Question
2. Use the appropriate information from below to prepare a Retained Earnings Statement in good form for MuggleCorp for the year ended December 31, 2017.
2. Use the appropriate information from below to prepare a Retained Earnings Statement in good form for MuggleCorp for the year ended December 31, 2017. Use the space on this page. (20 POINTS).
| Net Income from Income Statement FYE December 31, 2017 | $3,000 |
| Cash from Post Closing Trial Balance Jan 1, 2017 | $25,000 |
| Service Revenue from Income Statement FYE December 31, 2017 | $87,000 |
| Cash from Adjusted Trial Balance December 31, 2017 | $22,000 |
| Retained Earnings From Post Closing Trial Balance January 1, 2017 | $14,000 |
| Total Operating Expenses from Income Statement December 31, 2017 | $41,000 |
| Unearned Revenue from Adjusted Trial Balance December 31, 2017 | $6,700 |
| Dividends From Adjusted Trial Balance December 31, 2017 | $4,000 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
AML Auditing Understanding Fraud And Embezzlement What Every AML KYC Auditor Should Know
Authors: Bob Walsh
1st Edition
1539591794, 978-1539591795
