Dominick Lopez operates a consulting firm called Tech Today. On August 31, the company’s records show the following accounts and amounts for the month of August. Use this information prepare an August statement of retained earnings for Tech Today. (The owner invested $84,000 cash in the company in exchange for common stock during the first week of August.)


Cash $ 8,360 Dividends $ 3,000
Accounts receivable 17,000 Consulting fees earned 17,000
Office supplies 3,250 Rent expense 4,550
Land 46,000 Salaries expense 8,000
Office equipment 18,000 Telephone expense 560
Accounts payable 8,000 Miscellaneous expenses 280
Common Stock 84,000

So what is your answer

Prepare trial balance. Debits will exceed credits and that must be retained earnings