These financial statement items are for Wildhorse Co. at year-end, July 31, 2017. Salaries and wages payable $ 3,880 Salaries and wages expense 59,200 Supplies expense 17,000 Equipment 20,300 Accounts payable 4,100 Service revenue 67,800 Rent revenue 9,900 Notes payable (due in 2020) 2,900 Common stock 16,000 Cash 30,900 Accounts receivable 10,880 Accumulated depreciation-equipment 7,600 Dividends 4,000 Depreciation expense 5,600 Retained earnings (beginning of the year) 35,700 Prepare a retained earnings statement for the year. Wildhorse Co. did not issue any new stock during the year. Wildhorse Co. Retained Earnings Statement $1

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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These financial statement items are for Wildhorse Co. at year-end, July 31, 2017.
Salaries and wages payable
$ 3,880
Salaries and wages expense
59,200
Supplies expense
17,000
Equipment
20,300
Accounts payable
4,100
Service revenue
67,800
Rent revenue
9,900
Notes payable (due in 2020)
2,900
Common stock
16,000
Cash
30,900
Accounts receivable
10,880
Accumulated depreciation-equipment
7,600
Dividends
4,000
Depreciation expense
5,600
Retained earnings (beginning of the year)
35,700
Transcribed Image Text:These financial statement items are for Wildhorse Co. at year-end, July 31, 2017. Salaries and wages payable $ 3,880 Salaries and wages expense 59,200 Supplies expense 17,000 Equipment 20,300 Accounts payable 4,100 Service revenue 67,800 Rent revenue 9,900 Notes payable (due in 2020) 2,900 Common stock 16,000 Cash 30,900 Accounts receivable 10,880 Accumulated depreciation-equipment 7,600 Dividends 4,000 Depreciation expense 5,600 Retained earnings (beginning of the year) 35,700
Prepare a retained earnings statement for the year. Wildhorse Co. did not issue any new stock during the year.
Wildhorse Co.
Retained Earnings Statement
$1
Transcribed Image Text:Prepare a retained earnings statement for the year. Wildhorse Co. did not issue any new stock during the year. Wildhorse Co. Retained Earnings Statement $1
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