Solution-Prepare a retained earnings statement for the year

Prepare a retained earnings statement for the year

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Reference no: EM13547912

Retained earnings statement

Well Systems Co. offers its services to residents in the Dallas area. Selected accounts from the ledger of Well Systems Co. for the current fiscal year ended October 31, 2014, are as follows:

Retained Earnings				Dividends
Oct. 31	48,000	Nov. 1 (2013)	475,000	Jan. 31	12,000	Oct. 31	48,000
		Oct. 31	90,000	Apr. 30	12,000
				July 31	12,000
				Oct. 31	12,000

Income Summary
Oct. 31	270,000	Oct. 31	360,000
31	90,000

Prepare a retained earnings statement for the year.

Reference no: EM13547912

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Prepare a retained earnings statement for the year

Reference no: EM13547912

Reference no: EM13547912

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