wwwwwwwwwThe Sky Blue Corporation has the following adjusted trial balance at December 31.CreditSmCashAccounts ReceivablePrepaid InsuranceNotes Receivable (long-term)EquipmentAccumulated Depreciation.Accounts PayableSalaries and Wages PayableIncome Taxes Payable.Deferred RevenueCommon StockRetained EarningsDividendsSales RevenueRent RevenueRequired:Prepare a statement of retained earnings for the year.Salaries and Wages ExpenseDepreciation ExpenseUtilities ExpenseInsurance ExpenseRent ExpenseIncome Tax ExpenseTotalSKY BLUE CORPORATIONStatement of Retained EarningsBalance, January 1Balance, December 31ServersDebit$ 1,2602,3002,6003,30013,50033022,2001,6004,5201,7006,3003,200$ 62,810$ 3,2005,7201, 1503,2006602,7001,12044,730330$ 62,810

The income statement and statement of stockholders' equity are the different financial statements of…

The Sky Blue Corporation has the following adjusted trial balance at December 31. Credit Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense Total Debit $ 1,260 2,300 2,600 3,300 13,500 330 22,200 1,600 4,520 1,700 6,300 3,200 $ 3,200 5,720 1,150 3,200 660 2,700 1,120 44,730 330

The Sky Blue Corporation has the following adjusted trial balance at December 31. Credit Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense Total Debit $ 1,260 2,300 2,600 3,300 13,500 330 22,200 1,600 4,520 1,700 6,300 3,200 $ 3,200 5,720 1,150 3,200 660 2,700 1,120 44,730 330

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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