Wild Animal Presentations initiated operations on July 1, 2014. To manage the company, officers and managers have requested monthly financial statements starting July 31, 2014. The adjusted trial balance amounts at July 31 are shown below. (a) Determine the net income for the month of July.
(b) Determine the total assets and total liabilities at July 31, 2014 for Wild Animal Presentations.
(c) Determine the amount that appears for Retained earnings at July 31, 2014.

Question

Wild Animal Presentations initiated operations on July 1, 2014. To manage the company, officers and managers have requested monthly financial statements starting July 31, 2014. The adjusted trial balance amounts at July 31 are shown below.  (a) Determine the net income for the month of July.
(b) Determine the total assets and total liabilities at July 31, 2014 for Wild Animal Presentations.
(c) Determine the amount that appears for Retained earnings at July 31, 2014.

Quizplus · Accepted Answer

The Answer of Wild Animal Presentations initiated operations on July 1, 2014. To manage the company, officers and managers have requested monthly financial statements starting July 31, 2014. The adjusted trial balance amounts at July 31 are shown below.  (a) Determine the net income for the month of July.
(b) Determine the total assets and total liabilities at July 31, 2014 for Wild Animal Presentations.
(c) Determine the amount that appears for Retained earnings at July 31, 2014.

Wild Animal Presentations Initiated Operations on July 1, 2014