Alpha Security, Inc., began the year with $17,000 of common stock and $34,000 of

Question

Alpha Security, Inc., began the year with $17,000 of common stock and $34,000 of retained earnings. On February 5, investors bought $20,000 of additional stock in the business. On May 22, the business purchased land valued at $85,000. The income statement for the year ended December 31, 2018, reported a net loss of $3,000. During this fiscal year, the business paid $750 for dividends each month. Read the requirements Requirement 1 Prepare A pha Securit 's statement of retained earnings or the ear ended December 3 label or enter a zero.) 20 r a box s no use n he a me eave he xem do not select a Complete the statement of retained earnings Alpha Security, Inc. Statement of Retained Earnings For the Year Ended December 31, 2018 Retained earnings, December 31, 2018 Less

Explanation / Answer

Statement of Retained earnings Retained earnings, Janury 1 2018 34000 Less: Net loss 3000 Dividends paid 9000 12000 Retained earnings, December 31 2018 22000 Alternatively, net loss and dividends amount can be written with negative sign

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