Cornhusker Company provides the following information at the end of 2021. Cash remaining Rent expense for the year Land that has been purchased Retained earnings Utility expense for the year Accounts receivable from customers Service revenue recognized during the year Salary expense for the year Accounts payable to suppliers Dividends paid to shareholders during the year Common stock that has been issued prior to 2021 Salaries oved at the end of the year Insurance expense for the year Retained earnings at the beginning of the year Complete this question by entering your answers in the tabs below. $ 3,100 5,300 19,000 10,700 3,200 5,500 28,500 11,600 1,350 1,500 14,000 No common stock is issued during 2021. Required: 1. Prepare the income statement for Cornhusker Company on December 31, 2021. 2. Prepare the statement of stockholders' equity for Comhusker Company on December 31, 2021. 3. Prepare the balance sheet for Cornhusker Company on December 31, 2021. Expenses: Required 1 Required 2 Required 3 Prepare the income statement for Cornhusker Company on December 31, 2021. CORNHUSKER COMPANY Income Statement For the year ended December 31, 2021 1,550 1,800 5,600
Cornhusker Company provides the following information at the end of 2021. Cash remaining Rent expense for the year Land that has been purchased Retained earnings Utility expense for the year Accounts receivable from customers Service revenue recognized during the year Salary expense for the year Accounts payable to suppliers Dividends paid to shareholders during the year Common stock that has been issued prior to 2021 Salaries oved at the end of the year Insurance expense for the year Retained earnings at the beginning of the year Complete this question by entering your answers in the tabs below. $ 3,100 5,300 19,000 10,700 3,200 5,500 28,500 11,600 1,350 1,500 14,000 No common stock is issued during 2021. Required: 1. Prepare the income statement for Cornhusker Company on December 31, 2021. 2. Prepare the statement of stockholders' equity for Comhusker Company on December 31, 2021. 3. Prepare the balance sheet for Cornhusker Company on December 31, 2021. Expenses: Required 1 Required 2 Required 3 Prepare the income statement for Cornhusker Company on December 31, 2021. CORNHUSKER COMPANY Income Statement For the year ended December 31, 2021 1,550 1,800 5,600
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Cornhusker Company provides the following information at the end of 2021.
Cash remaining
Rent expense for the year
Land that has been purchased
Retained earnings
Utility expense for the year
Accounts receivable from customers.
Service revenue recognized during the year.
Salary expense for the year
Accounts payable to suppliers
Dividends paid to shareholders during the year
Common stock that has been issued prior to 2021
Salaries owed at the end of the year
Insurance expense for the year
Retained earnings at the beginning of the year
No common stock is issued during 2021.
Complete this question by entering your answers in the tabs below.
$ 3,100
5,300
19,000
10,700
3,200
5,500
28,500
11,600
1,350
1,500
14,000
1,550
Required:
1. Prepare the income statement for Cornhusker Company on December 31, 2021.
2. Prepare the statement of stockholders' equity for Cornhusker Company on December 31, 2021.
3. Prepare the balance sheet for Cornhusker Company on December 31, 2021.
Required 1
Required 2 Required 3
Prepare the income statement for Cornhusker Company on December 31, 2021.
CORNHUSKER COMPANY
Income Statement
For the year ended December 31, 2021
Expenses:
1,800
5,600
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