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Unformatted text preview: Month Ended February 28, 200X Retained Earnings, February 1, 200X $ -0- Add: Net Income for the month 3,850 Less: Dividends (3,200 ) Retained Earnings, February 28, 200X $650 OVERNIGHT AUTO SERVICE Balance Sheet February 28, 200X 3 ASSETS LIABILITIES Cash $13,120 Accounts payable 10,470 Accounts receivable 6,600 Note payable 30,000 Shop supplies 1,400 Total liabilities 40,470 Land 52,000 Building 36,000 STOCKHOLDERS EQUITY Tools and Equipment 12,000 Capital Stock 80,000 Retained Earnings 650 Total liabilities and Total assets $121,120 owners equity $121,120...
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This note was uploaded on 03/16/2012 for the course FENS 101 taught by Professor Selçukerdem during the Fall '12 term at Sabancı University.
- Fall '12