financial retained earning statement
Dominick Lopez operates a consulting firm called Tech Today. On August 31 the companys records show the following accounts and amounts for
the month of August. Use this information prepare an August statement of retained earnings for Tech Today. (The owner invested $84000 cash in
the company in exchange for common stock during the first week of August.)
Cash$8360 Dividends$3000 Accounts receivable17000 Consulting fees earned17000 Office supplies3250 Rent expense4550 Land46000 Salaries expense8000
Office equipment18000 Telephone expense560 Accounts payable8000 Miscellaneous expenses280 Common Stock4000 Owner investments in company84000
(Click to select) Retained earnings August 1 Less: Cash dividends Add: Owner investments Retained earnings August 31 Add: Cash dividends (Click to select) Add: Net income Less: Net income (Click to select) Retained earnings July 31 Add: Owner investments Retained earnings August 31 Less: Cash dividends Add: Cash dividends (Click to select) Add: Cash dividends Less: Cash dividends Retained earnings July 31 Add: Owner investments Retained earnings August 31
