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Blossom Company was organized on April 1, 2020. The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below.
Blossom Company was organized on April 1, 2020. The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below. Debits Credits Cash R$ 6,900 Accumulated Depreciation Equipment R$ 700 Accounts Receivable 480 Notes Payable 4,100 Prepaid Rent 1,100 Accounts Payable 700 Supplies 900 Salaries and Wages Payable 400 Equipment 12,800 Interest Payable 70 Dividends 500 Unearned Rent Revenue 400 Salaries and Wages Expense 7,000 Share Capital-Ordinary 12,480 Rent Expense 1,300 Service Revenue 11,800 Depreciation Expense 700 Rent Revenue 1,600 Supplies Expense 200 R$ 32,250 Utilities Expense 300 Interest Expense 70 R$ 32,250 Determine the net income for the quarter April 1 to June 30. Net income/(loss) R$ Determine the total assets and total liabilities at June 30, 2020, for Blossom Company Blossom Company Total assets R$ Total liabilities R$ Determine the amount that appears for Retained Earnings at June 30, 2020. Retained Earnings, June 30 R$
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