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ehidna [41]
3 years ago
11

Partial adjusted trial balance for Pina Colada Corp. at December 31, 2017, includes the following accounts: Retained Earnings $1

6,700, Dividends $4,700, Service Revenue $36,300, Salaries and Wages Expense $15,000, Insurance Expense S1,980, Rent Expense $4,000, Supplies Expense $1,590, and Depreciation Expense丰900. The balance in Retained Earnings is the balance as of January 1.
Prepare a retained earnings statement for the year assuming net income is $10,400. (List items that increase retained earnings first.)
Business
1 answer:
lara [203]3 years ago
4 0

Answer:

See below

Explanation:

Pina Colada Corp.

Retained earnings statement for the year

Retained earnings January 1 [$16,700 + $4,700 - $10,400] $11,000

Add: Net income $10,400

Less: Dividends $4,700

Retained earnings, December 31 $16,700

Therefore, ending retained earnings is $16,700

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