Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Marie's Dairy Sales & Delivery finished its first year of operations on December 31, 2022. After adjusting journal entries, the company presented the following adjusted
Marie's Dairy Sales & Delivery finished its first year of operations on December 31, 2022. After adjusting journal entries, the company presented the following adjusted trial balance. Click the icon to view the adjusted trial balance.) Requirement Using the adjusted trial balance for Marie's Dairy Sales & Delivery, prepare a single-step income statement, a statement of shareholders' equity, and a balance sheet. Begin by preparing Marie's single-step income statement for the year ended December 31, 2022. (If an input field is not used in the statement, leave the input field empty: do not select a label or enter a zero.) Marie's Dairy Sales & Delivery Statement of Net Income For the Year Ended December 31, 2022 Net Income Complete Marie's statement shareholders' equity for the year ended December 31, 2022. (Enter a "O" for any beginning or ending balances in the statement. If an input field is not used in the statement leave the input field empty; do not enter a zero. Use a minus sign or parentheses to show a decrease in any of the accounts.) rie's Dairy Sales & Delivery Statement of Shareholders' Equity For the Year Ended December 31, 2022 Common Stock Retained Earnings Total Equity Balance, January 1, 2022 Balance, December 31, 2022 Complete Marie's balance sheet for the year ended December 31, 2022. (If an input field is not used in the statement, leave the input field empty: do not select a label or enter a zero. Use a minus sign or parentheses to show a decrease in any of the accounts.) Marie's Dairy Sales & Delivery Balance Sheet At December 31, 2022 Assets Liabilities and Stockholders' Equity Data Table Credit 20.000 180,000 22.000 Marie's Dairy Sales & Delivery Adjusted Trial Balance At December 31 Account Debit Cash $ 760,000 Accounts Receivable 215.000 Supplies 86.000 Prepaid Insurance 17.000 Prepaid Rent 34,000 Equipment 450,000 Accumulated Depreciation Equipment s Accounts Payable Wages Payable Deferred Revenue Notes Payable, due 2023 Common Stock Retained Earnings Dividends 6.000 Sales Revenue Wage Expense 410,000 Utility Expense 26.000 Selling Expense 135,000 Administrative Expense 186,000 Insurance Expense 8,000 Supplies Expense 84.000 Depreciation Expense-Equipment 30,000 $ 2,447,000 $ Totals 16,000 45,000 900.000 0 1.264,000 2.447.000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started