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Required information [The following information applies to the questions displayed below.] Carmen Camry operates a consulting firm called Help Today, which began operations on December
Required information [The following information applies to the questions displayed below.] Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the company's records show the following selected accounts and amounts for the month of December. Cash Accounts receivable. $ 25,460 Dividends 22,510 Consulting revenue $ 6,130 27,130 office supplies Office equipment Land Accounts payable Common stock 44,130 Telephone expense 10,370 103,300 5,380 Rent expense 20,160 9,690 Salaries expense 5,710 1,010 Miscellaneous expenses 620 Use the above information to prepare a December statement of retained earnings for Help Today. The Retained Earnings account balance at December 1 was $0. Hint: Net income for December is $10,100. HELP TODAY Statement of Retained Earnings ces Retained earnings, December 1
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