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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. I have to record journal entries in the order presented in the problem for question I have to record adjusting entries in the order presented in the problem for question an adjusted trial balance at december for question an income statement for the year ending december for question a retained earnings statement for the year ending december by listing the items that increases retained earnings first for question and a classified balance sheet as of december by listing the current assests in order of liquidity and listing property, plant and equipment in order of land and buildings for question
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