This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: Retained earnings, July 1, 2007 $42,000 Net income for the year $130,000 Less dividends 50,000 Increase in retained earnings 80,000 Retained earnings, June 30, 2008 $122,000 3. ABYSS TRAVEL SERVICE Balance Sheet June 30, 2008 Assets Liabilities Cash $99,500 Accounts payable Accounts receivable 48,750 Stockholders' Equity Supplies 4,250 Capital stock Retained earnings Total stockholders' equity Total assets $152,500 Total liabilities and stockholders' equity...
View Full Document
This note was uploaded on 03/18/2008 for the course ACCTG 211 taught by Professor Johnston during the Spring '99 term at Penn State.
- Spring '99
- Income Statement