The following accounts and balances were drawn from the records of...
80.2K
Verified Solution
Link Copied!
Question
Accounting
The following accounts and balances were drawn from the records of Barker Company at December 31, 2016:
Supplies
$
760
Beginning retained earnings
$
19,000
Cash flow from investing act.
(6,900)
Cash flow from financing act.
6,000
Prepaid insurance
2,300
Rent expense
2,600
Service revenue
81,000
Dividends
5,400
Other operating expenses
42,000
Cash
11,600
Supplies expense
230
Accounts receivable
19,000
Insurance expense
1,100
Prepaid rent
5,200
Beginning common stock
900
Unearned revenue
6,900
Cash flow from operating act.
8,000
Land
39,000
Common stock issued
5,800
Accounts payable
15,590
Required
Use the accounts and balances from Barker Company to construct an income statement
BARKER COMPANY
Income Statement
For the Year Ended December 31, 2016
Revenue
Total revenue
Expenses
Total expenses
Use the accounts and balances from Barker Company to construct statement of changes in stockholders equity.
BARKER COMPANY
Statement of Changes in Stockholders Equity
For the Year Ended December 31, 2016
Beginning common stock
Ending common stock
Beginning retained earnings
Ending retained earnings
Total stockholders equity
Use the accounts and balances from Barker Company to construct balance sheet.
BARKER COMPANY
Balance Sheet
As of December 31, 2016
Assets
Total assets
Liabilities
Total liabilities
Stockholders Equity
Total stockholders equity
Total liabilities and stockholders equity
Use the accounts and balances from Barker Company to construct statement of cash flows (show only totals for each activity on the statement of cash flows). (Amounts to be deducted and cash outflows should be indicated with a minus sign.)
BARKER COMPANY
Statement of Cash Flows
For the Year Ended December 31, 2016
Cash flow from operating activities
Cash flow from investing activities
Cash flow from financing activities
Net change in cash
Ending cash balance
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!