Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On December 31, Hawkin's records show the following accounts $ 7,300 600 4,100 14,100 7,100 Cash Accounts Receivable Supplies Equipment Accounts Payable Common stock

 

On December 31, Hawkin's records show the following accounts $ 7,300 600 4,100 14,100 7,100 Cash Accounts Receivable Supplies Equipment Accounts Payable Common stock Retained earnings, December 1 Dividends Services Revenue Mages Expense Rent Expense utilities Expense HAWKIN Statement of Retained Earnings For Month Ended December 31 OS 1-16 (Algo) Preparing a statement of retained earnings LO P2 Use the above information to prepare a statement of retained earnings for Hawkin for the month ended December 31. Hint. Net income is $4,700. Retained earrings, December 1 Retained earings, December 31 S 0 12,400 5,100 3,200 17,100 0 8,000 2,690 1,800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Lets calculate the retained earnings Retained earnings December 1 This is given as 5100 Net Income ... 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

Intermediate Accounting Reporting and Analysis

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

1st edition

1111822360, 978-1337116619, 1337116610, 978-1111822378, 1111822379, 978-1111822361

More Books

Students also viewed these Accounting questions

Question

What other publications/presentations does the person have?

Answered: 1 week ago

Question

Explain the steps in the violence and chilling effect cycles.

Answered: 1 week ago

Question

List the six steps in constructive confrontation.

Answered: 1 week ago