Calculate the ending retained earnings

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Question - The following information is taken from the accounts of Bridge Ltd at 30 June 2019 (items are listed in 'random' order). All accounts have their 'usual' debit or credit balance (i.e. no account is 'negative')

Supplies (unused) $500

Revenues $15,000

Operating expenses $10,000

Cash $16,000

Accounts payable $11,000

Dividends paid $8,000

Accounts receivable $4,000

Accrued expenses payable $2,000

Share capital $10,000

Equipment $3,500

Retained earnings (beginning) $4,000

Required - Use the above information to calculate:

(a) Profit; and

(b) Ending retained earnings.

Reference no: EM132569391

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