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 Wages

image text in transcribed
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 $ 11,000 2,500 See 1,500 400 10,000 7,5ee 1,800 10,eee 14,800 2e, eee Accumulated 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 Bee 200 40,ce 3,000 2,80 800 Wages expense Insurance expense Common stock Retained earnings Services revenue Prepare the (1) Income statement and ater 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. Income Statement Statement of Retained Earnings Balance Sheet Prepare the income statement for the year ended December 31. STARK COMPANY Income Statement For Year Ended December 31 Expenses Total expenses 0 $ 0 Statement of Income Retained Balance Sheet Statement Earnings Prepare the statement of retained earnings for the year ended December 31. The Retained Earnings account balance was $14,800 on December 31 of the prior year. STARK COMPANY Statement of Retained Earnings For Year Ended December 31 Retained earnings, Dec. 31 prior year end 0 Retained earnings. Dec. 31 current year end 0 Income Statement Statement of Retained Earnings Balance Sheet Prepare the balance sheet at December 31. STARK COMPANY Balance Sheet December 31 Assets Total assets $ 0 Liabilities Total liabilities Equity Total equity Total liabilities and equity $

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

Transportation Division Department Of Commerce Report On Preliminary Performance Audit Survey

Authors: Montana. Legislature. Office Of The Legi

1st Edition

1245445294, 978-1245445290

More Books

Students also viewed these Accounting questions

Question

Does it avoid using personal pronouns (such as I and me)?

Answered: 1 week ago

Question

Does it clearly identify what you have done and accomplished?

Answered: 1 week ago