Question
hi im taking accounting 2101 at baruch and i need a little help with this homework question At the beginning of April, Owl Corporation has
hi im taking accounting 2101 at baruch and i need a little help with this homework question
At the beginning of April, Owl Corporation has a balance of $11,800 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, $7,300.
3. Provide services to customers in exchange for cash, $2,000.
4. Purchase equipment and pay cash, $6,400.
5. Pay rent for April, $1,200.
6. Pay employee salaries for April, $2,300.
7. Pay dividends to stockholders, $1,400.
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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