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Shown below are the account balances for Barnie Corp. for their year-end December 31, 2022: Cash $ 10,475 Accounts receivable 16,640 Inventory 98,220 Building 188,600 Accumulated amortization-building Accounts payable Income taxes payable Common shares Retained earnings, beginning Dividends declared Sales revenue Cost of goods sold Salaries and wages expense Amortization expense Utilities expense Supplies expense Income taxes expense 72,600 9,400 5,450 154,525 40,720 7,500 265,000 143,600 56,900 12,850 3,300 1,970 7,640

Shown below are the account balances for Barnie Corp. for their year-end December 31, 2022: Cash $ 10,475 Accounts receivable 16,640 Inventory 98,220 Building 188,600 Accumulated amortization-building Accounts payable Income taxes payable Common shares Retained earnings, beginning Dividends declared Sales revenue Cost of goods sold Salaries and wages expense Amortization expense Utilities expense Supplies expense Income taxes expense 72,600 9,400 5,450 154,525 40,720 7,500 265,000 143,600 56,900 12,850 3,300 1,970 7,640

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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Subject- accounting

1. Shown below are the account balances for Barnie Corp. for their year-end December 31, 2022: Cash $ 10,475 16,640 98,220 188,600 Accounts receivable Inventory Building Accumulated amortization-building Accounts payable Income taxes payable Common shares Retained earnings, beginning Dividends declared Sales revenue Cost of goods sold Salaries and wages expense Amortization expense Utilities expense Supplies expense Income taxes expense 72,600 9,400 5,450 154,525 40,720 7,500 265,000 143,600 56,900 12,850 3,300 1,970 7,640 Required: prepare the: i) the income statement, ii) the statement of retained earnings, and iii) the classified balance sheet for Barnie Corporation.
Transcribed Image Text:1. Shown below are the account balances for Barnie Corp. for their year-end December 31, 2022: Cash $ 10,475 16,640 98,220 188,600 Accounts receivable Inventory Building Accumulated amortization-building Accounts payable Income taxes payable Common shares Retained earnings, beginning Dividends declared Sales revenue Cost of goods sold Salaries and wages expense Amortization expense Utilities expense Supplies expense Income taxes expense 72,600 9,400 5,450 154,525 40,720 7,500 265,000 143,600 56,900 12,850 3,300 1,970 7,640 Required: prepare the: i) the income statement, ii) the statement of retained earnings, and iii) the classified balance sheet for Barnie Corporation.
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