Question - Prepare a retained earnings statement for the year 2001
Supplies exp $15,600
Salaries and wages payable $2080
Salaries and wages expense $57500
Equipment 18,500
AP 1100
Service revenue 66,100
Rent Revenue 8500
Notes payable due in 2002- 1800
Common stock 16,000
Cash 29,200
AR 9780
Accumulated depreciation-equipment $6000
Divideds 4000
Depreciation expense4000
Retained earnings beginning of the year 34,000