Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

elect coe Income Statement (select one) Account Accounts receivable Balance 8,120 Accumulated depreciation, building 1,750 Accumulated depreciation, furniture 1.230 Bonds Payable (due July, 2028) 6,630

image text in transcribedimage text in transcribedimage text in transcribed elect coe Income Statement (select one) Account Accounts receivable Balance 8,120 Accumulated depreciation, building 1,750 Accumulated depreciation, furniture 1.230 Bonds Payable (due July, 2028) 6,630 Building 5,260 Cash 3,770 Commissions earned, 12.280 Consulting revenue eamed 13,740 Depreciation expense, building 1,750 Depreciation expense, fumiture 1,230 Dividends 3,710 Furniture 8,420 Insurance expense 1,240 Interest eamed, 2.850 Interest expense 2.040 Land 17.000 Long-term notes payable, 6,000 Long-term investment in shares, 13,560 Patents 6.970 Prepaid urance 2.200 Prepad ent 3100 Property taxes expense 3230 Property taxes payable 2.640 Renteamet, 11.030 Rant expense 910 Rent payable 6560 Share capital 19:950 Short-term notes payatie 4500 Trademark 2.730 Unearned ent 2650 select one) Statement of Changes in Equity select ne Share Retained Total Captal Eamings Equity WWN a D O F ar Corp. began operations on May 1, 2022. Its adjusted account balances at April 30, 2023 are shown below. Use this information to prepare the following come statement for the year ended April 30 tatement of changes in equity for the year ended April 30 Classified balance sheet at April 30 Account Accounts receivable, Balance 8,120 Accumulated depreciation, building. 1,750 Accumulated depreciation, fumiture 1.230 Bonds Payable (due July, 2028) 6.630 Building 5,760 Cash 3.770 Commissions earned 12.280 xxxx Consulting revenue eamed 13,740 Depreciation expense, building, 1,750 Depreciation expense, furniture 1,230 Dividends 3.710 Furniture 8,420 Insurance expense 1.240 Interest earned 2.050 Interest expense 2.040 Land 17.800 Long-term notes payable, 6,000 Long-term investment in shares 13.660 Patents. 6.970 Prepaid insurance, 2.200 Prepaid rent 3.100 Property taxes expense 3.200 Property taxes payable 2.840 1970 OLD (select one) Income Statement (select one) (select one) Statement of Changes in Equity select one) Share Retained Total Capta Eaminas Eauty 370 46 1275 5 ( merest expense 2040 Land 17,860 Long-term notes payable. 6,000 Long-term investment in shares 13,660 Patents 6,970 Prepaid insurance, 2.200 Prepaid rent, 3,100 Property taxes expense 3.230 Property taxes payable 2,840 Rent earned 11,030 Rent expense 8,910 Rent payable, 8,550 Share capital 19.650 Short-term notes payable 4.500 Trademark 2,730 Unearned rent 3.650 4 4 44 ++ 4 ++ 44 xxxxx seled one Statement of Changes in Equity (select one) Share Retained Total Capital Earnings Equity (select one) Balance Sheet (select one)

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

Cost Management A Strategic Emphasis

Authors: Edward Blocher, David Stout, Paul Juras, Gary Cokins

7th edition

77733770, 978-0077733773

More Books

Students also viewed these Accounting questions

Question

What are some of the first examples of emergency management?

Answered: 1 week ago

Question

What is the significance of the Flood Control Act of 1934?

Answered: 1 week ago