Horngren's Financial & Managerial Accounting, The Financial Chapters (Book & Access Card)
5th Edition
ISBN: 9780134078939
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 1, Problem 1.13SE
Use the following injo17nation to answer Short Exercises S1-12 through S1-14.
Decorating Arrangements has just completed operations for the year ended December 31, 2016. This is the third year of operations for the company. The following data have been assembled for the business:
Insurance Expense | $ 2,000 |
Service Revenue | 80,000 |
Utilities Expense | 500 |
Rent Expense | 11,000 |
Common Stock | 8,500 |
Cash | 7,000 |
Retained Earnings, Jan. 1, 2016 | 4,800 |
Salaries Expense | $37,000 |
Accounts Payable | 4,300 |
Office Supplies | 1,500 |
Dividends | 4,500 |
Accounts Receivable | 7,500 |
Equipment | 26,600 |
Preparing the statement of retained earnings
Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016.
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Froduct Line
ndurtrial
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Syrtema
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Chapter 1 Solutions
Horngren's Financial & Managerial Accounting, The Financial Chapters (Book & Access Card)
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