After analyzing the data prepare a retained earnings

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After analyzing the data, prepare a retained earnings statement for the year ending December 31, 920,000 393,000 Novak Corp. Income Statement $ For the Year Ended December 31, 2017 Revenues Service Revenue $ $ 85,840 Expenses Salaries and Wag 44,400 Rent Expense 15,392 Utilities Expense 3,552 Advertising Expen 2,664 Total Expenses 66,008 Net Income / (Loss) 19,832
2017. (List items that increase retained earnings first.) Exercise 1-3 The Bonita Vista Golf & Country Club details the following accounts in its financial statements. Classify each of the following accounts as an asset, liability, stockholders’ equity, revenue, or expense item. Accounts payable Accounts receivable Equipment Sales revenue Service revenue Inventory Mortgage payable Supplies expense Rent expense Salaries and wages expense Practice Exercise 1 This information relates to Kingbird, Inc. for the year 2017. Retained earnings, January 1, 2017 Advertising expense Dividends Rent expense Service revenue Utilities expense Salaries and wages expense After analyzing the data, prepare an income statement for the year ending December 31, 2017. Novak Corp. Retained Earnings Statement $ : : $ For the Year Ended December 31, 2017 Retained Earnings, J anuary 1 99,160 Add Net Income / (Loss) 19,832 118,992 Less Dividends 8,880 Retained Earnings, December 31 110,112 Liability Asset Asset Revenue Revenue Asset Liability Expense Kingbird, Inc. Income Statement $ $ $ For the Year Ended December 31, 2017 Revenues Service Revenue 81,200 Expenses Salaries and Wag 42,000 Rent Expense 14,560 Utilities Expense 3,360 Advertising Expen 2,520 Total Expenses 62,440 Net Income / (Loss) 18,760
SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT Your answer is correct. After analyzing the data, prepare a retained earnings statement for the year ending December 31, 2017. (List items that increase retained earnings first.) Click if you would like to Show Work for this question: Kingbird, Inc. Retained Earnings Statement $ : : $ For the Year Ended December 31, 2017 Retained Earnings, J anuary 1 93,800 Add Net Income / (Loss) 18,760 112,560 Less Dividends 8,400 Retained Earnings, December 31 104,160

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