Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement, enter the accounts in
Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement, enter the accounts in Chart of Accounts order and the account balances. Then, calculate ending retained earnings. Enter any decreases using a minus sign or parentheses. felp SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Account Ti Cash Accounts Receivable Office Supplies Prep Future Accumulated Depreciation-Furnitur SMART TOUCH LEARNING Income Statement Month Ended December 31, 2016 Balance Debit Credit 16,800 Service Revenue 1.300 Depreciation Expense-hanne 2.200 200 30 11,200 Expe 19600 3300 1.000 6,700 Exp 800 Suples Expe 2.200 Total Exp 500 Net Inco 306 5.600 1.000 40.300
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started