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At the beginning of April, Owl Corporation has a balance of $11,300 in the Retained Earnings account. During the month of April, Owl had the
At the beginning of April, Owl Corporation has a balance of $11,300 in the Retained Earnings account. During the month of April, Owl had the following external transactions. 1. Issue common stock for cash, $12,000. 2. Provide services to customers on account, $6,800. 3. Provide services to customers in exchange for cash, $1,500. 4. Purchase equipment and pay cash, $5,900. 5. Pay rent for April, $1,300. 6. Pay employee salaries for April, $1,800. 7. Pay dividends to stockholders, $1,150. Required: Using the external transactions above, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.) Transaction Balance $ 11,300 Retained earnings, April 1 1 Issue common stock for cash, $12,000. 2. Provide services to customers on account, $6,800. 3. Provide services to customers in exchange for cash, $1,500. 4. Purchase equipment and pay cash, $5,900. 5. Pay rent for April, $1,300. 6. Pay employee salaries for April, $1,800. 7 Pay dividends to stockholders, $1,150. Retained earnings, April 30
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