Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following accounts and balances were drawn from the records of Barker Company at December 31, Year 1: Supplies Cash flow from investing act. Prepaid

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

The following accounts and balances were drawn from the records of Barker Company at December 31, Year 1: Supplies Cash flow from investing act. Prepaid Insurance Service revenue Other operating expenses Supplies expense Insurance expense Beginning common stock Cash flow from operating act. Coron stock issued $1,000 (5,200) 1,200 65.200 41,209 1,100 2,180 40,000 15,500 5,00 Beginning retained earnings Cash flow from financing act. Rent expense Dividends Cash Accounts receivable Prepaid rent Unearned revenue Land Accounts payable $ 9,300 (5,Bee) 2, see 3,000 48,690 14.20 4.800 6,400 24,000 17.000 Required Use the accounts and balances from Barker Company to construct an income statement BARKER COMPANY Income Statement For the Year Ended December 31, Year 1 Revenue Total revenue Expenses Total expenses Use the accounts and balances from Barker Company to construct statement of changes in stockholders' equity. BARKER COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Beginning common stock Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity Use the accounts and balances from Barker Company to construct balance sheet. BARKER COMPANY Balance Sheet As of December 31, Year 1 Assets Total assets Liabilities Total liabilities Stockholders' Equity Total stockholders equity Total liabilities and stockholders'equity Use the accounts and balances from Barker Company to construct statement of cash flows show only totals for each activity on the statement of cash flows (Amounts to be deducted and cash outflows should be indicated with a minus sign.) BARKER COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash Row from operating activities Cash How to investing this Cashow from financing activities Not change in cash Ending cash balance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions