(The following information applies to the questions displayed below] Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the company's records show the following selected accounts and amounts for the month of December Cash Accounts receivable office supplies office equipment Land Accounts payable Common stock $ 25,200 Dividends 22,240 Consulting revenue 5,080 Reat expense 19,860 Salaries expense 43,890 Telephone expense 10,840 Miscellaneous expenses 100, 300 $ 5,830 26,880 9,390 5,450 690 390
(The following information applies to the questions displayed below] Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the company's records show the following selected accounts and amounts for the month of December Cash Accounts receivable office supplies office equipment Land Accounts payable Common stock $ 25,200 Dividends 22,240 Consulting revenue 5,080 Reat expense 19,860 Salaries expense 43,890 Telephone expense 10,840 Miscellaneous expenses 100, 300 $ 5,830 26,880 9,390 5,450 690 390
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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[The following information applies to the questions displayed below.]
Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31,
the company's records show the following selected accounts and amounts for the month of December.
Cash
Accounts receivable
office supplies
office equipment
Land
Accounts payable
Common stock
HELP TODAY
Statement of Retained Earnings
Retained earnings, December 11
Add: Net income
$ 25,200
Dividends
22,240 Consulting revenue
5,080 Reat expense
19,860 Salaries expense
43,890 Telephone expense
10,840 Miscellaneous expenses
100, 300
Use the above information to prepare a December statement of retained earnings for Help Today. The Retained Earnings account
balance at December 1 was $0, Hint: Net income for December is $10.960.
Less: Dividends
Retained earnings, December 1
$
0
$ 5,830
26,880
0
9,390
5,450
690
390](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F707243d1-f765-4937-a2b2-48f7f9ad924b%2F3a9fa61d-562c-48a2-8f59-7f7d1a40762f%2F09klbq4_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31,
the company's records show the following selected accounts and amounts for the month of December.
Cash
Accounts receivable
office supplies
office equipment
Land
Accounts payable
Common stock
HELP TODAY
Statement of Retained Earnings
Retained earnings, December 11
Add: Net income
$ 25,200
Dividends
22,240 Consulting revenue
5,080 Reat expense
19,860 Salaries expense
43,890 Telephone expense
10,840 Miscellaneous expenses
100, 300
Use the above information to prepare a December statement of retained earnings for Help Today. The Retained Earnings account
balance at December 1 was $0, Hint: Net income for December is $10.960.
Less: Dividends
Retained earnings, December 1
$
0
$ 5,830
26,880
0
9,390
5,450
690
390
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