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Guwara Corporation provides the following information at the end of 2024. Salaries payable to workers at the end of the year Advertising expense for the year Building that has been purchased Supplies at the end of the year Retained earnings $2,200 9,300 69,000 3,500 37,400 Utilities expense for the year Note payable to the bank Service revenue performed 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, including $4,000 that was issued this year Cash remaining Interest expense for the year Accounts receivable from customers Retained earnings at the beginning of the year Required: 1. Prepare the income statement for the year ended December 31, 2024. 2. Prepare the statement of stockholders' equity for the year ended December 31, 2024. 3. Prepare the balance sheet for the year ended December 31, 2024. 4,900 19,500 63,900 25,600 6,600 (?) 23,000 4,100 1,550 12,100 24,750

Guwara Corporation provides the following information at the end of 2024. Salaries payable to workers at the end of the year Advertising expense for the year Building that has been purchased Supplies at the end of the year Retained earnings $2,200 9,300 69,000 3,500 37,400 Utilities expense for the year Note payable to the bank Service revenue performed 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, including $4,000 that was issued this year Cash remaining Interest expense for the year Accounts receivable from customers Retained earnings at the beginning of the year Required: 1. Prepare the income statement for the year ended December 31, 2024. 2. Prepare the statement of stockholders' equity for the year ended December 31, 2024. 3. Prepare the balance sheet for the year ended December 31, 2024. 4,900 19,500 63,900 25,600 6,600 (?) 23,000 4,100 1,550 12,100 24,750

FINANCIAL ACCOUNTING
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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Guwara Corporation provides the following information at the end of 2024. Salaries payable to workers at the end of the year Advertising expense for the year Building that has been purchased Supplies at the end of the year Retained earnings $2,200 9,300 69,000 3,500 37,400 Utilities expense for the year Note payable to the bank Service revenue performed 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, including $4,000 that was issued this year Cash remaining Interest expense for the year Accounts receivable from customers Retained earnings at the beginning of the year Required: 1. Prepare the income statement for the year ended December 31, 2024. 2. Prepare the statement of stockholders' equity for the year ended December 31, 2024. 3. Prepare the balance sheet for the year ended December 31, 2024. 4,900 19,500 63,900 25,600 6,600 (?) 23,000 4,100 1,550 12,100 24,750
Transcribed Image Text:Guwara Corporation provides the following information at the end of 2024. Salaries payable to workers at the end of the year Advertising expense for the year Building that has been purchased Supplies at the end of the year Retained earnings $2,200 9,300 69,000 3,500 37,400 Utilities expense for the year Note payable to the bank Service revenue performed 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, including $4,000 that was issued this year Cash remaining Interest expense for the year Accounts receivable from customers Retained earnings at the beginning of the year Required: 1. Prepare the income statement for the year ended December 31, 2024. 2. Prepare the statement of stockholders' equity for the year ended December 31, 2024. 3. Prepare the balance sheet for the year ended December 31, 2024. 4,900 19,500 63,900 25,600 6,600 (?) 23,000 4,100 1,550 12,100 24,750
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