Given the following facts, prepare a statement of retained earnings for Brindle Company, a tanning salon, for August 2010:
Balance in retained earnings at end of July, USD 188,000.
Dividends paid in August, USD 63,600.
Net income for August, USD 72,000.
The column totals of a summary of transactions for Speedy Printer Repair, Inc., as of 2010 December 31, were as follows:
|
Accounts payable |
$60,000 |
|
Accounts receivable |
90,000 |
|
Capital stock |
100,000 |
|
Cash |
40,000 |
|
Land |
80,000 |
|
Building |
50,000 |
|
Equipment |
30,000 |
|
Notes payable |
20,000 |
|
Retained earnings |
? |
Prepare a balance sheet. We have purposely listed the accounts out of order.