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Business
Accounting
Revenues Service Revenue Expenses Rent Expense Maintenance and Repairs Expense Gasoline Expense Utilities Expense Advertising Expense Total Expenses Net Income /(Loss) Marigold Corp. Income Statement For the Month Ended May 31, 2022 Marigold Corp. Retained Earnings Statement $ Prepare a retained earnings statement for the month of May. (List items that increase retained earnings first.) $ si V i i

Revenues Service Revenue Expenses Rent Expense Maintenance and Repairs Expense Gasoline Expense Utilities Expense Advertising Expense Total Expenses Net Income /(Loss) Marigold Corp. Income Statement For the Month Ended May 31, 2022 Marigold Corp. Retained Earnings Statement $ Prepare a retained earnings statement for the month of May. (List items that increase retained earnings first.) $ si V i i

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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Revenues Service Revenue Expenses Rent Expense Maintenance and Repairs Expense Gasoline Expense Utilities Expense Advertising Expense Total Expenses Net Income /(Loss) Marigold Corp. Income Statement For the Month Ended May 31, 2022 $ Marigold Corp. Retained Earnings Statement Prepare a retained earnings statement for the month of May. (List items that increase retained earnings first.) $ i $ ji
Transcribed Image Text:Revenues Service Revenue Expenses Rent Expense Maintenance and Repairs Expense Gasoline Expense Utilities Expense Advertising Expense Total Expenses Net Income /(Loss) Marigold Corp. Income Statement For the Month Ended May 31, 2022 $ Marigold Corp. Retained Earnings Statement Prepare a retained earnings statement for the month of May. (List items that increase retained earnings first.) $ i $ ji
On May 1, Marigold Corp., a company that provides flying lessons, was started by using common stock in exchange for cash of $45,300. Following are the assets and liabilities of the company on May 31, 2022, and the revenues and expenses for the month of May. Cash Accounts Receivable Equipment Service Revenue Advertising Expense Accounts Payable $4,950 7,700 64,300 7,100 Notes Payable Rent Expense 1,700 Maintenance and Repairs Expense Gasoline Expense 800 Utilities Expense $28,000 1,100 550 2,300 200
Transcribed Image Text:On May 1, Marigold Corp., a company that provides flying lessons, was started by using common stock in exchange for cash of $45,300. Following are the assets and liabilities of the company on May 31, 2022, and the revenues and expenses for the month of May. Cash Accounts Receivable Equipment Service Revenue Advertising Expense Accounts Payable $4,950 7,700 64,300 7,100 Notes Payable Rent Expense 1,700 Maintenance and Repairs Expense Gasoline Expense 800 Utilities Expense $28,000 1,100 550 2,300 200
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