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How to prepare statement of retained earnings               Adjusted Trial Balance     December 31, 2014               Debit Credit Cash         6,590   Accounts Receivable     15,618   Prepaid Rent       1,200   Equipment       31,800   Accumulated Deprecitaion - Equipment     9,680 Notes Payable         12,500 Accounts Payable         11,601 Common Stock         20,000 Retained Earnings         3,619 Dividends       6,000   Service Revenue         27,600 Salaries & Wages Expense     15,600   Rent Expense       7,800   Depreciation Expense     392   Interest Expense       211   Interest Payable         211           85,211 85,211

How to prepare statement of retained earnings               Adjusted Trial Balance     December 31, 2014               Debit Credit Cash         6,590   Accounts Receivable     15,618   Prepaid Rent       1,200   Equipment       31,800   Accumulated Deprecitaion - Equipment     9,680 Notes Payable         12,500 Accounts Payable         11,601 Common Stock         20,000 Retained Earnings         3,619 Dividends       6,000   Service Revenue         27,600 Salaries & Wages Expense     15,600   Rent Expense       7,800   Depreciation Expense     392   Interest Expense       211   Interest Payable         211           85,211 85,211

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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How to prepare statement of retained earnings

             
Adjusted Trial Balance    
December 31, 2014    
          Debit Credit
Cash         6,590  
Accounts Receivable     15,618  
Prepaid Rent       1,200  
Equipment       31,800  
Accumulated Deprecitaion - Equipment     9,680
Notes Payable         12,500
Accounts Payable         11,601
Common Stock         20,000
Retained Earnings         3,619
Dividends       6,000  
Service Revenue         27,600
Salaries & Wages Expense     15,600  
Rent Expense       7,800  
Depreciation Expense     392  
Interest Expense       211  
Interest Payable         211
          85,211 85,211
             
             
             
             
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