Barth Company reports the following year-end account balances at December 31: Prepare the income statement and the balance sheet as of December 31, in good form. Balance Sheet Note: Do not use any negative signs unless Barth had a loss for the year. Barth Company reports the following year-end account balances at December 31: Accounts payable Accounts receivable $16,000 30,000 Bonds payable, long-term 200,000 Buildings 151,000 Cash 148,000 Common stock 150,000 Cost of goods sold 180,000 Equipment 70,000 Inventory 36,000 Land 80,000 Goodwill 8,000 Retained earnings, end of year 160,000 Sales revenue Supplies inventory Supplies expense 500,000 3,000 6,000 Sales revenue 500,000 Supplies inventory 3,000 Supplies expense 6,000 40,000 Wages expense Prepare the income statement and the balance sheet as of December 31, in good form. Income Statement Balance Sheet Note: Do not use any negative signs unless Barth had a loss for the year. BARTH COMPANY Income Statement For Year Ended December 31 Sales revenue Cost of goods sold Gross profit Operating expenses: Supplies expense Wages expense Total expenses Net income ▾ S く 500,000 (180,000) x 320,000 (6,000) x (40,000) x (226,000) x ▾ $ 94,000 x

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....
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Barth Company reports the following year-end account balances at December 31:
Prepare the income statement and the balance sheet as of December 31, in good form.
Balance Sheet
Note: Do not use any negative signs unless Barth had a loss for the year.
Barth Company reports the following year-end account balances at December 31:
Accounts payable
Accounts receivable
$16,000
30,000
Bonds payable, long-term
200,000
Buildings
151,000
Cash
148,000
Common stock
150,000
Cost of goods sold
180,000
Equipment
70,000
Inventory
36,000
Land
80,000
Goodwill
8,000
Retained earnings, end of year 160,000
Sales revenue
Supplies inventory
Supplies expense
500,000
3,000
6,000
Transcribed Image Text:Barth Company reports the following year-end account balances at December 31: Prepare the income statement and the balance sheet as of December 31, in good form. Balance Sheet Note: Do not use any negative signs unless Barth had a loss for the year. Barth Company reports the following year-end account balances at December 31: Accounts payable Accounts receivable $16,000 30,000 Bonds payable, long-term 200,000 Buildings 151,000 Cash 148,000 Common stock 150,000 Cost of goods sold 180,000 Equipment 70,000 Inventory 36,000 Land 80,000 Goodwill 8,000 Retained earnings, end of year 160,000 Sales revenue Supplies inventory Supplies expense 500,000 3,000 6,000
Sales revenue
500,000
Supplies inventory
3,000
Supplies expense
6,000
40,000
Wages expense
Prepare the income statement and the balance sheet as of December 31, in good form.
Income Statement
Balance Sheet
Note: Do not use any negative signs unless Barth had a loss for the year.
BARTH COMPANY
Income Statement
For Year Ended December 31
Sales revenue
Cost of goods sold
Gross profit
Operating expenses:
Supplies expense
Wages expense
Total expenses
Net income
▾ S
く
500,000
(180,000) x
320,000
(6,000) x
(40,000) x
(226,000) x
▾ $
94,000 x
Transcribed Image Text:Sales revenue 500,000 Supplies inventory 3,000 Supplies expense 6,000 40,000 Wages expense Prepare the income statement and the balance sheet as of December 31, in good form. Income Statement Balance Sheet Note: Do not use any negative signs unless Barth had a loss for the year. BARTH COMPANY Income Statement For Year Ended December 31 Sales revenue Cost of goods sold Gross profit Operating expenses: Supplies expense Wages expense Total expenses Net income ▾ S く 500,000 (180,000) x 320,000 (6,000) x (40,000) x (226,000) x ▾ $ 94,000 x
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