Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense Total Required: Prepare a statement of retained earnings for the year. SKY BLUE CORPORATION Statement of Retained Earnings At December 31 Balance, January 1 Balance, December 31 $ 0 Debit $ 1,290 2,600 2,900 3,600 15,000 360 22,800 1,900 4,820 2,000 6,600 3,500 $ 67,370 Credit $ 3,800 6,020 1,300 3,500 720 3,000 1,240 47,430 360 $ 67,370
Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense Total Required: Prepare a statement of retained earnings for the year. SKY BLUE CORPORATION Statement of Retained Earnings At December 31 Balance, January 1 Balance, December 31 $ 0 Debit $ 1,290 2,600 2,900 3,600 15,000 360 22,800 1,900 4,820 2,000 6,600 3,500 $ 67,370 Credit $ 3,800 6,020 1,300 3,500 720 3,000 1,240 47,430 360 $ 67,370
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Cash
Accounts Receivable
Prepaid Insurance
Notes Receivable (long-term)
Equipment
Accumulated Depreciation
Accounts Payable
Salaries and Wages Payable
Income Taxes Payable
Deferred Revenue
Common Stock
Retained Earnings
Dividends
Sales Revenue
Rent Revenue
Salaries and Wages Expense
Depreciation Expense
Utilities Expense
Insurance Expense
Rent Expense
Income Tax Expense
Total
Required:
Prepare a statement of retained earnings for the year.
SKY BLUE CORPORATION
Statement of Retained Earnings
At December 31
Balance, January 1
Balance, December 31
$
0
Debit
$ 1,290
2,600
2,900
3,600
15,000
360
22,800
1,900
4,820
2,000
6,600
3,500
$ 67,370
Credit
$ 3,800
6,020
1,300
3,500
720
3,000
1,240
47,430
360
$ 67,370
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