Exercise 4-17 Before Adjustment After Adjustment 0 1,200 $72,800 $72,800 $75,700 $75,700 Warning Don\'t show me this message again for the assignment Ok Cancel BERE COMPANY Income Statement For the Year Ended August 31, 2014 Warning Don\'t show me this message again for the assignment Ok Cancel Link to Text BERE COMPANY Retained Earnings Statement For the Year Ended August 31, 2014 Warning Don\'t show me this message again for the assignment Ok Cancel Link to Text BERE COMPANY Balance Sheet August 31, 2014 Assets Liabilities and Stockholders\' Equity Warning Don\'t show me this message again for the assignment Ok Cancel Link to Text Save for later Submit Answer Exercise 4-17 The adjusted trial balance for Bere Company is given below: BERE COMPANY Trial Balance August 31, 2014 Before Adjustment After AdjustmentDr.Cr.Dr.Cr.Cash$10,900$10,900Accounts Receivable8,8009,400Supplies2,500500Prepaid Insurance4,0002,500Equipment16,00016,000Accumulated Depreciation—Equipment$3,600$4,800Accounts Payable5,8005,800Salaries and Wages Payable01,100Unearned Rent Revenue1,800800Common Stock10,00010,000Retained Earnings5,5005,500Dividends2,8002,800Service Revenue34,00034,600Rent Revenue12,10013,100Salaries and Wages Expense17,00018,100Supplies Expense02,000Rent Expense10,80010,800Insurance Expense01,500Depreciation Expense 0 1,200 $72,800 $72,800 $75,700 $75,700 Warning Don\'t show me this message again for the assignment Ok CancelPrepare the income statement for the year ended August 31. BERE COMPANY Income Statement For the Year Ended August 31, 2014 ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings, September 1, 2013Retained Earnings, August 31, 2014Dividends $ Expenses Revenues Total Expenses Total Revenues Net Income / (Loss) Retained Earnings, September 1, 2013 Retained Earnings, August 31, 2014 Dividends $ ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings, September 1, 2013Retained Earnings, August 31, 2014Dividends $ Expenses Revenues Total Expenses Total Revenues Net Income / (Loss) Retained Earnings, September 1, 2013 Retained Earnings, August 31, 2014 Dividends ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings, September 1, 2013Retained Earnings, August 31, 2014Dividends $ Warning Don\'t show me this message again for the assignment Ok Cancel Link to TextPrepare the retained earnings statements for the year ended August 31. (List items that increase retained earnings first.) BERE COMPANY Retained Earnings Statement For the Year Ended August 31, 2014 ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings, September 1, 2013Retained Earnings, August 31, 2014Dividends $ AddLess: ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings, September 1, 2013Retained Earnings, August 31, 2014Dividends AddLess: ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings, September 1, 2013Retained Ear.

1. Exercise 4-17
Before
Adjustment
After
Adjustment
0
1,200
$72,800
$72,800
$75,700
$75,700
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BERE COMPANY
Income Statement
For the Year Ended August 31, 2014
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BERE COMPANY
Retained Earnings Statement
For the Year Ended August 31, 2014
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BERE COMPANY
Balance Sheet
August 31, 2014
Assets

2. Liabilities and Stockholders' Equity
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Exercise 4-17 The adjusted trial balance for Bere Company is given below:
BERE COMPANY
Trial Balance
August 31, 2014
Before
Adjustment
After
AdjustmentDr.Cr.Dr.Cr.Cash$10,900$10,900Accounts
Receivable8,8009,400Supplies2,500500Prepaid
Insurance4,0002,500Equipment16,00016,000Accumulated
Depreciation—Equipment$3,600$4,800Accounts Payable5,8005,800Salaries and Wages
Payable01,100Unearned Rent Revenue1,800800Common Stock10,00010,000Retained
Earnings5,5005,500Dividends2,8002,800Service Revenue34,00034,600Rent
Revenue12,10013,100Salaries and Wages Expense17,00018,100Supplies Expense02,000Rent
Expense10,80010,800Insurance Expense01,500Depreciation Expense
0
1,200
$72,800
$72,800
$75,700
$75,700
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CancelPrepare the income statement for the year ended August 31.
BERE COMPANY
Income Statement

3. For the Year Ended August 31, 2014
ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings,
September 1, 2013Retained Earnings, August 31, 2014Dividends
$
Expenses Revenues Total Expenses Total Revenues Net Income / (Loss) Retained
Earnings, September 1, 2013 Retained Earnings, August 31, 2014 Dividends
$
ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings,
September 1, 2013Retained Earnings, August 31, 2014Dividends
$
Expenses Revenues Total Expenses Total Revenues Net Income / (Loss) Retained
Earnings, September 1, 2013 Retained Earnings, August 31, 2014 Dividends
ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings,
September 1, 2013Retained Earnings, August 31, 2014Dividends
$
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Link to TextPrepare the retained earnings statements for the year ended August 31. (List items
that increase retained earnings first.)
BERE COMPANY

