fill the charts need retained earnings chart signment Problem 8-9A The adjusted

Question

fill the charts need retained earnings chart

signment Problem 8-9A The adjusted trial balance of Cullumber Company for the year ended December 31, 2019, is as follows: Debit Credit Cash $7,000 3,300 7,200 10,200 8,000 Accounts Receivable Notes Receivable Inventory Equipment Allowance for Doubtful Accounts $500 1,100 1,100 800 17,400 10,500 py Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenue Interest Revenue Cost of Goods Sold Salary and Wages Expense 1,000 15,540 100 7,600 1,700 900 90 50 Rent Expense Bad Debt Expense Service Charge Expense $47,040 $47,040 All Rights Reserved. A Division of lohn Wilex & Sons Inc.

Explanation / Answer

Cullumber Company Income Statement For the year ended December 31, 2019 Sales revenue $ 15,540 Cost of goods sold $    7,600 Gross profit $    7,940 Operating expense Salaries and wages expenses $ 1,700 Rent expense $     900 Baddebt expense $        90 Service charge expense $        50 Total operating expense $    2,740 Income from operations $    5,200 Non operating income and (expenses) Interest revenue $        100 Net income $    5,300 Cullumber Company Retained earnings statement As at December 31, 2019 Retained earnings - 01 January 2019 $ 10,500 Add: Net income $    5,300 $ 15,800 Less: Dividends $    1,000 Retained earnings - 31 December 2019 $ 14,800

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