The income statement of Hall Marine Repairs is as follows: On April 1, the retained earnings account had a balance of ₤12,900. During April, the company paid ₤3,000 in dividends.
Instructions
(a) Prepare closing entries at April 30.
(b) Prepare a retained earnings statement for the month of April.

Question

The income statement of Hall Marine Repairs is as follows:  On April 1, the retained earnings account had a balance of ₤12,900. During April, the company paid ₤3,000 in dividends.
Instructions
(a) Prepare closing entries at April 30.
(b) Prepare a retained earnings statement for the month of April.

Quizplus · Accepted Answer

The Answer of The income statement of Hall Marine Repairs is as follows:  On April 1, the retained earnings account had a balance of ₤12,900. During April, the company paid ₤3,000 in dividends.
Instructions
(a) Prepare closing entries at April 30.
(b) Prepare a retained earnings statement for the month of April.

The Income Statement of Hall Marine Repairs Is as Follows