The December 31, 2024, adjusted trial balance for Badger Corporation is presented below. Accounts Cash Accounts Receivable Prepaid Rent Supplies Land Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Utilities Expense Interest Expense Totals Required: Debit $25,000 Credit 215,000 6,000 43,000 330,000 $25,000 24,000 5,000 53,000 365,000 86,000 565,000 413,000 33,000 53,000 5,000 $1,123,000 $1,123,000 1. Prepare an Income statement for the year ended December 31, 2024. 2. Prepare a statement of stockholders' equity for the year ended December 31, 2024, assuming no common stock was issued during 2024. 3. Prepare a classified balance sheet as of December 31, 2024.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The December 31, 2024, adjusted trial balance for Badger Corporation is presented below.
Accounts
Cash
Accounts Receivable
Prepaid Rent
Supplies
Land
Accounts Payable
Salaries Payable
Interest Payable.
Notes Payable (due in two years)
Common Stock
Retained Earnings
Service Revenue
Salaries Expense
Rent Expense
Utilities Expense
Interest Expense
Totals
Required:
Debit
$25,000
Credit
215,000
6,000
43,000
330,000
$25,000
24,000
5,000
53,000
365,000
86,000
565,000
413,000
33,000
53,000
5,000
$1,123,000
$1,123,000
1. Prepare an Income statement for the year ended December 31, 2024.
2. Prepare a statement of stockholders' equity for the year ended December 31, 2024, assuming no common stock was issued during
2024.
3. Prepare a classified balance sheet as of December 31, 2024.
Complete this question by entering your answers in the tabs below.
Stmt of
Income
Statement
Stockholders Balance Sheet
Equity
Prepare an income statement for the year ended December 31, 2024.
BADGER CORPORATION
Income Statement
For the Year Ended December 31, 2024
Expenses:
Total expenses
Transcribed Image Text:The December 31, 2024, adjusted trial balance for Badger Corporation is presented below. Accounts Cash Accounts Receivable Prepaid Rent Supplies Land Accounts Payable Salaries Payable Interest Payable. Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Utilities Expense Interest Expense Totals Required: Debit $25,000 Credit 215,000 6,000 43,000 330,000 $25,000 24,000 5,000 53,000 365,000 86,000 565,000 413,000 33,000 53,000 5,000 $1,123,000 $1,123,000 1. Prepare an Income statement for the year ended December 31, 2024. 2. Prepare a statement of stockholders' equity for the year ended December 31, 2024, assuming no common stock was issued during 2024. 3. Prepare a classified balance sheet as of December 31, 2024. Complete this question by entering your answers in the tabs below. Stmt of Income Statement Stockholders Balance Sheet Equity Prepare an income statement for the year ended December 31, 2024. BADGER CORPORATION Income Statement For the Year Ended December 31, 2024 Expenses: Total expenses
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