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Assume that Sallisaw Sideboards, Inc. had a retained earnings balance of $10,000 on April 1, and that the company had the following transactions during April. Issued common stock for cash, $5,000. Provided services to customers on account, $2,000. Provided services to customers in exchange for cash, $900. Purchased equipment and paid cash, $4,300. Paid April rent, $800. Paid employees' salaries for April, $700. What was Sallisaw's retained earnings balance at the end of April

Sagot :

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Answer:

$11,400

Explanation:

Calculation to determine What was Sallisaw's retained earnings balance at the end of April

First step is to calculate the Net income for the month of April

April Net income=$2,000+$900-$800-$700

April Net income=$1,400

Now let calculate the Retained earnings at the end of April

April Retained earnings=$10,000+$1,400=$11,400

April Retained earnings= $11,400

Therefore What was Sallisaw's retained earnings balance at the end of April is $11,400

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