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Hawkeye Corporation's balance sheet at December 3 1 , 2 0 2 1 , is presented as follows. During 2 0 2 2 , the
Hawkeye Corporation's balance sheet at December is presented as follows.
During the following transactions occurred.
On January Hawkeye issued shares of $ par, preferred stock for $
On January Hawkeye also issued shares of the $ par value common stock for $
Hawkeye performed services for $ on account.
On April Hawkeye collected fees of $ in advance for services to be performed from April to March
Hawkeye collected $ from customers on account.
Hawkeye bought $ of supplies on account.
Hawkeye paid $ on accounts payable.
Hawkeye reacquired shares of its common stock on June for $ per share.
Paid other operating expenses of $
On December Hawkeye declared the annual preferred stock dividend and a $ per share dividend on the
outstanding common stock, all payable on January
An account receivable of $ which originated in is written off as uncollectible.
Adjustment data:
A count of supplies indicates that $ of supplies remain unused at yearend.
Recorded revenue from item above.
The allowance for doubtful accounts should have a balance of $ at year end.
Depreciation is recorded on the building on a straightline basis based on a year life and a salvage value of $
The income tax rate is Hint Prepare the income statement up to income before income taxes and multiply by to
compute the amount.
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