The assets and liabilities of Global Travel Agency on Dece expenses for the year are as follows: Accounts payable $ 108,000 Miscellaneon Accounts receivable 539,000 Rent expens Cash Supplies Supplies exp 200,0C0 Common stock 575,000 Fees earned 940,000 Utilities expe Land 1,500,000 Wages expen Common stock was $525,000 and retained earnings was $1,2: the year, additional common stock of $50,000 was issued were paid. Instructions 1. Prepare an income statement for the year ended December 2. Prepare a statement of stockholders' equity for the year en 3. Prepare a balance sheet as of December 31, 20Y5. 4. What items
The assets and liabilities of Global Travel Agency on Dece expenses for the year are as follows: Accounts payable $ 108,000 Miscellaneon Accounts receivable 539,000 Rent expens Cash Supplies Supplies exp 200,0C0 Common stock 575,000 Fees earned 940,000 Utilities expe Land 1,500,000 Wages expen Common stock was $525,000 and retained earnings was $1,2: the year, additional common stock of $50,000 was issued were paid. Instructions 1. Prepare an income statement for the year ended December 2. Prepare a statement of stockholders' equity for the year en 3. Prepare a balance sheet as of December 31, 20Y5. 4. What items
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter16: Financial Statements And Closing Entries For A Corporation
Section: Chapter Questions
Problem 2AP
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