Required information

Skip to question

[The following information applies to the questions displayed below.] Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the companys records show the following selected accounts and amounts for the month of August.

Cash	$	25,360	Dividends	$	6,000
Accounts receivable		22,360	Consulting fees earned		27,000
Office supplies		5,250	Rent expense		9,550
Land		44,000	Salaries expense		5,600
Office equipment		20,000	Telephone expense		860
Accounts payable		10,500	Miscellaneous expenses		520
Common stock		102,000

Use the above information to prepare an August statement of retained earnings for Help Today. The Retained Earnings account balance at August 1 was $0. Hint: Net income for August is $10,470.

HELP TODAY
Statement of Retained Earnings
	0
	$0