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$ 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
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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$ 930 $ 14,890 12, 820 Consulting revenue 2, 290 Rent expense 16, 900 Salaries expense 45, 960 Telephone expense 7,670 Miscellaneous expenses 83, 010 Cash Cash dividends 12, 820 Accounts receivable Office supplies office equipment 2,530 5,780 790 Land Accounts payable Common stock 610 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 ces Retained earnings. December 1 $ %24
Transcribed Image Text:$ 930 $ 14,890 12, 820 Consulting revenue 2, 290 Rent expense 16, 900 Salaries expense 45, 960 Telephone expense 7,670 Miscellaneous expenses 83, 010 Cash Cash dividends 12, 820 Accounts receivable Office supplies office equipment 2,530 5,780 790 Land Accounts payable Common stock 610 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 ces Retained earnings. December 1 $ %24
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