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Please help me with preparing a statement of retained earnings for year ended December 31, 2018 Cash $ 277,253 $ 388,753 Accounts Receivable 724,500 175,000
Please help me with preparing a statement of retained earnings for year ended December 31, 2018
Cash | $ 277,253 | $ 388,753 | |
Accounts Receivable | 724,500 | 175,000 | |
Less: Allowance for Doubtful Accounts | (28,980) | (4,600) | |
Marketable Securities | 19,500 | 18,000 | |
Inventory | 30,600 | 100,000 | |
Prepaid Rent | 6,200 | 22,000 | |
Prepaid Insurance | 3,750 | 16,000 | |
Supplies | 450 | 3,600 |
Equipment | 190,000 | 160,000 | |
Less: Accumulated Depreciation Equipment | (72,625) | (41,500) | |
Delivery Truck | 56,500 | 56,500 | |
Less: Accumulated Depreciation Delivery Truck | (24,764) | (15,875) | |
Land | 535,000 | 35,000 |
Patents (Net) | 70,000 | 75,000 |
Accounts Payable | 197,300 | 183,300 | |
Salaries Payable | 42,000 | 36,000 | |
Payroll Taxes Payable | 10,300 | 8,000 | |
Interest Payable | 7,667 | ||
Dividends Payable | 15,000 | 40,000 | |
Income Tax Payable | 130,169 | 61,585 | |
Note Payable - Short Term | 471,640 | 71,640 |
Note Payable - Long Term | 175,000 | 175,000 | |
Bond Payable (net premium) | 213,055 | 214,353 |
Common Stock $1 par | 41,000 | 30,000 | |
Paid in Capital - Common Stock | 235,000 | 123,000 | |
Retained Earnings | 376,753 | 45,000 | |
Less: Treasury Stock (net) | (57,500) | ||
Less: Unearned Compensation | (70,000) |
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