Answered step by step
Verified Expert Solution
Question
1 Approved Answer
accountin 1 (Click the icon to view the adjusted trial balance.) Read the requirements. Service revenue $ 105,600 Expenses: Depreciation expense $ 1,400 Salary expense
accountin 1
(Click the icon to view the adjusted trial balance.) Read the requirements. Service revenue $ 105,600 Expenses: Depreciation expense $ 1,400 Salary expense 40,600 Rent expense 10,400 Interest expense 3,200 Insurance expense 4,100 Supplies expense 2,500 62,200 Income before tax Income tax expense 7,200 Net income $36,200 Now prepare the statement of retained earnings. (Include a subtotal after the "Add" line Dreamer Corporation Statement of Retained Earnings Year Ended May 31, 2018 Retained eamings, May 31, 2017 43,400 Add: Net Income Subtotal Less Dividends Retained eamings, May 31, 2018 DemoDocs Example e Text Pages Get More Help P3-62A (simil... > Points: 0.26 of 1 Data Table 17,000 18,800 3,000 1,400 36,500 Cash Accounts receivable Supplies Prepaid rent Equipment Accumulated depreciation-equipment Accounts payable Interest payable Uneamed service revenue Income tax payable Note payable Common stock Retained earnings 4,700 8,600 300 700 2,200 19,000 10,000 5.000 Dividends 10.000 105,600 1,400 Service revenue Depreciation expense equipment Salary expense Rent expense Interost expense Insurancemen 40,600 10,400 3,200 4 100 Print Done - X Data Table HOUSTOVI T0,000 3.000 1,400 36,500 $ 4,700 8,600 300 700 2.200 Supplies Prepaid rent Equipment Accumulated depreciation equipment Accounts payable Interest payable Uneared service revenue Income tax payable Note payable Common stock Retained earnings Dividends Service revenue Depreciation expense quomont Salary expose Rent expanse Interest expense Insurance Supposed 19,000 10,000 5.000 10.000 statement) 105.600 1.400 40.000 10.400 2.200 4,100 2500 Print Dono Ne 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