Following are the accounts and balances from the adjusted trial balance of Stark Company. Notes payable $ 12,000 Accumulated depreciation-Buildings $ 16,000 Prepaid insurance 2,600 Accounts receivable 4,200 Interest expense 520 Utilities expense 1,400 Accounts payable 2,000 Interest payable 140 Wages payable 500 Unearned revenue 850 Cash 12,000 Supplies expense 220 Wages expense 7,600 Buildings 50,000 Insurance expense 1,900 Stark, Withdrawals 3,500 Stark, Capital 30,800 Depreciation expense-Buildings 2,500 Services revenue 25,000 Supplies 850 Prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31, and (3) balance sheet at December 31. The Stark, Capital account balance was $30,800 on December 31 of the prior year.
Following are the accounts and balances from the adjusted trial balance of Stark Company. Notes payable $ 12,000 Accumulated depreciation-Buildings $ 16,000 Prepaid insurance 2,600 Accounts receivable 4,200 Interest expense 520 Utilities expense 1,400 Accounts payable 2,000 Interest payable 140 Wages payable 500 Unearned revenue 850 Cash 12,000 Supplies expense 220 Wages expense 7,600 Buildings 50,000 Insurance expense 1,900 Stark, Withdrawals 3,500 Stark, Capital 30,800 Depreciation expense-Buildings 2,500 Services revenue 25,000 Supplies 850 Prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31, and (3) balance sheet at December 31. The Stark, Capital account balance was $30,800 on December 31 of the prior year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Following are the accounts and balances from the adjusted
| Notes payable | $ | 12,000 | $ | 16,000 | |||
| Prepaid insurance | 2,600 | 4,200 | |||||
| Interest expense | 520 | Utilities expense | 1,400 | ||||
| Accounts payable | 2,000 | Interest payable | 140 | ||||
| Wages payable | 500 | Unearned revenue | 850 | ||||
| Cash | 12,000 | Supplies expense | 220 | ||||
| Wages expense | 7,600 | Buildings | 50,000 | ||||
| Insurance expense | 1,900 | Stark, Withdrawals | 3,500 | ||||
| Stark, Capital | 30,800 | Depreciation expense-Buildings | 2,500 | ||||
| Services revenue | 25,000 | Supplies | 850 | ||||
Prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31, and (3)
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