Homework Answers
1) Income Statement
| STARK COMPANY | ||
| Income Statement | ||
| For Year Ended December 31 | ||
| Service revenue | $35000 | |
| Expenses: | ||
| Interest expense | 560 | |
| Wages expense | 7800 | |
| Insurance expense | 2100 | |
| Utilities expense | 1600 | |
| Supplies expense | 260 | |
| Depreciation expense- Buildings | 3500 | |
| Total expenses | -15820 | |
| Net income | $19180 | |
2) Statement of owner's equity
| STARK COMPANY | |
| Statement of Owner's Equity | |
| For Year Ended December 31 | |
| Beginning Capital of Stark | $42800 |
| Add: Net income | 19180 |
| 61980 | |
| Less: Stark, Withdrawals | -4500 |
| Ending capital of Stark | $57480 |
3) Balance Sheet
| STARK COMPANY | ||
| Balance Sheet | ||
| December 31 | ||
| Assets | ||
| Cash | $16000 | |
| Accounts receivable | 4600 | |
| Supplies | 950 | |
| Prepaid insurance | 2800 | |
| Buildings | $70000 | |
| Less: Accumulated depreciation- Buildings | -18000 | 52000 |
| Total assets | $76350 | |
| Liabilities | ||
| Accounts payable | 3000 | |
| Wages payable | 700 | |
| Interest payable | 220 | |
| Unearned revenue | 950 | |
| Notes payable | 14000 | |
| Total liabilities | $18870 | |
| Equity | ||
| Stark, Capital | $57480 | |
| Total liabilities and equity | $76350 | |
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Exercise 3-10 Preparing Financial Statements from a Trial Balance LO P6 Following are the accounts and...
Chapter 3 Graded o Check my Exercise 3-10 Preparing Financial Statements from a Trial Balance LO...
Chapter 3 Graded o Check my Exercise 3-10 Preparing Financial Statements from a Trial Balance LO P6 Following are the accounts and balances from the adjusted trial balance of Stark Company. 2.2 points 8 00:40:41 Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Stark, Capital Services revenue cBook $ 28,000 4,200 B40 10,000 2. 100 44,000 9.200 3.500 126, 800 105,000 Accumulated depreciation Buildings $ 32,000 Accounts receivable 7.400 Utilities expense 3,000 Interest...
work Exercise 3-15 (Algo) Preparing closing entries LO P6 Use the adjusted trial balance accounts for...
work Exercise 3-15 (Algo) Preparing closing entries LO P6 Use the adjusted trial balance accounts for Stark Company to prepare closing entries. View transaction list Journal entry worksheet < 1 2 3 Record the closure of revenue account(s). Note: Enter debits before credits Transaction Account Title Debit Credit 1 < Prev 15 of 20 Ne tv 16 cation.com extima MIS 213/Janicki H... Entropy Gradeboo. ACG connect VMware Hor .lt PollEverywhere Saved Required information Use the following information for Exercises 13-15...
Following are the accounts and balances (in random order) from the adjusted trial balance of Stark...
Following are the accounts and balances (in random order) from the adjusted trial balance of Stark Company $ 11,000 2,5ee 500 1,500 Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Common stock Retained earnings Services revenue Accumulated depreciation-Buildings Accounts receivable Utilities expense Interest payable Unearned revenue Supplies expense Buildings Dividends Depreciation expense-Buildings Supplies $ 15,000 4,000 1,300 100 800 2ee 40,000 3,000 2,000 800 10,000 7,500 1,800 10,000 14,800 20,000 Prepare the (1)...
Following are the accounts and balances (in random-order from the adjusted trial balance of Stark Company....
Following are the accounts and balances (in random-order from the adjusted trial balance of Stark Company. Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash $ 11,000 2,500 See 1,500 400 10,000 7,5ee 1,800 10,eee 14,800 2e, eee Accumulated depreciation-Buildings Accounts receivable Utilities expense Interest payable Unearned revenue Supplies expense Buildings Dividends Depreciation expense-Buildings Supplies $ 15,000 4,000 1,300 100 Bee 200 40,ce 3,000 2,80 800 Wages expense Insurance expense Common stock Retained earnings Services revenue Prepare the...
