Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Following are the accounts and balances (in random order) from the adjusted trial balance of Stark Company Notes payable Prepaid insurance Interest expense Accounts payable

image text in transcribed
image text in transcribed
image text in transcribed
Following are the accounts and balances (in random order) from the adjusted trial balance of Stark Company Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Common stock Retained earnings Services revenue $ 11,000 2,500 500 1,500 400 10,000 7,500 1,800 10,000 14,800 20,000 Accunulated depreciation-Buildings Accounts receivable Utilities expense Interest payable Unearned revenue Supplies expense Buildings Dividends Depreciation expense-Buildings Supplies $ 15,000 4,000 1,300 100 800 200 40,008 3,000 2,000 800 Prepare the (1) income statement and (2) statement of retained earnings for the year ended December 31 and (3) balance sheet at December 31. The Retained Earnings account balance was $14,800 on December 31 of the prior year. Complete this question by entering your answers in the tabs below. Income Statement Statement of Retained Farnings Balance Sheet Help Save & Exh Check Prepare the (1) income statement and (2) statement of retained earnings for the year ended December 31 and (3) balance sheet at December 31. The Retained Earnings account balance was $14,800 on December 31 of the prior year Complete this question by entering your answers in the tabs below. Income Statement of Statement Retained Balance Sheet Earnings Prepare the balance sheet at December 31. STARK COMPANY Balance Sheet December 31 Assets Cash Accounts receivable Supplies Prepaid insurance 0 $ 0 Total assets Llabilities 0 Total liabilities Cash Accounts receivable Supplies Prepaid insurance 0 $ 0 Total assets Llabilities O Total liabilities Equity 0 0 $ Total equity Total liabilities and 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

ACCA Financial Accounting Study Text 2020 21

Authors: Emile Woolf International

1st Edition

1848439210, 978-1848439214

More Books

Students also viewed these Accounting questions

Question

1. Identify and control your anxieties

Answered: 1 week ago