At the beginning of April, Owl Corporation has a balance of $11,500 in the Retained Earnings account. During the month of April, Owl had the following external transactions.

1. Issue common stock for cash, $10,000. 2. Provide services to customers on account, $7,000. 3. Provide services to customers in exchange for cash, $1,700. 4. Purchase equipment and pay cash, $6,100. 5. Pay rent for April, $1,200. 6. Pay employee salaries for April, $2,000. 7. Pay dividends to stockholders, $1,250.

Required:

Using the external transactions above, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.)

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At the beginning of April, Owl Corporation has a balance of $11,500 in the Retained Earnings account. During the month of April, Owl had the following external transactions. 1. Issue common stock for cash, $10,000. 2. Provide services to customers on account, $7,000. 3. Provide services to customers in exchange for cash, $1,700. 4. Purchase equipment and pay cash, $6,100. 5. Pay rent for April, $1,200. 6. Pay employee salaries for April, $2,000. 7. Pay dividends to stockholders, $1,250. Required: Using the external transactions above, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.) Transaction Balance $ 11,500 Retained earnings, April 1 1. Issue common stock for cash, $10,000. 2. Provide services to customers on account, $7,000. 3. Provide services to customers in exchange for cash, $1,700. 4. Purchase equipment and pay cash, $6,100. 5. Pay rent for April, $1,200. 6. Pay employee salaries for April, $2,000. 7. Pay dividends to stockholders, $1,250. Retained earnings, April 30