using the data given prepare a statement of retained earnings for the month ended September 30, 2017
eBook Calculator Income Statement, Statement of Retained Earnings, and Balance Sheet The following list, in alphabetical order, shows the various items that regularly appear on the financial statements of Maple Park Theatres Corp. The amounts shown for balance sheet items are balances as of September 30, 2017 (with the exception of retained earnings, which is the balance on September 1, 2017), and the amounts shown for income statement items are balances for the month ended September 30, 2017. $17,110 Furniture and fixtures $33,800 26,500 20,000 22,400 Accounts payable Accounts receivable Advertising expense Buildings Capital stock Cash Concessions revenue Cost of concessions sold Dividends paid during the month 6,460 Land 14,220 Notes payable 55,000 Projection equipment 45,000 Rent expense-movies 14,710 Retained earnings 61,920 Salaries and wages expense 23,480 Ticket sales 8,300 Water, gas, and electricity 49,670 68,320 46,210 94,790 6,390 1. Using the data given, prepare an income statement for the month ended September 30, 2017 Maple Park Theatres Corp. Income Statement For the Month ended September 30, 2017 Revenues: Ticket sales Previous Next > Check My Work All work saved Save and Exit Submit Assignment for Grading eBook Calculator Revenues Ticket sales 94,790 Concessions revenue 61.920 Total revenues Expenses: Rent expense-movies Cost of concessions sold Advertising expense Salaries and wages expense Water, gas, and electricity Total expenses Net Income Che Work 1) Revenue represents income received from normal business activities. Two items should be listed on the inside column and a subtotal in the right column. 2) Expenses represent all of the various costs necessary to generate revenue. Five items are listed on the inside column and a subtotal in the right column. Check My Work Previous Next 2. Using the data given, prepare a statement of retained earnings for the month ended September 30, 2017. Maple Park Theatres Corp. Statement of Retained Earnings For the Month ended September 30, 2017 Retained earnings, beginning balance, September 1, 2017 Net Income for September Dividends for September Retained earnings, ending balance, September 30, 2017 Feedback Check My Work The retained earnings statement summarizes the income earned and dividends paid over the life of a business, Retained earnings represents the accumulated earnings of a corporation less the amounts paid in dividends to stockholders. Dividends are distributions of the net income, or profits, of a business to its stockholders. 3. Using the data given, prepare a balance sheet at September 30, 2013 Maple Park Theatres Corp. Balance Sheet September 30, 2017 Assets Check My Work Previous Next > All work saved Save and Exit Submit Assignment for Grading eBook Calculator 3. Using the data given, prepare a balance sheet at September 30, 2017. Maple Park Theatres Corp. Balance Sheet September 30, 2017 Assets Cash Accounts receivable Land Buildings Furniture and fixtures Projection equipment Quilo). QIII. Total assets Liabilities and stockholders' equity Accounts payable Notes payable Capital stock Retained earnings Total liabilities and stockholders' equity Check My Work
