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Stark company has the following adjusted accounts and balances at its December 31 year-end. Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cashi
Stark company has the following adjusted accounts and balances at its December 31 year-end. Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cashi $ 12,000 Accumulated depreciation-Buildings 2,600 Accounts receivable 520 Utilities expense 2,000 Interest payable. 500 Unearned revenue $ 16,000 4,200 1,400 140 850 220 7,600 Buildings 50,000 1,900 Dividends 3,500 Common stock 10,800 Depreciation expense-Buildings 2,500 Retained earnings 20,000 Supplies 850 Services revenue 25,000 Wages expense Insurance expense 12,000 Supplies expense Use the adjusted trial balance accounts and balances at its December 31 year-end for Stark Company to prepare an adjusted trial balance. STARK COMPANY Adjusted Trial Balance December 31 Debit Credit Stark company has the following adjusted accounts and balances at its December 31 year-end. Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash $ 12,000 Accumulated depreciation-Buildings 2,600 Accounts receivable. 520 Utilities expense 2,000 Interest payable 500 Unearned revenue 12,000 Supplies expense $ 16,000 4,200 1,400 140 850 220 7,600 Buildings 50,000 1,900 Dividends 3,500 Retained earnings Services revenue 10,800 Depreciation expense-Buildings 20,000 Supplies 2,500 850 25,000 Wages expense Insurance expense Common stock Use the table of adjusted trial balance accounts for Stark Company to prepare the (1) income statement and (2) statement of retained earnings for the year ended December 31 and (3) balance sheet at December 31. The Retained Earnings account balance was $20,000 on December 31 of the prior year. Complete this question by entering your answers in the tabs below. Income Statement Statement of Retained Balance Sheet Earnings Prepare the income statement for the year ended December 31. STARK COMPANY Income Statement For Year Ended December 31 Prou Stark company has the following adjusted accounts and balances at its December 31 year-end. Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash $ 12,000 Accumulated depreciation-Buildings 2,600 Accounts receivable 520 Utilities expense 2,000 Interest payable 500 Unearned revenue $ 16,000 4,200 1,400 140 850 220 7,600 Buildings 50,000 1,900 Dividends. 3,500. 10,800 Depreciation expense-Buildings 2,500 Retained earnings 20,000 Supplies 850 Services revenue 25,000 Wages expense Insurance expense Common stock 12,000 Supplies expense Use the adjusted trial balance accounts for Stark Company to prepare closing entries. View transaction list Journal entry worksheet < 1 2 3 4 Record the closure of revenue account(s). Note: Enter debits before credits. Transaction Account Title Debit Credit
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