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Question 7 View Policies Show Attempt History Current Attempt in Progress Vaughn Manufacturing is a private camping ground ne
Vaughn Manufacturing Retained Earnings Statement For the Year Ended December 31, 2017 4 Retained Earnings, January 1 6400 Add
December 31, 2017 Assets Cash 10880 supplies 7040 equipment 145920 Total Assets 163840 Liabilities and Stockholders Equity L
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Answer #1
Vaughn Manufacturing
Retained Earnings statement
for the year ended December 31, 2017
Retained Earnings, january 1 $6,400
add                        : service revenue $168,960
: sales revenue 32000
                                :expenses -161280 39680
46080
less: dividend -11520
Retained Earnings,Decembler 31 34560
31-Dec-17
assets $
Cash $10,880
supplies 7040
Equipment 145920
Total assets 163840
Liabilities and stockholders' equity
liabilities  
note payable $64,000
account payable 14080
total liabilities 78080
Stockholders' equity
common stock $51,200
Retained earning 34560
total stockholders equity 85760
total liabilities and stockholders' equity 163840
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