Answered step by step
Verified Expert Solution
Question
1 Approved Answer
URGENT income statment, stameny of SH equity, and balance sheet ! Required information (The following information applies to the questions displayed below.] The December 31,
URGENT
! Required information (The following information applies to the questions displayed below.] The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 10,100 131,000 4,100 20,500 210,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totala $116,000 10,100 9,100 3,100 21,000 110.000 41,000 310,000 210,000 10,500 21,000 3,100 $620,300 $620,300 Required: 1. Prepare an income statement for the year ended December 31, 2021. Required information {The following information applies to the questions displayed below.) The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 10,100 131,000 4,100 20,500 210,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $116,000 10,100 9.100 3,100 21,000 110,000 41,000 310.000 210,000 10,500 21,000 100 $620,300 $620,300 2. Prepare a statement of stockholders' equity for the year ended December 31, 2021, assuming no common stock was issued during 2021, U Required information {The following information applies to the questions displayed below.) The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debat Credit Cash $ 10,100 Accounts Receivable 131,000 Prepaid Rent 4.100 Supplies 20,500 Equipment 210,000 Accumulated Depreciation $116,000 Accounts Payable 10,100 Salaries Payable 9,100 Interest Payable 3,100 Notes Payable (due in two years) 21,000 Common Stook 110,000 Retained Earnings 41,000 Service Revenue 310,000 Salaries Expense 210,000 Rent Expense 10,500 Depreciation Expense 21,000 Interest Expense 3.100 Total $620,300 $620,300 3. Prepare a classified balance sheet as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) income statment, stameny of SH equity, and balance sheet
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started