Question
The income statement for the Four Oaks Golf Club Inc. for the month ended July 31 shows Service Revenue $17,410; Salaries and Wages Expense $8,770;
The income statement for the Four Oaks Golf Club Inc. for the month ended July 31 shows Service Revenue $17,410; Salaries and Wages Expense $8,770; Maintenance and Repairs Expense $4,180; and Income Tax Expense $1,080. The statement of retained earnings shows an opening balance for Retained Earnings of $21,060 and Dividends $1,770.
(B) What is the ending balance in Retained Earnings?
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Financial Accounting
Authors: Patricia A. Libby, Daniel Short, George Kanaan, Maureen Libby Gowing, Robert Libby
4th Canadian Edition
0070001499, 9780070001497
