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Robinson 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 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the statement of stockholders' equity for the year ended December 31, 2024. Beginning Balance Issuance of Common Stock Add: Net Income Less: Dividends Ending Balance Required 3 ROBINSON CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2024 Common Stock $ Retained Earnings 19,000 $ 29,700 $ 4,000 0 0 $ 23,000 $ < Required 1 Total Stockholders' Equity (44,500) 57,600 42,800 $ 48,700 4,000 (44,500) 57,600 65,800 Required 3 > $3,100 10,200 78,000 4,400 42,800 5,800 24,000 68,400 26,500 7,500 (?) 23,000 5,000 2,000 13,000 29,700

Robinson 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 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the statement of stockholders' equity for the year ended December 31, 2024. Beginning Balance Issuance of Common Stock Add: Net Income Less: Dividends Ending Balance Required 3 ROBINSON CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2024 Common Stock $ Retained Earnings 19,000 $ 29,700 $ 4,000 0 0 $ 23,000 $ < Required 1 Total Stockholders' Equity (44,500) 57,600 42,800 $ 48,700 4,000 (44,500) 57,600 65,800 Required 3 > $3,100 10,200 78,000 4,400 42,800 5,800 24,000 68,400 26,500 7,500 (?) 23,000 5,000 2,000 13,000 29,700

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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Robinson 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 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the statement of stockholders' equity for the year ended December 31, 2024. Beginning Balance Issuance of Common Stock Add: Net Income Less: Dividends Ending Balance ROBINSON CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2024 Common Stock $ 19,000 4,000 Retained Earnings < Required 1 0 0 $ 23,000 $ Total Stockholders' Equity $ 29,700 $ 48,700 4,000 (44,500) (44,500) 57,600 57,600 42,800 $ 65,800 Required 3 > $3,100 10,200 78,000 4,400 42,800 5,800 24,000 68,400 26,500 7,500 (?) 23,000 5,000 2,000 13,000 29,700
Transcribed Image Text:Robinson 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 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the statement of stockholders' equity for the year ended December 31, 2024. Beginning Balance Issuance of Common Stock Add: Net Income Less: Dividends Ending Balance ROBINSON CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2024 Common Stock $ 19,000 4,000 Retained Earnings < Required 1 0 0 $ 23,000 $ Total Stockholders' Equity $ 29,700 $ 48,700 4,000 (44,500) (44,500) 57,600 57,600 42,800 $ 65,800 Required 3 > $3,100 10,200 78,000 4,400 42,800 5,800 24,000 68,400 26,500 7,500 (?) 23,000 5,000 2,000 13,000 29,700
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