I need help with this $ 930$ 14,89012, 820 Consulting revenue2, 290 Rent expense16, 900 Salaries expense45, 960 Telephone expense7,670 Miscellaneous expenses83, 010CashCash dividends12, 820Accounts receivableOffice suppliesoffice equipment2,5305,780790LandAccounts payableCommon stock610Exercise 1-19 (Algo) Preparing a statement of retained earnings LO P2Using the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings onDecember 1 was $0.ERNST CONSULTINGStatement of Retained EarningcesRetained earnings. December 1$%24

Statement of retained earnings is not a standalone financial statement but it is prepared and shown…

$ 14,890 Cash dividends 12, 820 Consulting revenue 2, 290 Rent expense 16, 900 Salaries expense 45, 960 Telephone expense 7,670 Miscellaneous expenses $ 930 12,820 2,530 5, 780 790 Cash Accounts receivable Office supplies office equipment Land 610 Accounts payable Common stock 83,010 Exercise 1-19 (Algo) Preparing a statement of retained earnings LO P2 Using the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings on December 1 was $0. ERNST CONSULTING Statement of Retained Earning Retained earnings, December 1 24

$ 14,890 Cash dividends 12, 820 Consulting revenue 2, 290 Rent expense 16, 900 Salaries expense 45, 960 Telephone expense 7,670 Miscellaneous expenses $ 930 12,820 2,530 5, 780 790 Cash Accounts receivable Office supplies office equipment Land 610 Accounts payable Common stock 83,010 Exercise 1-19 (Algo) Preparing a statement of retained earnings LO P2 Using the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings on December 1 was $0. ERNST CONSULTING Statement of Retained Earning Retained earnings, December 1 24

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter1: Accounting And The Financial Statements

Section: Chapter Questions

Problem 46E: OBJECTIVE 6 Exercise 1-46 Income Statement ERS Inc. maintains and repairs office equipment. ERS had...

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Problem 1-65A Relationships Among Financial Statements Carson Corporation reported the following amounts for assets and liabilities at the beginning and end of a recent year. Required: Calculate Carsons net income or net loss for the year in each of the following independent situations: Carson declared no dividends. and its common stock remained unchanged. Carson declared no dividends and issued additional common stock for $40,000 cash. Carson declared dividends totaling $5000 and its common stack remained unchanged. Carson declared dividends totaling $20,000 and issued additional common stock for $35,000.
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