Question

Requirement 2. What is Jonah Electrical, Inc.'s Retained earnings balance at June 30, 2018? Jonah Electrical, Inc.'s Retained earning balance at June 30, 2018 is $ Data Table Common stock ..............$ Service revenue........... Unearned revenues ........... Salaries expense .......... Accumulated depreciation .... Supplies expense .......... Interest revenue ....... Interest expense ....... 23,000 Accounts receivable .......$ 102,000 Retained earnings ......... 2,100 Salaries payable .......... 16,500 Depreciation expense ...... 32,300 Rent expense ............ 2.400 Dividends ............. 300 Supplies ....... 2,700 8,000 12,600 1,200 3,900 5,100 8,000 2,300

Answer 1

Answer: Retained earnings balance at june 30, 2018 is $76,300

Johan Electrical, Inc Income statement As on June 30, 2018 102000 300 102300 Revenue: Service revenue Interest revenue Total revenue Expenses: Salaries Supplies expense Interest expense Depreciation expense Rent expense Total Expense Net Income 16500 2400 2700 3900 5100 30600 71700 12600 Johan Electrical, Inc Retained Earning statement As of June 30, 2018 Beginning Retained Earnings Add: Net Income Subtotal Less: Dividends Ending Retained Earnings 717001 84300 80001 76300