financial retained earning statement
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Dominick Lopez operates a consulting firm called Tech Today. On August 31, the companys records show the following accounts and amounts for the month of August. Use this information prepare an August statement of retained earnings for Tech Today. (The owner invested $84,000 cash in the company in exchange for common stock during the first week of August.) |
Cash$8,360 Dividends$3,000 Accounts receivable17,000 Consulting fees earned17,000 Office supplies3,250 Rent expense4,550 Land46,000 Salaries expense8,000 Office equipment18,000 Telephone expense560 Accounts payable8,000 Miscellaneous expenses280 Common Stock4,000 Owner investments in company84,000
| TECH TODAY Statement of Retained Earnings For Month Ended August 31 |
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| (Click to select) Retained earnings, August 1 Less: Cash dividends Add: Owner investments Retained earnings, August 31 Add: Cash dividends | $ | ||
| (Click to select) Add: Net income Less: Net income | |||
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| (Click to select) Retained earnings, July 31 Add: Owner investments Retained earnings, August 31 Less: Cash dividends Add: Cash dividends | |||
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| (Click to select) Add: Cash dividends Less: Cash dividends Retained earnings, July 31 Add: Owner investments Retained earnings, August 31 | $ | ||
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