The following accounts and balances were drawn from the records of Barker Company at December 31, Year 2: Cash flow from investing act. Prepaid insurance Service revenue other operating expenses Supplies expense Insurance expense Beginning common stock Cash flow from operating act. Common stock issued $ 670 (7,800) 2,800 81,000 40,000 290 1,100 900 7,100 5,200 Beginning retained earnings Cash flow from financing act. Rent expense Dividends Cash Accounts receivable Prepaid rent Unearned revenue Land Accounts payable $ 19,000 (5,500) 2,500 4,900 11,400 19,000 4,900 7,800 36,000 9,660 Required Use the accounts and balances from Barker Company to construct an income statement, statement of changes in stockholders' equity. balance sheet, and statement of cash flows (show only totals for each activity on the statement of cash flows).
The following accounts and balances were drawn from the records of Barker Company at December 31, Year 2: Cash flow from investing act. Prepaid insurance Service revenue other operating expenses Supplies expense Insurance expense Beginning common stock Cash flow from operating act. Common stock issued $ 670 (7,800) 2,800 81,000 40,000 290 1,100 900 7,100 5,200 Beginning retained earnings Cash flow from financing act. Rent expense Dividends Cash Accounts receivable Prepaid rent Unearned revenue Land Accounts payable $ 19,000 (5,500) 2,500 4,900 11,400 19,000 4,900 7,800 36,000 9,660 Required Use the accounts and balances from Barker Company to construct an income statement, statement of changes in stockholders' equity. balance sheet, and statement of cash flows (show only totals for each activity on the statement of cash flows).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:The following accounts and balances were drawn from the records of Barker Company at December 31, Year 2:
Cash flow from investing act.
Prepaid insurance
Service revenue
other operating expenses
Supplies expense
Insurance expense
Beginning common stock
Cash flow from operating act.
Common stock issued
$
Ending common stock
Beginning retained earnings
670 Beginning retained earnings
(7,800) Cash flow from financing act.
Rent expense
2,800
81,000
Dividends
40,000
Cash
Accounts receivable
Prepaid rent
Unearned revenue
Ending retained earnings
Total stockholders' equity
290
1,100
900
Balance Sheet
7,100
5,200
Required
Use the accounts and balances from Barker Company to construct an income statement, statement of changes in stockholders' equity.
balance sheet, and statement of cash flows (show only totals for each activity on the statement of cash flows).
Complete this question by entering your answers in the tabs below.
Income
Statement
Stmt of
Changes
Use the accounts and balances from Barker Company to construct statement of changes in stockholders' equity.
BARKER COMPANY
Statement of Changes in Stockholders' Equity
For the Year Ended December 31, Year 2
Beginning common stock
Land
Accounts payable
Statement of
Cash flows
$
$
0
0
0
$ 19,000
(5,500)
2,500
4,900
11,400
19,000
4,900
7,800
36,000
9,660
< Income Statement
Balance Sheet >
Transcribed Image Text:The following accounts and balances were drawn from the records of Barker Company at December 31, Year 2:
Supplies
Cash flow from investing act.
Prepaid insurance
Service revenue
Other operating expenses
Supplies expense
Insurance expense
Beginning common stock
Cash flow from operating act.
Common stock issued
Income
Statement
Revenue
$
670 Beginning retained earnings
Cash flow from financing act.
(7,800)
2,800
Rent expense
81,000
Dividends
40,000
Complete this question by entering your answers in the tabs below.
Total revenue
Expenses
Balance Sheet
Total expenses
290
1,100
900
Required
Use the accounts and balances from Barker Company to construct an income statement, statement of changes in stockholders' equity,
balance sheet, and statement of cash flows (show only totals for each activity on the statement of cash flows).
Stmt of
Changes
Use the accounts and balances from Barker Company to construct an income statement.
7,100
5,200
BARKER COMPANY
Income Statement
For the Year Ended December 31, Year 2
Statement of
Cash flows
Cash
Accounts receivable.
Prepaid rent
Unearned revenue
Land
Accounts payable
$
$
0
0
0
$ 19,000
Stmt of Changes >
(5,500)
2,500
4,900
11,400
19,000
4,900
7,800
36,000
9,660
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