As I see, everything is correct except for ending retained earnings calculation.
Ending retained earnings = Beginning retained earnings + Net income(loss)
Retained earnings statement for the year ended December 31, 2017
Retained earnings, November 1 | 3460 |
Add : Net income (loss) -as per income statement | 840 |
Retained earnings, November 30 | 4300 |
Accounting Cycle Review Problem 0-14A On November 1, 2017, the following were the account balances of...
Accounting Cycle Review Problem 0-14A On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts Receivable Debit $ 3,250 3,080 1,580 10,460 Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $ 500 2,760 400 790 10,460 3,460 $18,370 $18,370 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 Paid $1,220 for salaries due employees, of which $430 is for...
Accounting Cycle Review Problem 0-14A On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $ 3,250 3,080 1,580 10,460 Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $ 500 2,760 400 790 10,460 3,460 $18,370 $18,370 During November, the following summary transactions were completed. Nov. 8 Paid $1,220 for salaries due employees, of which $430 is for November and $790...
Accounting Cycle Review Problem 0-14A On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $ 3,250 3,080 1,580 10,460 Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $ 500 2,760 400 790 10,460 3,460 $18,370 $18,370 During November, the following summary transactions were completed. Nov. 8 Paid $1,220 for salaries due employees, of which $430 is for November and $790...
Accounting Cycle Review Problem 0-14A On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $ 3,250 3,080 1,580 10,460 Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $ 500 2,760 400 790 10,460 3,460 $18,370 $18,370 During November, the following summary transactions were completed. Nov. 8 Paid $1,220 for salaries due employees, of which $430 is for November and $790...
On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $ 3,250 3,080 1,580 10,460 Credit $ 500 2,760 400 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings 790 10,460 3,460 $18,370 $18,370 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 Paid $1,220 for salaries due employees, of which $430 is for November and $790 is for...
On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $ 3,250 3,080 1,580 10,460 Credit $ 500 2,760 400 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings 790 10,460 3,460 $18,370 $18,370 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 Paid $1,220 for salaries due employees, of which $430 is for November and $790 is for...
Problem 4-7A (Part Level Submission) On November 1, 2017, the following were the account balances of Soho Equipment Repair. Debit Credit 500 Cash 3,400 Accumulated Depreciation-Equipment Accounts Receivable Accounts Payable 3,070 2,910 Unearned Service Revenue Supplies 1,730 400 Equipment Salaries and Wages Payable 10,610 780 Common Stock 10,610 Retained Earnings 3,610 $18,810 $18,810 During November, the following summary transactions were completed Paid $1,220 for salaries due employees, of which $440 is for November and $780 is for October salaries payable....
Question 1 On November 1, 2017, the following were the account balances of Soho Equipment Repair Cash Accounts Receivable Supplies Equipment Debit $ 3,540 3,120 1,870 10,750 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $ 500 3,050 400 830 10,750 3,750 $19,280 $19,280 During November, the following summary transactions were completed. Nov. 8 Paid $1,220 for salaries due employees, of which $390 is for November and $830 is for October salaries...
On November 1, 2017, the following were the account balances of Soho Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $ 3,250 3,080 1,580 10,460 Credit $ 500 2,760 400 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings 790 10,460 3,460 $18,370 $18,370 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 Paid $1,220 for salaries due employees, of which $430 is for November and $790 is for...
On November 1, 2017, the following were the account balances of Soho Equipment Repair Debit Credit Cash Accounts Receivable Supplies Equipment s 3,250 Accumulated Depreciation-Equipment $500 2,760 400 840 10,460 3,460 $18,420 3,130 Accounts Payable 1,530 Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings 10,460 $18,420 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 20 22 25 27 29 Paid $1,220 for salaries due employees, of which $380 is for November...