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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 August
Required information [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 company's records show the following accounts and amounts for the month of August. Cash Accounts receivable Office supplies Land office equipment Accounts payable Dividends $ 25,400 Consulting fees earned 22,410 Rent expense 5,300 Salaries expense 44,040 Telephone expense 20,050 Miscellaneous expenses 10,500 Common stock 6,040 $ 27,040 9,590 5,640 920 550 102,400 Use the above information to prepare an August statement of retained earnings for Help Today. (Hint: Net income for August is $10,340.) HELP TODAY Statement of Retained Earnings For Month Ended August 31 Total Assets 0 $ 0
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