Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Create an income statement, statement of stockholders equity, and balance sheet. Credits Debits $103,000 17,500 28,000 25,000 105,000 $ 47,000 13,500 60,500 Accounts Cash Accounts

Create an income statement, statement of stockholders equity, and balance sheet.
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Credits Debits $103,000 17,500 28,000 25,000 105,000 $ 47,000 13,500 60,500 Accounts Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salaries Payable Deferred Revenue Interest Payable Notes Payable Common Stock RE ned Earnings Dividends Service Revenue Salaries Expense Depreciation Expense Insurance Expense Supplies Expense Utilities Expense Interest Expense Totals 36,000 58,000 11,500 5,500 237,000 166,500 13,000 $463,500 $463,500 In addition, the company had the following year-end adjusting entries. Credits Debits 10,500 10,500 4,500 4,500 1,500 1,500 a. Depreciation Expense Accumulated Depreciation b. Salaries Expense Salaries Payable c. Interest Expense Interest Payable d. Insurance Expense Prepaid Insurance e. Supplies Expense Supplies f. Deferred Revenue Conuri ro RounHD 20,500 20,500 22,500 22,500 15,500 15 SAA Denn innant Afrikaans. FARAH nem Required information Complete this question by entering your answers in the tabs below. Stmt of Income Stockholders Balance Sheet Statement Equity Prepare a statement of shareholders' equity for the year ended December 31, 2021. Assume that no common stock is issued during the year. JAGUAR AUTO COMPANY Statement of Stockholders' Equity For the Year Ended December 31, 2021 Common Stock Retained Earnings Total Stockholders Equity Balance at January 1 Less Dividends Balance at December 31 Inrame ! Required information Prepare a Uamu vatant SEL TUI LE year trueu veuen el 31, 2021. JAGUAR AUTO COMPANY Balance Sheet December 31, 2021 Liabilities Current Liabilities Assets Current Assets Cash Accounts Receivable Supplies Accounts Payable Deferred Revenue Total Current Assets Long-term Assets Equipment $ 0 0 Total Current Liabilities Long-term Liabilities Notes Payable Deferred Revenue Total Liabilities Stockholders' Equity Common Stock Retained Earnings Accumulated Depreciation Total Stockholders' Equity 0 Total Liabilities and Stockholders' Equity 0 $ Total Assets 0 Stmt of Stockholders Equity Balance sheet

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Process Modeling Simulation And Design

Authors: Manuel Laguna, Johan Marklund

3rd Edition

1138061735, 978-1138061736

More Books

Students also viewed these Accounting questions

Question

What factors contribute most to the comprehension of read text?

Answered: 1 week ago

Question

1 Why is job analysis important?

Answered: 1 week ago