Prepare the 2017 Statement of Retained Earnings for Daniels Consulting Corporation below

DANIELS CONSULTING

Adjusted Trial Balance - Worksheet

(Before Clsoing Entries - Use for financial statements)

Account Names

Adjusted Trial Balance

Debit

Credit

Cash

$ 689,323

Accounts Receivable

1,100

Allowance for Bad Debts

312

Office Supplies

15

Equipment

7,200

Software Inventory

300

Prepaid Rent

-

Accumulated DepreciationEquipment

840

Furniture

6,000

Accumulated Depreciation Furniture

750

Land

271,485

Short Term Investment - Trading

4,500

FV Adjustment - Trading

1,500

Accounts Payable

1,010

Unearned Revenue

900

Salaries Payable

-

Long-term note payable

303,970

Bonds Payable

500,000

Discount on Bonds Payable

48,930

Inerest Payable

18,532

Daniels, Capital

-

Retained Earnings

-

-

Common Stock

36,000

Paid in capital in excess par C/S

13,452

Preferred Stock

125,000

Paid in capital in excess par P/S

12,500

Sales Revenue

102,915

Service Revenue

34,100

Unrealized Holding G/L

1,500

Interest Revenue

275

COGS

56,610

Rent Expense

27,200

Utilities Expense

4,960

Supplies Expense

455

Salaries Expense

11,275

Interest Expense

19,121

Bad Debt Expense

488

Bank Expense

113

Depreciaiton ExpenseEquipment

780

Depreciation ExpenseFurniture

700

Total

$1,152,056

$1,152,056

DANIELS CONSULTING, INC.
Statement of Retained Earnings
Year Ended December 31, 2017
Retained Earnings, January 1, 2017						$
Retained Earnings, December 31, 2017						$