Please complete and or correct Following are the accounts and balances (in random order from the...
Please complete and or correct
Following are the accounts and balances (in random order from the adjusted trial balance of Stark Company $ 11,000 2,500 500 1,5ee 400 Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Common stock Retained earnings Services revenue Accumulated depreciation-Buildings Accounts receivable Utilities expense Interest payable Unearned revenue Supplies expense Buildings Dividends Depreciation expense-Buildings Supplies $ 15, eee 4,000 1,300 1ee 800 200 40,00 3, eee 2, Bee 10,000...
Exercise 4-11 Preparing the financial statements LO C2 The following is the adjusted trial balance of...
Exercise 4-11 Preparing the financial statements LO C2 The following is the adjusted trial balance of Wilson Trucking Company. Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Credit $ 6,300 16,500 2,000 171,000 $ 35, 226 75,000 10,300 3,000 52,000 169,593 19,000 124,500 22,721 58,391 13,000 10,707 $394,619 $394,619 The...
Exercise 4-11 Preparing the financial statements LO C2 The following is the adjusted trial balance of...
Exercise 4-11 Preparing the financial statements LO C2 The following is the adjusted trial balance of Wilson Trucking Company. Account Titi Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Truck Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit | 7,000 16,500 2,00€ 183,080 $ 37,698 75,000 11,880 3,000 52,000 177,162 19,000 119,000 24, 315 55,811 7,000 10,234 $ 399,860 5 399,860...
I'm missing and expense Following are the accounts and balances (in random order) from the adjusted...
I'm missing and expense
Following are the accounts and balances (in random order) from the adjusted trial balance of Star Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Common stock Retained earnings Services revenue $ 11,000 Accumulated depreciation-Buildings 2,500 Accounts receivable 500 Utilities expense 1,500 Interest payable 400 Unearned revenue 10,000 Supplies expense 7,500 Buildings 1,800 Dividends 10,000 Depreciation expense-Buildings 14,800 Supplies 20,000 $ 15,000 4,000 1,300 100 800 200 40,000 3,000 2,000...
does anyone know what im missing ?? Following are the accounts and balances (in random order)...
does anyone know what im missing ??
Following are the accounts and balances (in random order) from the adjusted trial balance of Stark Company Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Common stock Retained earnings Services revenue $ 19,000 3,300 660 5,500 1,200 26,000 8,300 2,600 16,400 56,400 60,000 Accumulated depreciation-Buildings Accounts receivable Utilities expense Interest payable Unearned revenue Supplies expense Buildings Dividends Depreciation expense-Buildings Supplies $ 23,000 5,600 2,100 420 1,200...
Exercise 4-11 Preparing financial statements LO C3 The following adjusted year-end trial balance at December 31...
Exercise 4-11 Preparing financial statements LO C3 The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 6,300 Accounts receivable 16,500 office supplies 2,000 Trucks 174,000 Accumulated depreciation-Trucks $ 35,844 Land 75,000 Accounts payable 10,300 Interest payable 3,000 Long-term notes payable 52,000 x. Wilson, Capital 154, 193 x. Wilson, withdrawals 19,000 Trucking fees earned 148,500 Depreciation expense 23,119 Trucks Salaries expense 69,647 Office supplies expense 5,500 Repairs expense Trucks 12,771 Totals...
Chapter 3 Graded o Check my Exercise 3-10 Preparing Financial Statements from a Trial Balance LO P6 Following are the accounts and balances from the adjusted trial balance of Stark Company. 2.2 points 8 00:40:41 Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Stark, Capital Services revenue cBook $ 28,000 4,200 B40 10,000 2. 100 44,000 9.200 3.500 126, 800 105,000 Accumulated depreciation Buildings $ 32,000 Accounts receivable 7.400 Utilities expense 3,000 Interest...
work Exercise 3-15 (Algo) Preparing closing entries LO P6 Use the adjusted trial balance accounts for Stark Company to prepare closing entries. View transaction list Journal entry worksheet < 1 2 3 Record the closure of revenue account(s). Note: Enter debits before credits Transaction Account Title Debit Credit 1 < Prev 15 of 20 Ne tv 16 cation.com extima MIS 213/Janicki H... Entropy Gradeboo. ACG connect VMware Hor .lt PollEverywhere Saved Required information Use the following information for Exercises 13-15...
