Retained Earnings - Recording an Expense

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• Urlacher Company performs the following accounting tasks during the year

  Retained earnings, January 1, 2008 $ 48,000 Advertising expense $ 1,800 Dividends during 2008 6,000 Rent expense 10,400 Service revenue 62,500 Utilities expense 3,100 Salaries expense 30,000 Instructions After analyzing the data, prepare

• Recording Transactions and their Effects on Financial Statements

  What was the ending retained earnings balance on the balance sheet prepared by the bookkeeper? c. What is the correct ending balance in retained earnings to be reported on the balance sheet? See attached file.

• Straight Line Deprecation and Double Declining Depreciation

  Finally, the impact of switching from the Depreciation as a Expense to a Straight Line Depreciation and the adjustment to Retained Earnings.

• Understanding the Relationships between Financial Statements

  Retained Earnings.)

• Inventory loss, damaged goods, theft

  Net income does affect retained earnings, so the expense situations would indirectly affect retained earnings because the damaged goods expense and shrinkage expense would lower net income.

• How do the four financial statements work together?

  retained earnings.)

• Reichenbach Co., organized in 2009, has set up a single acco

  $160,000) 235,000 Goodwill 278,400 Intangible Assets 698,050 Franchise Amortization Expense ($48,000 ÷ 8) 6,000 Retained Earnings ($48,000 ÷ 8 X 6/12) 3,000 Franchises 9,000 Rent Expense ($24,000 ÷ 2) 12,000 Retained Earnings

• This post provides the corrected journal entries needed.

  Assume that the equipment has no salvage value and that Unger uses the straight-line method for recording depreciation. 39200 / 10 = 3920 Journal entry: Depreciation expense 3920 Retained earnings 3920 Accumulated

• Computing and Recording Units-of-Production Depreciation

  -10,000 -10,000 Acct depreciation -10,000 Retained earnings -10,000 c.