oints) Seved Required information In this problem, you will go through the accounting cycle for Boomer Co. for 2021 and 2022, The following information applies to the questions displayed below.) Boomer Co. reported the following events in 2021, the first year of operations: 1. Issued common stock for $55,000. 2. Paid $14,000 for 1-year of rent from April 1, 2021, to March 31, 2022. 3. Provided services to customers on account for $112,000. 4. Incurred operating expenses on account of $45,000 5. Received $85,500 cash from customers on account. 6. Paid $41,000 to employees for 2021 salaries. 7. Paid $36,000 on account. Adjusting Entries 8. Recorded adjusting entry for rent used in 2021 (from 2 above.) 9. Recorded adjusting entry for $6,400 of accrued salaries owed at the end of 2021. Events for 2022 1. Pald $6,400 for the salaries accrued at the end of 2021. 2. Provided services for cash of $61,000. 3. Purchased $4,800 of supplies on account. 4. Pald $16.500 for 1-year of rent April 1, 2022 to March 31, 2023 5. Provided services to customers on account for $128.000 6. Incurred operating expenses on account of $61,500. 7. Received $109,000 from customers on account 8. Pald $59,000 on account. 9. Paid $33,500 to employees for 2022 salaries. 10. Paid $11,000 in dividends to stockholders. Adjusting Entries 11. Recorded adjusting entry for rent used in 2022. (Hint Port of the tent was paid in 2021, rent per month is not the same In each month in 2022) 12. Recorded adjusting entry for supplies. At the end of the year. $450 of supplies were still on hand. MacBook Air 20 ODO 11 FE FE $ % A & * 12. Recorded adjusting entry for supplies. At the end of the year, $450 of supplies were still on hand, month is not the same -1. Prepare an income statement for 2021 by (1) entering the account title and (2) entering the amount from the Trial Balance in Part c/3 for each account. Not every line will be used. BOOMER COMPANY Income Statement For the Year Ended December 31, 2021 Expenses Total expenses 0 $ 0 d-2. Prepare a statement of stockholders' equity for 2021. Use this format the top 3 lines are for Common Stock (Beg, balance, Stock issued, End, balance) skip 1 line; the next 3 lines are for Retained Earnings (Beg, balance, Net income, End. balancey: the bottom line is for Total Stockholders' Equity. Leave the spaces blank for beginning common stock and retained earnings. The 2021 net income amount is found on the 2021 income statement BOOMER COMPANY Statement of Stockholders' Equity For the Year Ended December 31, 2021 $ 0 0 Total stockholders' equity $ 0 Project (20 points) Save Help Sava E Required Information 4 d-3. Prepare a balance sheet for 2021 by (1) entering the account title and (2) entering the amount from the Trial Balance in Parte/3 for each account except for Retained Earnings (use the ending balance from the Statement of Stockholders' Equity). Not every line will be used. Part 4 of 7 3 points BOOMER COMPANY Balance Sheet As of December 31, 2025 Assets Book 0 Total assets Liabilities $ 0 Total liabilities Stockholders' equity 0 Total stockholders' equity Total liabilities and stockholders' equity $ 0 G oints) Seved Required information In this problem, you will go through the accounting cycle for Boomer Co. for 2021 and 2022, The following information applies to the questions displayed below.) Boomer Co. reported the following events in 2021, the first year of operations: 1. Issued common stock for $55,000. 2. Paid $14,000 for 1-year of rent from April 1, 2021, to March 31, 2022. 3. Provided services to customers on account for $112,000. 4. Incurred operating expenses on account of $45,000 5. Received $85,500 cash from customers on account. 6. Paid $41,000 to employees for 2021 salaries. 7. Paid $36,000 on account. Adjusting Entries 8. Recorded adjusting entry for rent used in 2021 (from 2 above.) 9. Recorded adjusting entry for $6,400 of accrued salaries owed at the end of 2021. Events for 2022 1. Pald $6,400 for the salaries accrued at the end of 2021. 2. Provided services for cash of $61,000. 3. Purchased $4,800 of supplies on account. 4. Pald $16.500 for 1-year of rent April 1, 2022 to March 31, 2023 5. Provided services to customers on account for $128.000 6. Incurred operating expenses on account of $61,500. 7. Received $109,000 from customers on account 8. Pald $59,000 on account. 9. Paid $33,500 to employees for 2022 salaries. 10. Paid $11,000 in dividends to stockholders. Adjusting Entries 11. Recorded adjusting entry for rent used in 2022. (Hint Port of the tent was paid in 2021, rent per month is not the same In each month in 2022) 12. Recorded adjusting entry for supplies. At the end of the year. $450 of supplies were still on hand. MacBook Air 20 ODO 11 FE FE $ % A & * 12. Recorded adjusting entry for supplies. At the end of the year, $450 of supplies were still on hand, month is not the same -1. Prepare an income statement for 2021 by (1) entering the account title and (2) entering the amount from the Trial Balance in Part c/3 for each account. Not every line will be used. BOOMER COMPANY Income Statement For the Year Ended December 31, 2021 Expenses Total expenses 0 $ 0 d-2. Prepare a statement of stockholders' equity for 2021. Use this format the top 3 lines are for Common Stock (Beg, balance, Stock issued, End, balance) skip 1 line; the next 3 lines are for Retained Earnings (Beg, balance, Net income, End. balancey: the bottom line is for Total Stockholders' Equity. Leave the spaces blank for beginning common stock and retained earnings. The 2021 net income amount is found on the 2021 income statement BOOMER COMPANY Statement of Stockholders' Equity For the Year Ended December 31, 2021 $ 0 0 Total stockholders' equity $ 0 Project (20 points) Save Help Sava E Required Information 4 d-3. Prepare a balance sheet for 2021 by (1) entering the account title and (2) entering the amount from the Trial Balance in Parte/3 for each account except for Retained Earnings (use the ending balance from the Statement of Stockholders' Equity). Not every line will be used. Part 4 of 7 3 points BOOMER COMPANY Balance Sheet As of December 31, 2025 Assets Book 0 Total assets Liabilities $ 0 Total liabilities Stockholders' equity 0 Total stockholders' equity Total liabilities and stockholders' equity $ 0 G
