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 2. CH2 Q7 18,000 Supplies $ 660 Beginning

image text in transcribed

The following accounts and balances were drawn from the records of Barker Company at December 31, Year 2. CH2 Q7 18,000 Supplies $ 660 Beginning retained earnings $ 18,000 Cash flow from investing activities (6,600) Cash flow from financing activities 5,200 Prepaid insurance 2,200 Rent expense 2,500 Service revenue 83,000 Dividends 4,800 Other operating expenses 41,000 Cash 11,300 Supplies expense 210 Accounts receivable Insurance expense 1,300 Prepaid rent 5,120 Beginning common stock 1,000 Unearned revenue 6,600 Cash flow from operating activities 7,200 Land 38,000 Common stock issued 5,100 Accounts payable 11,370 Use the accounts and balances from Barker Company to construct an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows (show only totals for each activity on the statement of cash flows). Use the accounts and balances from Barker Company to construct an income statement. BARKER COMPANY BARKER COMPANY B Income Statement Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 2 For the Year Ended December 31, Year 2 Revenue Beginning common stock Ending common stock Beginning retained earnings Total revenue Expenses Ending retained earnings Total stockholders' equity Total expenses BARKER COMPANY D Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Net change in cash BARKER COMPANY Balance Sheet As of December 31, Year 2 Assets Ending cash balance Total assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity

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