4. Retained Earnings Statement
For the Year Ended August 31, 2014
ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings,
September 1, 2013Retained Earnings, August 31, 2014Dividends
$
AddLess: ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained
Earnings, September 1, 2013Retained Earnings, August 31, 2014Dividends
AddLess: ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained
Earnings, September 1, 2013Retained Earnings, August 31, 2014Dividends
ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings,
September 1, 2013Retained Earnings, August 31, 2014Dividends
$
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Link to TextPrepare the classified balance sheet at August 31. (List current assets in order of
liquidity.)
BERE COMPANY
Balance Sheet
August 31, 2014
Assets
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term
LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders'
EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible
AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term
InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal
RevenuesTotal Stockholders' Equity
$

5. Current Assets Current Liabilities Expenses Intangible Assets Long-term
Investments Long-term Liabilities Net Income / (Loss) Property, Plant and
Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total
Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total
Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term
Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders'
Equity
$
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term
LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders'
EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible
AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term
InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal
RevenuesTotal Stockholders' Equity
Add Less :
Current Assets Current Liabilities Expenses Intangible Assets Long-term
Investments Long-term Liabilities Net Income / (Loss) Property, Plant and
Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total
Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total
Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term
Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders'
Equity
$
Liabilities and Stockholders' Equity
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term
LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders'
EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible
AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term

6. InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal
RevenuesTotal Stockholders' Equity
$
Current Assets Current Liabilities Expenses Intangible Assets Long-term
Investments Long-term Liabilities Net Income / (Loss) Property, Plant and
Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total
Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total
Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term
Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders'
Equity
$
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term
LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders'
EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible
AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term
InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal
RevenuesTotal Stockholders' Equity
Current Assets Current Liabilities Expenses Intangible Assets Long-term
Investments Long-term Liabilities Net Income / (Loss) Property, Plant and
Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total
Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total
Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term
Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders'
Equity
Current Assets Current Liabilities Expenses Intangible Assets Long-term
Investments Long-term Liabilities Net Income / (Loss) Property, Plant and

7. Equipment Revenues Stockholders' Equity Total Assets Total Current Assets Total
Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total
Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term
Liabilities Total Property, Plant and Equipment Total Revenues Total Stockholders'
Equity
$
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Solution
Before After Adjustment Adjustment Changes Changes Dr. Cr. Dr. Cr. Cash $10,900
$10,900 $0 Accounts Receivable 8,800 9,400 $600 Supplies 2,500 500 ($2,000) Prepaid
Insurance 4,000 2,500 ($1,500) Equipment 16,000 16,000 $0 Accumulated
Depreciation—Equipment $3,600 $4,800 $1,200 Accounts Payable 5,800 5,800 $0 Salaries
and Wages Payable 0 1,100 $1,100 Unearned Rent Revenue 1,800 800 ($1,000) Common
Stock 10,000 10,000 $0 Retained Earnings 5,500 5,500 $0 Dividends 2,800 2,800 $0 Service
Revenue 34,000 34,600 $600 Rent Revenue 12,100 13,100 $1,000 Salaries and Wages
Expense 17,000 18,100 $1,100 Supplies Expense 0 2,000 $2,000 Rent Expense 10,800 10,800
Insurance Expense 0 1,500 $1,500 Depreciation Expense 0 1,200 $1,200 $72,800 $72,800
$75,700 $75,700 $2,900 $2,900 Particulars Amount Service Revenue $ 34,600 Rent
Revenue $ 13,100 Salaries and Wages Expense $ 18,100 Supplies Expense $ 2,000 Rent
Expense $ 10,800 Insurance Expense $ 1,500 Depreciation Expense $ 1,200 Total
expenses $ 33,600 Net Income $ 14,100 Particulars Amount Retained earnings as on 1
September, 2013 $ (5,800) + Net Income $ 14,100 - Dividends $ (2,800) Retained earnings
as on 31 August, 2014 $ 5,500 Assets Amount Amount Cash $10,900 Accounts
Receivable 9,400 Supplies 500 Prepaid Insurance 2,500 Equipment 16,000 Total Assets
39,300 Owner's equity and liability Liability Accumulated Depreciation—Equipment $4,800
Accounts Payable 5,800 Salaries and Wages Payable 1,100 Unearned Rent Revenue 800
$12,500 Owner's equity Common Stock 10,000 Retained Earnings 5,500 Dividends -2,800
Net Income 14,100 26,800 Total Owner's equity and liability $39,300