Question

Presented here are the accounts of Dag Gone It Daycare for the year ended December 31, 2018 Requirements E (Clek the icen to view the accounts) Prepare Dog Gone it Daycare's income statement 1. 2. Prepara the balance sheet. Prepare the statement of retained eamings Requirement 1. Prepare Dog Gone H Daycare's income statement Data Table Dog Gone Daycare Income Statement Year Ended December 31, 2018 Common Stock Land 12.000 25,000 Notes Payable Accounts Payatle 30.000 16.000 Accounts Recelvatle Property Tax Expense 3.100 1500 Advertising Expense Dividends 33.000 15.000 Rent Expense Salares Expense Salaries Payabie Service Revenue Office Supplies Retained Eamings, De. 31 2017 120.800 11,000 Bulding 65,000 Cash 4.000 1,100 Equipment 15,000 185,000 Insurance Expense 2400 16,000 Interest Expense 7300 49.000 Net Income Print Done Requirement 2. Prepare the statemeont of retained eamings Choose from any Ist or enter any number in the input fields and then continue to the next question

Answer 1

185000 Dog Gone it Daycare Income statement December 31, 2018 Revenues service Revenue Expenses: Rent Expense 11000 Salaries expense 65000 Advertising Expense 15000 Insurance Expense 2400 Interest Expense 7300 Propert Tax expenses 3100 Total Expenses Net Income 103800 81200 Dog Gone it Daycare statement of retained earnings December 31, 2018 Retained earnings Dec 31, 2017 Add: Net Income Subtotal Less: Dividend Retained earnings Dec 31, 2018 49000 812001 130200 33000 97200

Assets Cash Accounts receivable Office supplies Dog Gone it Daycare Balancesheet December 31, 2018 liabilities 4000 Accounts payable 1500 Salaries payable 16000 Notes payable 12000 Total liabilities 120800 Shareholders equity 15000 Common stock Retained earnings Total stockholders Equity 169300 Total liabilities and Stockholders' equity 16000 1100 30000 47100 Land Building Equipment 25000 97200 1222001 169300 Total assets