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accounting
Sheridan Company was organized on April 1, 2020. The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below.
| Debits | Credits | |||||
| Cash | R$ 6,000 | Accumulated Depreciation—Equipment | R$ 600 | |||
| Accounts Receivable | 480 | Notes Payable | 3,000 | |||
| Prepaid Rent | 1,000 | Accounts Payable | 700 | |||
| Supplies | 800 | Salaries and Wages Payable | 300 | |||
| Equipment | 11,000 | Interest Payable | 50 | |||
| Dividends | 400 | Unearned Rent Revenue | 300 | |||
| Salaries and Wages Expense | 7,000 | Share Capital—Ordinary | 11,580 | |||
| Rent Expense | 1,000 | Service Revenue | 11,000 | |||
| Depreciation Expense | 600 | Rent Revenue | 1,200 | |||
| Supplies Expense | 100 | R$28,730 | ||||
| Utilities Expense | 300 | |||||
| Interest Expense | 50 | |||||
| R$28,730 | ||||||
Determine the net income for the quarter April 1 to June 30.
| Net income/(loss) | R$ |
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Determine the total assets and total liabilities at June 30, 2020, for Sheridan Company
| Sheridan Company | ||
| Total assets | R$ | |
| Total liabilities | R$ |
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Determine the amount that appears for Retained Earnings at June 30, 2020.
| Retained Earnings, June 30 | R$ |
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