Question : 190. Prepare an income statement and a retained earnings statement for : 1239738

 

190. Prepare an income statement and a retained earnings statement for the month ended September 30, 2011, from the T accounts below of Carson Company. 

Prepaid Insurance

 

Accounts Receivable

 

Unearned Revenues

 

Wages Payable

1,400

 

 

1,600

 

 

 

1,200

 

 

225

 

80

 

   500

 

 

350

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retained Earnings

 

Dividends

 

Income Summary

 

Fees Earned

 

6,800

 

2,400

 

 

 

4,150

 

 

3,300

    610

 

 

 

2400

 

4,760

 

 

 

   500

2,400

 

 

 

 

 

 

   610

 

 

   350

 

 

 

 

 

 

 

 

 

4,150

 

 

 

 

 

 

 

 

 

 

 

 

 

Wages Expense

 

Rent Expense

 

Insurance Expense

 

Utilities Expense

3,200

 

 

1,130

 

 

80

 

 

125

 

   225

 

 

 

1,130

 

 

80

 

 

125

 

3,425

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

191. Selected ledger accounts appear below for Fulton Surveying Services for 2014. 

Retained Earnings

 

Dividends

12/31

25,000

1/1

20,000

 

3/31

12,000

12/31

25,000

 

 

12/31

48,000

 

12/22

13,000

 

 

 

 

 

 

 

 

 

 

 

 

Income Summary

12/31

19,000

12/31

67,000

12/31

48,000

 

 

 

 

 

 

Prepare a retained earnings statement. 

 

 

 

 

 

192. On the basis of the following data taken from the Adjusted Trial Balance columns of the work sheet for the year ended March 31 for Boles Athletic Company, journalize the four closing entries. 

Cash

$  30,000

 

Accounts Receivable

45,200

 

Supplies

5,000

 

Equipment

169,900

 

Accumulated Depreciation

 

$  32,000

Accounts Payable

 

12,500

Capital Stock

 

20,000

Retained Earnings

 

51,600

Dividends

47,000

 

Fees Earned

 

510,000

Salary Expense

244,500

 

Rent Expense

48,000

 

Depreciation Expense

25,000

 

Supplies Expense

9,500

 

Miscellaneous Expense

      2,000

              

 

$626,100

$626,100

 

 

 

 

 

 

 

 

 

 

 

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