Following are the accounts and balances from the adjusted trial balance of Stark Company. Notes payable $ 12,000 Accumulated depreciation-Buildings $ 16,000 Prepaid insurance 2,600 Accounts receivable 4,200 Interest expense 520 Utilities expense 1,400 Accounts payable 2,000 Interest payable 140 Wages payable 500 Unearned revenue 850 Cash 12,000 Supplies expense 220 Wages expense 7,600 Buildings 50,000 Insurance expense 1,900 Stark, Withdrawals 3,500 Stark, Capital 30,800 Depreciation expense-Buildings 2,500 Services revenue 25,000 Supplies 850 Prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31, and (3) balance sheet at December 31. The Stark, Capital account balance was $30,800 on December 31 of the prior year.
Following are the accounts and balances from the adjusted trial balance of Stark Company. Notes payable $ 12,000 Accumulated depreciation-Buildings $ 16,000 Prepaid insurance 2,600 Accounts receivable 4,200 Interest expense 520 Utilities expense 1,400 Accounts payable 2,000 Interest payable 140 Wages payable 500 Unearned revenue 850 Cash 12,000 Supplies expense 220 Wages expense 7,600 Buildings 50,000 Insurance expense 1,900 Stark, Withdrawals 3,500 Stark, Capital 30,800 Depreciation expense-Buildings 2,500 Services revenue 25,000 Supplies 850 Prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31, and (3) balance sheet at December 31. The Stark, Capital account balance was $30,800 on December 31 of the prior year.
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter21: Accounting For Accruals, Deferrals, And Reversing Entries
Section: Chapter Questions
Problem 1MP
Related questions
Question
Following are the accounts and balances from the adjusted
Notes payable | $ | 12,000 | $ | 16,000 | |||
Prepaid insurance | 2,600 | Accounts receivable | 4,200 | ||||
Interest expense | 520 | Utilities expense | 1,400 | ||||
Accounts payable | 2,000 | Interest payable | 140 | ||||
Wages payable | 500 | Unearned revenue | 850 | ||||
Cash | 12,000 | Supplies expense | 220 | ||||
Wages expense | 7,600 | Buildings | 50,000 | ||||
Insurance expense | 1,900 | Stark, Withdrawals | 3,500 | ||||
Stark, Capital | 30,800 | Depreciation expense-Buildings | 2,500 | ||||
Services revenue | 25,000 | Supplies | 850 | ||||
Prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31, and (3)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage