How to prepare statement of retained earnings Adjusted Trial Balance December 31, 2014 DebitCreditCash 6,590 Accounts Receivable 15,618 Prepaid Rent 1,200 Equipment 31,800 Accumulated Deprecitaion - Equipment 9,680Notes Payable 12,500Accounts Payable 11,601Common Stock 20,000Retained Earnings 3,619Dividends 6,000 Service Revenue 27,600Salaries & Wages Expense 15,600 Rent Expense 7,800 Depreciation Expense 392 Interest Expense 211 Interest Payable 211 85,21185,211

Answered: How to prepare statement of retained…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 1.3.3P: Income statement, retained earnings statement, and balance sheet The following financial data were...

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How to prepare statement of retained earnings


Adjusted Trial Balance
December 31, 2014
			Debit	Credit
Cash			6,590
Accounts Receivable	15,618
Prepaid Rent		1,200
Equipment		31,800
Accumulated Deprecitaion - Equipment	9,680
Notes Payable			12,500
Accounts Payable			11,601
Common Stock			20,000
Retained Earnings			3,619
Dividends		6,000
Service Revenue			27,600
Salaries & Wages Expense	15,600
Rent Expense		7,800
Depreciation Expense	392
Interest Expense		211
Interest Payable			211
			85,211	85,211

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