Question

Presented here are the accounts of Dog Gone It Daycare for the year ended December 31, 2018. (Click the icon to view the accounts.) Requirements 1. Prepare Dog Gone It Daycare's income statement. 2. Prepare the statement of retained earnings. 3. Prepare the balance sheet. Requirement 1. Prepare Dog Gone It Daycare's income statement. (Check your spelling carefully and do not abbreviate. When applicable, use only the account names pro problem statement.) Dog Gone It Daycare Statement of Retained Earnings December 31, 2018 Net Income

Answer 1

240000 Dog Gone it Daycare Income statement December 31, 2018 Revenues service Revenue Expenses: Rent Expense Salaries expense Advertising Expense Insurance Expense Interest Expense Propert Tax expenses Total Expenses Net Income 9000 61000 20000 2500 7100 3300 102900 137100 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 54000 137100 191100 32000 159100

Assets Cash Accounts receivable Office supplies Land Building Equipment Dog Gone it Daycare Balancesheet December 31, 2018 liabilities 2000 Accounts payable 1600 Salaries payable 17000 Notes payable 14000 Total liabilities 174700 Shareholders equity 14000 Common stock Retained earnings Total stockholders Equity 223300 Total liabilities and Stockholders' equity 10000 1200 28000 39200 25000 159100 184100 223300 Total assets