Required information Problem 3-5A Preparing financial statements from the adjusted trial balance and computing profit margin LO P6, A1 (The following information applies to the questions displayed below.) The adjusted trial balance for Chiara Company as of December 31 follows. Credit $ Debit 151,400 54,000 18,800 172,000 16,000 167,000 85,000 142,000 19,000 80,000 Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation-Equipment Lard Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable R. Chiara, Capital R. Chiara, withdrawals Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense office supplies expense Advertising expense Repairs expense-Automobiles Totals 90,000 35,000 21,000 34,000 150,000 295,800 47,000 524,000 32,000 26,000 18,000 191,000 48,000 32,200 34,400 60,000 28,000 $1,285,800 $1,285,800 "EUR - 3&5 U Saved Required: 1(a) Prepare the income statement for the year ended December 31. 1(b) Prepare the statement of owner's equity for the year ended December 31. (Note: R. Chiara, Capital at Dec 31 of the prior year was $295,800.) 1(c) Prepare Chiara Company's balance sheet as of December 31 Complete this question by entering your answers in the tabs below. Reg LA Req 18 Res 10 Prepare the income statement for the year ended December 31 CHIARA COMPANY Income Statement For Year Ended December 31 ences Reg 18 > Required: 1(a) Prepare the income statement for the year ended December 31. (6) Prepare the statement of evner's equity for the year ended December 31, [Note: R. Chiara, Capital at Dec. 31 of the prior year was $295,800.) 1(c) Prepare Chiara Company's balance sheet as of December 31. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Prepare the statement of owner's equity for the year ended December 31. [Note: R. Chiara, Capital at Dec. 31 of the prior year was $295,800.] CHIARA COMPANY Statement of Owner's Equity For Year Ended December 31 R. Chiara, Capital, Dec.31 prior year end R. Chiara, Capital, Dec. 31 current year end S Req 1A Reg 1B Req 1C Prepare Chiara Company's balance sheet as of December 31. Part 1 of 2 CHIARA COMPANY Balance Sheet December 31 30 points eBook References 1 . Required: 1(a) Prepare the income statement for the year ended December 31. (6) Prepare the statement of evner's equity for the year ended December 31, [Note: R. Chiara, Capital at Dec. 31 of the prior year was $295,800.) 1(c) Prepare Chiara Company's balance sheet as of December 31. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Prepare the statement of owner's equity for the year ended December 31. [Note: R. Chiara, Capital at Dec. 31 of the prior year was $295,800.] CHIARA COMPANY Statement of Owner's Equity For Year Ended December 31 R. Chiara, Capital, Dec.31 prior year end R. Chiara, Capital, Dec. 31 current year end S Req 1A Reg 1B Req 1C Prepare Chiara Company's balance sheet as of December 31. Part 1 of 2 CHIARA COMPANY Balance Sheet December 31 30 points eBook References 1 .
