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Detailed statement showing net income, dividends, and increase in retained earnings for Chickadee Travel Service in 2012.
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Example Exercise 1-5 Retained Earnings Statement
Example Exercise 1-5 Retained Earnings Statement
5 Example Exercise 1-5 CHICKADEE TRAVEL SERVICE Retained Earnings Statement For the Year Ended April 30, 2012
5 Example Exercise 1-5 CHICKADEE TRAVEL SERVICE Retained Earnings Statement For the Year Ended April 30, 2012 Retained earnings, May 1, 2011 $30,000
5 Example Exercise 1-5 CHICKADEE TRAVEL SERVICE Retained Earnings Statement For the Year Ended April 30, 2012 Retained earnings, May 1, 2011 $30,000 Retained earnings, May 1, 2011 $30,000 Net income for the year $55,550
5 Example Exercise 1-5 CHICKADEE TRAVEL SERVICE Retained Earnings Statement For the Year Ended April 30, 2012 Retained earnings, May 1, 2011 $30,000 Net income for the year $55,550 Less dividends 30,000
5 Example Exercise 1-5 CHICKADEE TRAVEL SERVICE Retained Earnings Statement For the Year Ended April 30, 2012 Retained earnings, May 1, 2011 $30,000 Net income for the year $55,550 Less dividends 30,000 Increase in retained earnings 25,550
Example Exercise 1-5 CHICKADEE TRAVEL SERVICE Retained Earnings Statement For the Year Ended April 30, 2012 Retained earnings, May 1, 2011 $30,000 Net income for the year $55,550 Less dividends 30,000 Increase in retained earnings 25,550 Retained earnings, April 30, 2012 $55,550
Example Exercise 1-5 For Practice: PE 1-5A, PE 1-5B