Question

i need retained earnings

if you could show how to do it

Equipment 60,000 Interest Expense 2,500 Interest Payable 650 Retained Earnings ? Dividends 64,230 Land 136,000 Accounts Receivable 102,000 Bonds Payable 78,000 Notes Payable (due in 6 months) 28,000 75,000 Common Stock Accumulated Depreciation - Equipment 10,000 5,200 Prepaid Advertising 350,000 Service Revenue 83,000 Buildings 1,700 Supplies 3,000 Income Taxes Payable 1,200 Utilities Expense 1,700 Advertising Expense 51,000 Salaries and Wages Expense 880 Salaries and Wages Payable 15,500 Accumulated Depr. - Building 45,000 Cash 7,500 Depreciation Expense

Answer 1

	FOR RETAINED EARNING WE HAVE TO PREPARE THE TRIAL BALANCE
	IN TRIAL BALANCE TOTAL OF DEBIT WILL BE EQUAL OF TOTAL CREDIT
		DEBIT	CREDIT
	Equipment	$                      60,000
	Interest Expenses	$                        2,500
	Interest Payable		$                 650
	Dividends	$                      64,230
	Land	$                  1,36,000
	Account Receivable	$                  1,02,000
	Bonds Payable		$           78,000
	Notes Payable		$           28,000
	Common stock		$           75,000
	Accumulated Depreciation - Equipment		$           10,000
	PREpaid adverrtising	$                        5,200
	Service REVenue		$       3,50,000
	Building	$                      83,000
	Supplies	$                        1,700
	Income tax payable		$             3,000
	Utilities Expenses	$                        1,200
	Advertising Expenses	$                        1,700
	Salaries and wages expenses	$                      51,000
	Salaries and wages expenses Payable		$                 880
	Accumulated Depreciation - Building		$           15,500
	Cash	$                      45,000
	Depreciation expenses	$                        7,500
	Total	$                  5,61,030	$       5,61,030
	Total of Debit is Equla to Total of Credit it means there is no Difference
	Retained Earning = Total of Debit - Total of Credit
	Retained Earning = $ 561,030 - $ 561,030 =   $ 0
	Answer = 0 or Nil