Following are the accounts and balances (in random order) from the adjusted trial balance of Stark Company $ 11,000 2,5ee 500 1,500 Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Common stock Retained earnings Services revenue Accumulated depreciation-Buildings Accounts receivable Utilities expense Interest payable Unearned revenue Supplies expense Buildings Dividends Depreciation expense-Buildings Supplies $ 15,000 4,000 1,300 100 800 2ee 40,000 3,000 2,000 800 10,000 7,500 1,800 10,000 14,800 20,000 Prepare the (1)...
Following are the accounts and balances (in random-order from the adjusted trial balance of Stark Company. Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash $ 11,000 2,500 See 1,500 400 10,000 7,5ee 1,800 10,eee 14,800 2e, eee Accumulated depreciation-Buildings Accounts receivable Utilities expense Interest payable Unearned revenue Supplies expense Buildings Dividends Depreciation expense-Buildings Supplies $ 15,000 4,000 1,300 100 Bee 200 40,ce 3,000 2,80 800 Wages expense Insurance expense Common stock Retained earnings Services revenue Prepare the...
Please complete and or correct
Following are the accounts and balances (in random order from the adjusted trial balance of Stark Company $ 11,000 2,500 500 1,5ee 400 Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Common stock Retained earnings Services revenue Accumulated depreciation-Buildings Accounts receivable Utilities expense Interest payable Unearned revenue Supplies expense Buildings Dividends Depreciation expense-Buildings Supplies $ 15, eee 4,000 1,300 1ee 800 200 40,00 3, eee 2, Bee 10,000...
Exercise 4-11 Preparing the financial statements LO C2 The following is the adjusted trial balance of Wilson Trucking Company. Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Credit $ 6,300 16,500 2,000 171,000 $ 35, 226 75,000 10,300 3,000 52,000 169,593 19,000 124,500 22,721 58,391 13,000 10,707 $394,619 $394,619 The...
Exercise 4-11 Preparing the financial statements LO C2 The following is the adjusted trial balance of Wilson Trucking Company. Account Titi Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Truck Salaries expense Office supplies expense Repairs expense-Trucks Totals Debit | 7,000 16,500 2,00€ 183,080 $ 37,698 75,000 11,880 3,000 52,000 177,162 19,000 119,000 24, 315 55,811 7,000 10,234 $ 399,860 5 399,860...
I'm missing and expense
Following are the accounts and balances (in random order) from the adjusted trial balance of Star Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Common stock Retained earnings Services revenue $ 11,000 Accumulated depreciation-Buildings 2,500 Accounts receivable 500 Utilities expense 1,500 Interest payable 400 Unearned revenue 10,000 Supplies expense 7,500 Buildings 1,800 Dividends 10,000 Depreciation expense-Buildings 14,800 Supplies 20,000 $ 15,000 4,000 1,300 100 800 200 40,000 3,000 2,000...
does anyone know what im missing ??
Following are the accounts and balances (in random order) from the adjusted trial balance of Stark Company Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Common stock Retained earnings Services revenue $ 19,000 3,300 660 5,500 1,200 26,000 8,300 2,600 16,400 56,400 60,000 Accumulated depreciation-Buildings Accounts receivable Utilities expense Interest payable Unearned revenue Supplies expense Buildings Dividends Depreciation expense-Buildings Supplies $ 23,000 5,600 2,100 420 1,200...
Exercise 4-11 Preparing financial statements LO C3 The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 6,300 Accounts receivable 16,500 office supplies 2,000 Trucks 174,000 Accumulated depreciation-Trucks $ 35,844 Land 75,000 Accounts payable 10,300 Interest payable 3,000 Long-term notes payable 52,000 x. Wilson, Capital 154, 193 x. Wilson, withdrawals 19,000 Trucking fees earned 148,500 Depreciation expense 23,119 Trucks Salaries expense 69,647 Office supplies expense 5,500 Repairs expense Trucks 12,771 Totals...
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