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The income statement for the Windsor, Inc. for the month ended July 31 shows Service Revenue $16,870, Salaries and Wages Expense $8,870, Maintenance and Repairs
The income statement for the Windsor, Inc. for the month ended July 31 shows Service Revenue $16,870, Salaries and Wages Expense $8,870, Maintenance and Repairs Expense $3,800, and Income Tax Expense $1,210. The statement of retained earnings shows an opening balance for Retained Earnings of $22,600 and Dividends $1,700. ccount Titles and Explanation Debit Credit Service Revenue 16870 Income Summary 16870 o close revenue account) Income Summary 13880 Salaries and Wages Expense Maintenance and Repairs Expense 3800 Income Tax Expense 1210 o close expense accounts) Income Summary Retained Eamings o close net income/(loss) to retained eamings) Retained Eamings Dividends o close dividends to retained eamings) What is the ending balance in Retained Earnings? Ending balance in Retained Earnings 5
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