At the beginning of April, Chickadee Corporation has a balance of $11,500 in the Retained Earnings account. During the month of April, Chickadee had the following external transactions. Required:Using the external transactions below, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.) TransactionBalanceRetained earnings, April 1$11,5001. Issue common stock for cash, $10,000.2. Provide services to customers on account, $7,000.3. Provide services to customers in exchange for cash, $1,700.4. Purchase equipment and pay cash, $6,100.5. Pay rent for April, $1,200.6. Pay employee salaries for April, $2,000.7. Pay dividends to stockholders, $1,250.Retained earnings, April 30

Using the external transactions above, computation of the balance of retained earnings at April 30:…

At the beginning of April, Chickadee Corporation has a balance of $11,500 in the Retained Earnings account. During the month of April, Chickadee had the following external transactions. Required: Using the external transactions below, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.)

At the beginning of April, Chickadee Corporation has a balance of $11,500 in the Retained Earnings account. During the month of April, Chickadee had the following external transactions. Required: Using the external transactions below, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 2PB: To demonstrate the difference between cash account activity and accrual basis profits (net income),...

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