This information relates to Nash\'s Trading Post, LLC for the year 2017. Retaine

Question

This information relates to Nash's Trading Post, LLC for the year 2017.
Retained earnings, January 1, 2017 $68,340 Advertising expense 1,836 Dividends 6,120 Rent expense 10,608 Service revenue 59,160 Utilities expense 2,448 Salaries and wages expense 30,600 This information relates to Nash's Trading Post, LLC for the year 2017.
Retained earnings, January 1, 2017 $68,340 Advertising expense 1,836 Dividends 6,120 Rent expense 10,608 Service revenue 59,160 Utilities expense 2,448 Salaries and wages expense 30,600 SHOW LIST OF ACCOUNTS SHOW LIST OF ACCOUNTS SHOW LIST OF ACCOUNTS

Exercise 1-4

This information relates to Nash's Trading Post, LLC for the year 2017.
Retained earnings, January 1, 2017 $68,340 Advertising expense 1,836 Dividends 6,120 Rent expense 10,608 Service revenue 59,160 Utilities expense 2,448 Salaries and wages expense 30,600

Explanation / Answer

Prepare income statement :

Prepare retained earnings statement :

REVENUE Service revenue 59160 EXPENSES Utilities expenses (2448) Advertising expenses (1836) Salaries and wages expenses (30600) Rent expenses (10608) Total expenses (45492) Net Income 13668

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