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finished the first part but having trouble with the rest, any help is appreciated!! Problem 3-30A (Static) Identifying and arranging the components of financial statements
finished the first part but having trouble with the rest, any help is appreciated!!
Problem 3-30A (Static) Identifying and arranging the components of financial statements LO 3-4 The following accounts and balances were drawn from the records of Barker Company at December 31, Year 2: Supplies Cash flow from investing act. Prepaid insurance Service revenue Other operating expenses Supplies expense Insurance expense Beginning common stock Cash flow from operating act. Common stock issued $ 1,000 (5,200) 1,200 65,200 41,000 1,100 2,100 40,000 15,600 5,000 Beginning retained earnings Cash flow from financing act. Rent expense Dividends Cash Accounts receivable Prepaid rent Unearned revenue Land Accounts payable $ 9,300 (5,000) 2,500 3,000 48,000 14,200 4,800 6,400 24,000 17,000 Required Use the accounts and balances from Barker Company to construct an income statement BARKER COMPANY Income Statement For the Year Ended December 31, Year 2 Revenue Service revenue $ 65,200 $ 65,200 Total revenue Expenses Supplies expense Rent expense Insurance expense Other Operating expenses $ 1.100 2,500 2,100 41.000 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, Year 2 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, Year 2 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. Year 2 Cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Net change in'cash Ending cash balance Step by Step Solution
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