Respuesta :
Answer:
A.Retained earnings June 30 $8,200
B.Income statement June 30$7,800
C.The statement of retained earnings will report Changes that occured in the retained earnings for a business entity during a period of time.
Explanation:
A. Preparation of statement of retained earnings
Retained earnings
for the month ending June 30, 2018.
Retained Earning June 1 $3,400
Add Net income for the month $7,800
=$11,200
Less Dividend $3,000
Retained earnings June 30 $8,200
Therefore the Retained earnings for June 30 will be $8,200
2.Preparation of Income statement
Income statement
for the month ending June 30, 2018.
Revenue:
Service Revenue $10,800
Less :Expenses
Salary expenses ($2,200)
Rent expenses ($800)
Net income $7,800
($10,800-$3,000)
Therefore Winniford Towing Service Income statementfor the month ending June 30, 2018 Net income will be $7,800.
C. Based on the above calculation the statement of retained earnings will report
Changes that occured in the retained earnings for a business entity during a period of time.
The balance account
A balance account is one that shows the balance amount of the bookkeeping records. It the sum of balance of debt entries into the account at the time of financial year. The account balance and income statement of Winniford services at june 30 2018.
Thus shows us the answer retained earnings of june 30 are $8, 200. The income statements June 30 $7, 800 and retained earnings in point of time.
- The account balances of the income statements for the months of june are given. As per the question the statement for the retained earnings of the winniford Towings services of june 30 2018 end are $8,200 while the Income statement is $7,800.
- The statement for the retained earnings will report Changes that occured in the retained earnings for a business entity during a period of time.
Learn more about the account balances.
brainly.com/question/17350392.
