I need help with this $ 930$ 14,89012, 820 Consulting revenue2, 290 Rent expense16, 900 Salaries expense45, 960 Telephone expense7,670 Miscellaneous expenses83, 010CashCash dividends12, 820Accounts receivableOffice suppliesoffice equipment2,5305,780790LandAccounts payableCommon stock610Exercise 1-19 (Algo) Preparing a statement of retained earnings LO P2Using the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings onDecember 1 was $0.ERNST CONSULTINGStatement of Retained EarningcesRetained earnings. December 1$%24

Statement of retained earnings is not a standalone financial statement but it is prepared and shown…

$ 14,890 Cash dividends 12, 820 Consulting revenue 2, 290 Rent expense 16, 900 Salaries expense 45, 960 Telephone expense 7,670 Miscellaneous expenses $ 930 12,820 2,530 5, 780 790 Cash Accounts receivable Office supplies office equipment Land 610 Accounts payable Common stock 83,010 Exercise 1-19 (Algo) Preparing a statement of retained earnings LO P2 Using the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings on December 1 was $0. ERNST CONSULTING Statement of Retained Earning Retained earnings, December 1 24

$ 14,890 Cash dividends 12, 820 Consulting revenue 2, 290 Rent expense 16, 900 Salaries expense 45, 960 Telephone expense 7,670 Miscellaneous expenses $ 930 12,820 2,530 5, 780 790 Cash Accounts receivable Office supplies office equipment Land 610 Accounts payable Common stock 83,010 Exercise 1-19 (Algo) Preparing a statement of retained earnings LO P2 Using the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings on December 1 was $0. ERNST CONSULTING Statement of Retained Earning Retained earnings, December 1 24

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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