.
I have been writing blogs, Tech news article, and listicles for American and UK based websites.
4.90+
5+ Reviews
17+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
The account balances for the year ended July 31, 2012, for Northeast Industries, Inc., are listed next: Requirements 1. Prepare Northeast Industries, Inc.s multi-step income statement. 2. Prepare...
-
From the following accounts of Kurlz Salon, Inc., prepare the businesss statement of retained earnings for the year ended December 31, 2013: Retained Earnings Dividends Clo 95,000 Jan1 188,000 Mar 31...
-
From the following accounts of Done Right Auto Detail, Inc., prepare the business's statement of retained earnings for the year ended March 31, 2016: Retained Earnings 123,000 234,000 159,000...
-
Alderon Industries manufactures chemicals for various purposes. One process that Alderon uses produces SPL-3, a chemical used in swimming pools; PST-4, a chemical used in pesticides; and RJ-5, a...
-
The phase line in Exercise 12. From the given phase-line diagram, sketch a possible graph of the rate of change of x as a function of x. start here x=2 x=4 x=8
-
How does the takt time change as the demand rate increases? a. The takt time increases. b. The takt time stays the same. c. The takt time decreases. d. Cannot determine from the given information.
-
Studies found that exposure to everyday sources of aluminum does not cause Alzheimers disease. (Source: Alzheimers Association)
-
Boehm Incorporated is expected to pay a $1.50 per share dividend at the end of this year (i.e., D1 = $1.50). The dividend is expected to grow at a constant rate of 7% a year. The required rate of...
-
Which inventory costing method most closely approximates current cost for each of the following: Ending Inventory Cost of Goods Sold a) FIFO FIFO b) FIFO LIFO c) LIFO FIFO d) LIFO LIFO (select ONE of...
-
A gas containing only CH4 and N2 is burned with air yielding a flue gas that has an Orsat analysis of CO2 8.7%, CO 1.0%, O2 3.8%, and N2 86.5%. Calculate the percent excess air used in combustion and...
-
Prepare closing entries Requirements 1. Using the following selected accounts of Everyday Electrical, Inc., at November 30, 2012, to prepare the entitys closing entries: 2. What is Everyday...
-
The following post-closing trial balance was prepared for Sitting Pretty Portraits, Inc. Prepare a corrected post-closing trial balance. Assume all accounts have normal balances and the amounts...
-
Show that the set L(X, Y) of all linear functions X Y is a linear space.
-
Description: duff owes relatives $13,000 for college loans. find the required quarterly payment into a sinking fund if duff pays off the loan in 3 years and the interest rate is 8% per year...
-
1 3 , 9 5 0 ) Repairs and Maintenance ( $ 2 , 8 5 0 ) Utilities Expense ( $ 8 8 0 ) Operating Income $ 1 0 , 2 4 2 Other Income - Gain on Sale $ 3 0 0 Interest Expense ( $ 2 5 0 ) Earnings Before...
-
Description: The company currently has outstanding a bond with a 5.5 percent coupon rate and another bond with a 3.5 percent coupon rate. The firm has been informed by its investment banker that...
-
Find the equation of line joining the points (4, -3) and (-2, 7).
-
Calculate the work of reversible expansion of 1 mole of ideal gas at 25 degree celsius from 10 L to 20 L.
-
Fargo Memorial Hospital has annual net patient service revenues of $14,400,000. It has two major third-party payers, plus some of its patients are self-payers. The hospitals patient accounts manager...
-
The National Collegiate Athletic Association (NCAA) and the National Federation of State High School Associations (NFHS) set a new standard for non-wood baseball bats. Their goal was to ensure that...
-
Divide your group in two camps. One side should debate the merits of closing the gender gap by enforcing laws, such as quotas. The other side should argue that the change should happen organically...
-
Journalize the following transactions of Olympic Sports, Inc., a chain of sports stores: May 4 Issued 21,000 shares of no-par common stock at $9 per share. Jul 22 Purchased 1,500 shares of treasury...
-
Mid America, Inc., had the following stockholders' equity on November 30: On December 15, Mid America, Inc., purchased 10,000 shares of treasury stock at $8 per share. Requirements 1. Journalize the...
-
Tsongas Manufacturing Co. has the following selected account balances at July 31, 2016. Requirements Prepare the stockholders' equity section of the company's balance sheet? Common Stock, no par with...
-
essential con Example 15: Mr. Sunil Mukharjee has estimated probable under different macroeconomic conditions for the following three stocks: Stock Current Price (Rs.) Rates of return (%) during...
-
ABC Corporation has an activity - based costing system with three activity cost pools - Machining, Setting Up , and Other. The company's overhead costs, which consist of equipment depreciation and...
-
Consolidated Balance Sheets - USD ( $ ) $ in Thousands Dec. 3 1 , 2 0 2 3 Dec. 3 1 , 2 0 2 2 Current assets: Cash and cash equivalents $ 9 8 , 5 0 0 $ 6 3 , 7 6 9 Restricted cash 2 , 5 3 2 Short -...
Study smarter with the SolutionInn App