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Wildhorse Co. was organized on April 1, 2020. The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below.
Wildhorse Co. was organized on April 1, 2020. The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below. Debits Cash Accounts Receivable Prepaid Rent Supplies Equipment Dividends Salaries and Wages Expense Rent Expense Depreciation Expense Supplies Expense Utilities Expense Interest Expense Credits R$ 6,600 Accumulated Depreciation Equipment R$ 800 680 Notes Payable 4,100 1,000 Accounts Payable 900 900 Salaries and Wages Payable 400 11,900 Interest Payable 70 400 Unearned Rent Revenue 300 7,200 Share Capital-Ordinary 12,080 1,900 Service Revenue 11,600 800 Rent Revenue 1,800 200 R$32,050 400 70 R$32,050 Determine the net income for the quarter April 1 to June 30. Net income/loss) R$ e Textbook and Media Determine the total assets and total liabilities at June 30, 2020, for Wildhorse Co. Wildhorse Co. Total assets R$ Total liabilities R$ e Textbook and Media Determine the amount that appears for Retained Earnings at June 30, 2020. Retained Earnings, June 30 R$
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