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Unformatted text preview: - - - - - Totals- - - - - - - - - net income- - - e Sheet CR- - - - - - - - - - - - balance sheet statement of retained earnings ASSETS cash- retained earnings 1/1/07- accounts receivable- add: net income- allow for bad debts- - - interest receivable- less: dividends- inventory- retained earnings 12/31/07- Total Current Assets- investment in bonds- closing entries Total L-T Investments- PP&E sales- building- interest revenue- accum dep- - cogs- truck- operating exp- accum dep- - dep exp - bldg- Total PP&E- dep exp - truck- TOTAL ASSETS- wage exp- bad debt expense- LIABILITIES & STOCKHOLDERS' EQUITY income tax exp- accounts payable- close to income summary- wages payable- income tax payable- income summary- Total Current Liabilities- retained earnings- notes payable- Total L-T Liabilities- TOTAL LIABILITIES- common stock $1 par- retained earnings- Total Stockholders' Equity- TOTAL LIABILITIES & EQUITY- -...
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This note was uploaded on 08/01/2009 for the course ACCT 32597 taught by Professor Spurrier during the Summer '09 term at Oklahoma State.
- Summer '09