Solution-Prepare a retained earnings statement

Prepare a retained earnings statement

Reference no: EM131811667

Problem - Financial Statements from the End-of-Period Spreadsheet

Pacifica Consulting is a consulting firm owned and operated by Tara Milsap. The end-of-period spreadsheet shown below was prepared for the year ended August 31, 2012.

Pacifica Consulting End-of-Period Spreadsheet For the Year Ended August 31, 2012
	Unadjusted						Adjusted
	Trial Balance		Adjustments				Trial Balance
Account Title	Dr.	Cr.		Dr.		Cr.	Dr.	Cr.

Cash	10,310						10,310
Accounts Receivable	24,550						24,550
Supplies	2,600				(a)	2,180	420
Office Equipment	20,380						20,380
Accumulated Depreciation		2,730			(b)	1,300		4,030
Accounts Payable		6,630						6,630
Salaries Payable					(c)	320		320
Capital Stock		8,300						8,300
Retained Earnings		16,740						16,740
Dividends	3,190						3,190
Fees Earned		47,250						47,250
Salary Expense	18,660		(c)	320			18,980
Supplies Expense			(a)	2,180			2,180
Depreciation Expense			(b)	1,300			1,300
Miscellaneous Expense	1,960						1,960
	81,650	81,650		3,800		3,800	83,270	83,270

Required -

Based on the preceding spreadsheet, prepare an income statement.

Based on the preceding spreadsheet, prepare a retained earnings statement.

Based on the preceding spreadsheet, prepare a balance sheet.

Reference no: EM131811667

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Prepare a retained earnings statement

Reference no: EM131811667

Reference no: EM131811667

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