Ans:
FIGHTIN' BLUE HENS CORPORATION | |||
Income Statement | |||
For the Year Ended December 31,2021 | |||
S.No | Particulars | Amount | Amount |
1 | Revenue: | ||
Service Revenue | $380,000 | ||
Total Revenue | $380,000 | ||
2 | Expenses: | ||
Salaries Expenses | $280,000 | ||
Rent Expense | $14,000 | ||
Depreciation Expenses | $28,000 | ||
Interest Expense | $3800 | ||
Total Expenses | $325,800 | ||
3 | Net Income | $54,200 |
Required information Exercise 3-16A Prepare financial statements from an adjusted trial balance (LO3-5) The following information...
Required information Exercise 3-16A Prepare financial statements from an adjusted trial balance (LO3-5) The following information applies to the questions displayed below. The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Credit Debit $ 10,800 138,000 Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense 4,800 24,000...
Required information Exercise 3-16A Prepare financial statements from an adjusted trial balance (LO3-5) The following information applies to the questions displayed below,) The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below Accounts Debit Credit 10,800 138,000 Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense 4,800 24,000 280,000...
Exercise 3-16A Prepare financial statements from an adjusted trial balance (LO3-5) [The following information applies to the questions displayed below. The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts credit Debit $ 11,100 141,000 Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense 5,100 25,500 310,000 $126,000 11,100 10,100 4,100 31,000...
Required information Exercise 3-16A Prepare financial statements from an adjusted trial balance (LO3-5) The following information applies to the questions displayed below.] The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented belov credit Debit s 11,100 141,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense 5,100 25,500...
Required information Exercise 3-16A Prepare financial statements from an adjusted trial balance (LO3-5) (The following information applies to the questions displayed below.) The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit $ Debit 12,000 150,000 6,000 30,000 400,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debit Credit Cash $ 10,800 Accounts Receivable 138,000 Prepaid Rent 4,800 Supplies 24,000 Equipment 280,000 Accumulated Depreciation $ 123,000 Accounts Payable 10,800 Salaries Payable 9,800 Interest Payable 3,800 Notes Payable (due in two years) 28,000 Common Stock 180,000 Retained Earnings 48,000 Service Revenue 380,000 Salaries Expense 280,000 Rent Expense 14,000 Depreciation Expense 28,000 Interest Expense 3,800 Totals $ 783,400 $ 783,400 1. Record...
Exercise 3-19 Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) [The following information applies to the questions displayed below.,] The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Debit Credit Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense $ 11,800 148,000 5,800 29,000...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debit Credit Cash $ 10,600 Accounts Receivable 136,000 Prepaid Rent 4,600 Supplies 23,000 Equipment 260,000 Accumulated Depreciation $ 121,000 Accounts Payable 10,600 Salaries Payable 9,600 Interest Payable 3,600 Notes Payable (due in two years) 26,000 Common Stock 160,000 Retained Earnings 46,000 Service Revenue 360,000 Salaries Expense 260,000 Rent Expense 13,000 Depreciation Expense 26,000 Interest Expense 3,600 Totals $ 736,800 $ 736,800 Prepare an...
The following information applies to the questions displayed below) The December 31, 2021. adjusted trial balance for Fight Blue Hens Corporation is presented below. Debit $ 10,500 135.00 1,500 22,500 250, $120,000 10,5ee 9, See Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals 45, 350,000 250.000 5713,500 $713,50 Required: 1. Prepare an...
Required information [The following information applies to the questions displayed below. The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 10,500 135,800 4,589 22,500 250,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Sto Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $120,000 10,500 9,500 3,500 25,000 150,000 45,000 350,000 250,000...