Following are the accounts and balances from the adjusted trial balance of Stark Company. Notes payable $ 18,000 Accumulated depreciation-Buildings $ 22,000 Prepaid insurance 3,200 Accounts receivable 5,400 Interest expense 640 Utilities expense 2,000 Accounts payable 5,000 Interest payable 380 Wages payable 1,100 Unearned revenue 1,150 Cash 24,000 Supplies expense 340 Wages expense 8,200 Buildings 110,000 Insurance expense 2,500 Stark, Withdrawals 6,500 Stark, Capital 66,800 Depreciation expense-Buildings 5,500 Services revenue 55,000 Supplies 1,150 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 $66,800 on December 31 of the prior year. Please use numbers indicated in my question and supply solution for income statement ,St. Owner's Equity, and balance sheet. Thanks for your prompt responses and detailed solutions. They are really helping me.
Following are the accounts and balances from the adjusted trial balance of Stark Company. Notes payable $ 18,000 Accumulated depreciation-Buildings $ 22,000 Prepaid insurance 3,200 Accounts receivable 5,400 Interest expense 640 Utilities expense 2,000 Accounts payable 5,000 Interest payable 380 Wages payable 1,100 Unearned revenue 1,150 Cash 24,000 Supplies expense 340 Wages expense 8,200 Buildings 110,000 Insurance expense 2,500 Stark, Withdrawals 6,500 Stark, Capital 66,800 Depreciation expense-Buildings 5,500 Services revenue 55,000 Supplies 1,150 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 $66,800 on December 31 of the prior year. Please use numbers indicated in my question and supply solution for income statement ,St. Owner's Equity, and balance sheet. Thanks for your prompt responses and detailed solutions. They are really helping me.
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter21: Accounting For Accruals, Deferrals, And Reversing Entries
Section: Chapter Questions
Problem 1MP
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Following are the accounts and balances from the adjusted
| Notes payable | $ | 18,000 | $ | 22,000 | |||
| Prepaid insurance | 3,200 | Accounts receivable | 5,400 | ||||
| Interest expense | 640 | Utilities expense | 2,000 | ||||
| Accounts payable | 5,000 | Interest payable | 380 | ||||
| Wages payable | 1,100 | Unearned revenue | 1,150 | ||||
| Cash | 24,000 | Supplies expense | 340 | ||||
| Wages expense | 8,200 | Buildings | 110,000 | ||||
| Insurance expense | 2,500 | Stark, Withdrawals | 6,500 | ||||
| Stark, Capital | 66,800 | Depreciation expense-Buildings | 5,500 | ||||
| Services revenue | 55,000 | Supplies | 1,150 | ||||
Prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31, and (3)
Please use numbers indicated in my question and supply solution for income statement ,St. Owner's Equity, and balance sheet. Thanks for your prompt responses and detailed solutions. They are really helping me.
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