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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

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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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: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 &
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
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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