Business, 08.03.2021 19:20 kingsqueen883

At the beginning of April, Owl Corporation has a balance of $12,500 in the Retained Earnings account. During the month of April, Owl had the following external transactions. 1. Issue common stock for cash, $12,000.
2. Provide services to customers on account, $8,000.
3. Provide services to customers in exchange for cash, $2,700.
4. Purchase equipment and pay cash, $7,100.
5. Pay rent for April, $1,300.
6. Pay employee salaries for April, $3,000.
7. Pay dividends to stockholders, $1,750.

Required:
Using the external transactions above, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.)

Answers: 1

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At the beginning of April, Owl Corporation has a balance of $12,500 in the Retained Earnings account...