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Retained Eamings Statement Accounting Cyde Yolanda Weaver owns and operates Weaver Advertising Services. On January 1, 2018, Retained Earnings had a balance of $238,850. During the year, Yolanda invested an additional $52,500 in From the following list of steps in the accounting cycle, identify what two steps are missing: exchange for common stock and $31,100 in dividends were paid. For the year ended December 31, 2018, Weaver Advertising Services reported a net income of $44,200 a. Transactions are analyzed and recorded in the journal b. Transactions are posted to the ledger c. An unadjusted trial balance is prepared d. An optional end-of-period spreadsheet is prepared e. Adjusting entries are journalized and posted to the ledger f. An adjusted trial balance is prepared g. Financial statements are prepared. h. A post-closing trial balance is prepared Prepare a retained earnings statement for the year ended December 31, 2018 Weaver Adversing Services Retained Earnings Statement For the Year Ended December 31, 2018 Select the steps in the accounting cycle in their proper order and include the two missing steps Flow of Accounts into Financial Statements The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, retained earnings statement, or balance sheet. 1. Accumulated Depreciation-Building 2. Cash 3. Fees Earned 4. Insurance Expense 5. Prepaid Rent 6. Supplies 7. Dividends 8. Wages Expense 10

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