Requireu mmonation [The following information applies to the questions displayed below.) The following is the adjusted trial balance of Sierra Company. Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildings Accounts payable Notes payable (due in 3 years) Common stock Retained earnings Dividends Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals. Required 1 Pennen Debit Credit $ 9,000 Required (1) Prepare an income statement for the year ended December 31, (2) Prepare a statement of retained earnings for the year ended December 31. Required 2 700 4,400 30,000 Complete this question by entering your answers in the tabs below. tamant for the ended Panambnr 91 $14,000 3,500 4,000 6,000 7,500 19,500 2,000 3,700 3,000 1,700 $54,500 $54,500
Requireu mmonation [The following information applies to the questions displayed below.) The following is the adjusted trial balance of Sierra Company. Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildings Accounts payable Notes payable (due in 3 years) Common stock Retained earnings Dividends Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals. Required 1 Pennen Debit Credit $ 9,000 Required (1) Prepare an income statement for the year ended December 31, (2) Prepare a statement of retained earnings for the year ended December 31. Required 2 700 4,400 30,000 Complete this question by entering your answers in the tabs below. tamant for the ended Panambnr 91 $14,000 3,500 4,000 6,000 7,500 19,500 2,000 3,700 3,000 1,700 $54,500 $54,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:required imoration
[The following information applies to the questions displayed below.)
The following is the adjusted trial balance of Sierra Company.
Account Title
Cash
Prepaid insurance
Notes receivable (due in 5 years)
Buildings
Accumulated depreciation Buildings
Accounts payable
Notes payable (due in 3 years)
Common stock
Retained earnings
Dividends
Consulting revenue
Wages expense
Depreciation expense-Buildings
Insurance expense
Totals
Saved
Required 1
Required 2
Debit Credit
$ 9,000
Panimant for the ended Panambar 91
700
4,400
30,000
Required
(1) Prepare an income statement for the year ended December 31.
(2) Prepare a statement of retained earnings for the year ended December 31.
$14,000
3,500)
4,000
6,000
7,500
19,500
Complete this question by entering your answers in the tabs below.
2,000
3,700
3,000
1,700
$54,500 $54,500
Help
Save &
Transcribed Image Text:11
Required
(1) Prepare an income statement for the year ended December 31.
(2) Prepare a statement of retained earnings for the year ended December 31.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Prepare an income statement for the year ended December 31.
SIERRA COMPANY
Income Statement
Total revenue
Total expense
< Required 1
Required
(1) Prepare an income statement for the year ended December 31.
(2) Prepare a statement of retained earnings for the year ended December 31.
Required 1
Complete this question by entering your answers in the tabs below.
Required
Prepare a statement of retained earnings for the year ended December 31. Owner made no investments d
period.
SIERRA COMPANY
Statement of Retained Earnings
Required 2 >
Retained earnings, December 31 prior year end
Retained earnings, December 31 current year end
< Required 1
Required 2
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