"Following are the accounts and balances from the adjusted trial balance of Stark Company.Prepare the (1) income statement and (2) statement of owner's equity for the year endedDecember 31 and (3) balance sheet at December 31. The Stark, Capital account balance was$24,800 on December 31 of the prior year."Accumulated depreciation-Buldings...Notes payable..Prepaid insurance$11,000$15,0002,500Accounts receivablo4,000Interest expense500Utilities expense1,300Accounts payable1,500Interest payable100Wages payableCashUnearned revoenueSupplies expense40080010,000200Wages expense7,500Buildings40,000Insurance expense1,800Stark, Withdrawals3,00024,800Depreciation expense-BuldingsSupplies...Stark, Capital2,000Services revenue20,000800

"Following are the accounts and balances from the adjusted trial balance of Stark Company. 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 $24,800 on December 31 of the prior year." Notes payable.. $11,000 Accumulated depreciation-Buldings.... $15,000 Prepaid insurance 2,500 Accounts receivable 4,000 Interest expense 500 Utilties expense 1,300 Accounts payable 1,500 Interest payable 100 Wages payable 400 Unearned revenue 800 Cash 10,000 Supplies expense 200 Wages expense 7,500 Buildings 40,000 Insurance expense 1,800 Stark, Withdrawals 3,000 Stark, Capital . 24,800 Depreciation expense-Buildings Supplies... 2,000 Services revenue 20,000 800

"Following are the accounts and balances from the adjusted trial balance of Stark Company. 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 $24,800 on December 31 of the prior year." Notes payable.. $11,000 Accumulated depreciation-Buldings.... $15,000 Prepaid insurance 2,500 Accounts receivable 4,000 Interest expense 500 Utilties expense 1,300 Accounts payable 1,500 Interest payable 100 Wages payable 400 Unearned revenue 800 Cash 10,000 Supplies expense 200 Wages expense 7,500 Buildings 40,000 Insurance expense 1,800 Stark, Withdrawals 3,000 Stark, Capital . 24,800 Depreciation expense-Buildings Supplies... 2,000 Services revenue 20,000 800

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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