Question
Cornhusker Company provides the following information at the end of 2015 Cash remaining $ 3,300 Rent expense for the year 5,500 Land that has been
Cornhusker Company provides the following information at the end of 2015
| Cash remaining | $ | 3,300 | |
| Rent expense for the year | 5,500 | ||
| Land that has been purchased | 20,000 | ||
| Retained earnings | 10,900 | ||
| Utility expense for the year | 3,400 | ||
| Accounts receivable from customers | 5,700 | ||
| Service revenue earned during the year | 29,500 | ||
| Salary expense for the year | 11,800 | ||
| Accounts payable to suppliers | 1,450 | ||
| Dividends paid to shareholders during the year | 1,700 | ||
| Common stock that has been issued prior to 2015 | 15,000 | ||
| Salaries owed at the end of the year | 1,650 | ||
| Insurance expense for the year | 2,000 | ||
| No common stock is issued during 2015, and the balance of retained earnings at the beginning of 2015 equals $5,800. |
| Required: | |
| 1. | Prepare the income statement for Cornhusker Company on December 31, 2015. |
| 2. | Prepare the statement of stockholders equity for Cornhusker Company on December 31, 2015.
|
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