Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

LUU JULICI U Teldileu earnings. Begin by preparing the asset section of the balance sheet, then prepare the liabilities and retained earnings sections. (If a

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
LUU JULICI U Teldileu earnings. Begin by preparing the asset section of the balance sheet, then prepare the liabilities and retained earnings sections. (If a box is not Accumulated Depreciation.) Daniel Hair Stylists Balance Sheet December 31, 2018 Assets Les of 9 (1 complete) Data Table . Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash 1,400 Accounts Receivable 2,000 Office Supplies 500 Equipment 19,600 Accumulated Depreciation-Equipment $ 2,400 Accounts Payable 700 Interest Payable 700 Notes Payable 3,800 Common Stock 12,200 Dividends 1,300 Service Revenue 14,100 Rent Expense 4,000 Online EUR Print Done Clear All of 9 (1 complete) Data Table DEVIL Creu $ 1,400 2.000 500 19,600 $ ALLOUTIL True Cash Accounts Receivable Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Interest Payable Notes Payable Common Stock Dividends Service Revenue Rent Expense Supplies Expense Depreciation Expense-Equipment Interest Expense 2.400 700 700 3,800 12.200 1,300 14,100 4,000 1,000 2,400 1,700 33,900 $ $ 33,900 Total Print Done Clear All Daniel Hair Stylists Statement of Retained Earnings Year Ended December 31, 2018 Retained Earnings, January 1, 2018 Net income for the year 5.000 Dividends 5,000 (1,300) 3,700 Retained Earnings, December 31, 2018

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Ba 213 At Central Oregon Community College

Authors: Albrecht

1st Edition

1111523622, 978-1111523626

More Books

Students also viewed these Accounting questions