edugenwileypluscom Course Principles of Accounting What Happ

edugen.wileyplus.com Course: Principles of Accounting What Happens if Prepaid Exp.. WileyPLUs Chegg Study Guided Solution A tabular summary of transacti.. How to take a screenshot on y... WileyPLUS: MyWileyPLUS | Help| Contact Us | Log Out WileyPLUS Kimmel, Survey of Accounting, 1e PRINCIPLES OF ACCOUNTING (ACC 201) Home Read, Study & Practice Assignment Gradebook ORION Downloadable eTextbook Assignment>Open Assignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Brief Exercise 4-11 Chapter 4 HW Brief Exercise 4-3 Brief Exercise 4-4 Partial adjusted account balance data for Levin Corporation at December 31, 2017, includes the following accounts: Retained Earnings $17,200, Dividends $6,000, Service Revenue $32,000, Salaries and Wages Expense $14,000, Insurance Expense $1,800, Rent Expense $3,900, Supplies Expense $1,500, and Depreciation Expense $1,000. The balance in Retained Earnings is the balance as of January1 Brief Exercise 4-9 Brief Exercise 4-10 lef Exercise 4 a Brief Exercise 4-12 Prepare a retained earnings statement for the year assuming net income is $10,400. (List items that increase retained earnings first.) LEVIN CORPORATION Retained Earnings Statement Exercise 4-9 ercise 4-1 Review Score Revicw Results by Study Click if you would like to Show Work for this question: Wor SHOW LIST OF ACCOUNTS By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. License AgreementPrivacy Policy2000-2018 John Wiley & Sons, Inc. All Rights Reserved. A Division ofJohn Wiley & Sons, Inc. Version 4.24.6.2

Solution

Accounting Equation Assets = Liabilities + Stock holders\' Equity Date Supplies + Prepaid Insurance + Equipment - Accum Dep. Equip. Int Pay + Notes Pay + Un Earned Rent Rev. + Common Stock + Retained Earnings Balance $3,000 $3,600 $25,000 $8,400 $0 $20,000 $12,400 Rev - Exp - Div 31-Mar $840 -$6,200 $6,200 $840 $400 $400 $2,150 $2,150 -$1,200 $1,200 $5,150 $2,400 $25,000 $9,240 $400 $20,000 $6,200 $0 $6,200 $4,590 $0