Following are the accounts and balances (in random order) from the adjusted trial balance of...

80.2K

Verified Solution

Question

Accounting

Following are the accounts and balances (in random order) from the adjusted trial balance of Stark Company.

Notes payable $ 19,000 Accumulated depreciationBuildings $ 23,000
Prepaid insurance 3,300 Accounts receivable 5,600
Interest expense 660 Utilities expense 2,100
Accounts payable 5,500 Interest payable 420
Wages payable 1,200 Unearned revenue 1,200
Cash 26,000 Supplies expense 360
Wages expense 8,300 Buildings 120,000
Insurance expense 2,600 Dividends 7,000
Common stock 16,400 Depreciation expenseBuildings 6,000
Retained earnings 56,400 Supplies 1,200
Services revenue 60,000

Prepare the (1) income statement and (2) statement of retained earnings for the year ended December 31 and (3) balance sheet at December 31. The Retained Earnings account balance was $56,400 on December 31 of the prior year.

image

OPtions for the left column

image

image

OPtions for the column 1st and 3rd row (left side)imageimage

Options for the column

image

image

Same options for Liabilities and Equity for the left column

image

Statement Dalance See Earnings Prepare the income statement for the year ended December 31. STARK COMPANY Income Statement For Year Ended December 31 Expenses Total expenses boldlice Steel Statement Relallieu Earnings Prepare the income statement for the year ended December 31. STARK COMPANY Income Statement For Year Ended December 31 Accounts payable Accounts receivable Accumulated depreciation-Buildings Buildings Total expenses Income Statement Statement of Retained Earnings Balance Sheet Prepare the statement of retained earnings for the year ended December 31. The Retained Earnings account balance was $56,400 on December 31 of the prior year. STARK COMPANY Statement of Retained Earnings For Year Ended December 31 Retained earnings, Dec. 31 prior year end Retained earnings, Dec. 31 current year end Income Statement Statement of Retained Earnings Balance Sheet Prepare the statement of retained earnings for the year ended December 31. The Retained Earnings account balance was $56,400 on December 31 of the prior year. STARK COMPANY Statement of Retained Earnings For Year Ended December 31 Retained earnings, Dec. 31 prior year end Add: Net income Add: Net loss come Statement Balance Sheet > Less: Net income Less: Net loss Income Statement Statement of Retained Earnings Balance Sheet Prepare the balance sheet at December 31. STARK COMPANY Balance Sheet December 31 Assets Total assets Liabilities Income Statement Statement of Retained Earnings Balance Sheet Prepare the balance sheet at December 31. STARK COMPANY Balance Sheet December 31 Assets Accounts payable Accounts receivable Cash Common stock Total assets Liabilities Total liabilities Equity Total equity Total liabilities and equity Liabilities Accounts payable Accounts receivable Accumulated depreciation-Buildings Buildings Total equity Total liabilities and equity $

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students