Business, 11.02.2020 19:23 lalandaid

The income statement for the Windsor, Inc. for the month ended July 31 shows Service Revenue $16,870, Salaries and Wages Expense $8,870, Maintenance and Repairs Expense $3,800, and Income Tax Expense $1,210. The statement of retained earnings shows an opening balance for Retained Earnings of $22,600 and Dividends $1,700.
Date Account Titles and Explanation Debit Credit
July 31 Service Revenue 16,870
Income Summary 16,870
(To close revenue account)
July 31 Income Summary 12,780
Maintenance and Repairs
Expense 12920
Income Tax Expense 1240
Salaries and Wages Expense 8620
(To close expense accounts)
July 31 Income Summary 6740
Retained Earnings 6740
(To close net income/
(loss) to retained earnings)
July 31 Retained Earnings 1600
Dividends 1600
(To close dividends to retained earnings)
What is the ending balance in Retained Earnings?

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 01:30

Can you post a video on of the question that you need on

Answers: 2

Answer

Business, 22.06.2019 13:30

Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.

Answers: 1

Answer

Business, 22.06.2019 14:00

Which of the following would be an accurate statement about achieving a balanced budget

Answers: 1

Answer

Business, 22.06.2019 21:20

Rediger inc., a manufacturing corporation, has provided the following data for the month of june. the balance in the work in process inventory account was $28,000 at the beginning of the month and $20,000 at the end of the month. during the month, the corporation incurred direct materials cost of $56,200 and direct labor cost of $29,800. the actual manufacturing overhead cost incurred was $53,600. the manufacturing overhead cost applied to work in process was $52,200. the cost of goods manufactured for june was:

Answers: 2

Answer

You know the right answer?

The income statement for the Windsor, Inc. for the month ended July 31 shows Service Revenue $16,870...

Questions