Problem 1-3A (Part Level Submission) On june 1, 2017, whispering winds Corp. was

Question

Problem 1-3A (Part Level Submission) On june 1, 2017, whispering winds Corp. was started with an nit al investment in the company of22,320 cash. Here are the assets liabities and common stock o the company at une 30 2017, and the revenues and expenses for the month of June its first month of operations: 5,600 Notes payable 4,140 Accounts payable 8,500 Supplics expense 2,380 Maintenance and repairs expense $14,000 640 1,020 620 280 2,400 Cash counts receivable Service revenue Supplies Advertising axpens Equipment Common stock 400 tiities expensa 27,000 Salaries and wages expense 22,320 In June, the company issued no additional stock but paid dividends of $1,620,. (n1) (a2) Prepare a retained eanings statement for the month of June. (List items thot increase retained earnings first.) Whispering Winds Corp. Retained Earnings Statement

Explanation / Answer

Whispering Winds Corp. Retained Earnings Statement For the Year Ending June 30, 2017 Retained Earnings, June 1 $0.00 Add: Net Income $3,780.00 $3,780.00 Less: Dividends $1,620.00 Retained Earnings, June 30 $2,160.00 Working Service Revenue $8,500.00 Less: Expenses Advertising Expense $400.00 Supplies Expenses $1,020.00 Maintenance & repairs expenses $620.00 Utility Expense $280.00 Salary & wages Expense $2,400.00 Net Income $3,780.00

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.