The December 31, 2024, adjusted trial balance for Ostrich 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 Income Statement Debit $23,000 205,000 6,000 41,000 320,000 Stmt of Stockholders Balance Sheet Equity 411,000 31,000 51,000 4,000 $1,092,000 Credit $23,000 22,000 4,000 51,000 355,000 Required: 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, assum 2024. 3. Prepare a classified balance sheet as of December 31, 2024. 82,000 555,000 $1,092,000 Complete this question by entering your answers in the tabs below. Prepare an income statement for the year ended December 31, 2024. common stock was issued during

The December 31, 2024, adjusted trial balance for Ostrich 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 Income Statement Debit $23,000 205,000 6,000 41,000 320,000 Stmt of Stockholders Balance Sheet Equity 411,000 31,000 51,000 4,000 $1,092,000 Credit $23,000 22,000 4,000 51,000 355,000 Required: 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, assum 2024. 3. Prepare a classified balance sheet as of December 31, 2024. 82,000 555,000 $1,092,000 Complete this question by entering your answers in the tabs below. Prepare an income statement for the year ended December 31, 2024. common stock was issued during

Name: The December 31, 2024, adjusted trial balance for Ostrich Corporation
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Description: The December 31, 2024, adjusted trial balance for Ostrich Corporation is presented below.CashAccounts ReceivablePrepaid RentSuppliesLandAccounts PayableSalaries PayableInterest PayableAccountsNotes Payable (due in two years)Common StockRetained Earn

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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