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From the Information Given,prepare a November Statement of Retained Earnings

Question 235

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From the information given,prepare a November statement of retained earnings.
On November 1 of the current year,Lois Bell began Lois Bell,Interior Design as a corporation with an initial investment of $50,000 cash.On November 30 her records showed the following (alphabetically arranged)selected accounts and amounts:
 Accounts Payable $12,000 Office Furnishings $40,000 Accounts Receivable 23,000 Dividends 6,000 Cash 17,200 Rent Expense 3,600 Fees Earned 30,000 Salaries Expense 6,200 Notes Payable 4,250 Telephone Expense 250\begin{array}{|l|r|l|r|}\hline \text { Accounts Payable } & \$ 12,000 & \text { Office Furnishings } & \$ 40,000 \\\hline \text { Accounts Receivable } & 23,000 & \text { Dividends } & 6,000 \\\hline \text { Cash } & 17,200 & \text { Rent Expense } & 3,600 \\\hline \text { Fees Earned } & 30,000 & \text { Salaries Expense } & 6,200 \\\hline \text { Notes Payable } & 4,250 & \text { Telephone Expense } & 250 \\\hline\end{array}

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