Homework Answers
Solution 2:
| Fightin Blue Hens Corporation | |||
| Statement of stockholder's equity | |||
| For the year ended Dec 31, 2021 | |||
| Particulars | Common stock | Retained earnings | Total stockholder's equity |
| Balance At January 1 | $300,000.00 | $60,000.00 | $360,000.00 |
| Add: Net Income | $0.00 | $35,000.00 | $35,000.00 |
| Less: Dividends | $0.00 | $0.00 | $0.00 |
| Balance at December 31 | $300,000.00 | $95,000.00 | $395,000.00 |
Note: Dividend information is not available in question, therefore dividend is considered zero.
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The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. ...
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 a...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. ...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debit Credit Cash $ 11,000 Accounts Receivable 140,000 Prepaid Rent 5,000 Supplies 25,000 Equipment 300,000 Accumulated Depreciation $ 125,000 Accounts Payable 11,000 Salaries Payable 10,000 Interest Payable 4,000 Notes Payable (due in two years) 30,000 Common Stock 200,000 Retained Earnings 50,000 Service Revenue 400,000 Salaries Expense 300,000 Rent Expense 15,000 Depreciation Expense 30,000 Interest Expense 4,000 Totals $ 830,000 $ 830,000 2. Prepare...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. ...
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 December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 10,200 132,000 4,200 220,000 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 Totals $117,000 10,200 9,200 3,200 22,000 120,000 42,000 320,000 220,000 11,000 22,000 3,200 $643, 600 $643, 600 FIGHTIN' BLUE HENS CORPORATION Post-Closing...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. ...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debit Credit Cash $ 11,800 Accounts Receivable 148,000 Prepaid Rent 5,800 Supplies 29,000 Equipment 380,000 Accumulated Depreciation $ 133,000 Accounts Payable 11,800 Salaries Payable 10,800 Interest Payable 4,800 Notes Payable (due in two years) 38,000 Common Stock 280,000 Retained Earnings 58,000 Service Revenue 480,000 Salaries Expense 380,000 Rent Expense 19,000 Depreciation Expense 38,000 Interest Expense 4,800 Totals $ 1,016,400 $ 1,016,400 1. Prepare...
The December 31, 2021. adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit...
The December 31, 2021. adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit f3 5 Debit 11,988 149,000 5,900 29,50 398, see 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 Total $ 134,080 11,90 10,980 4,988 39. eee 298,888 59,000 499.00 390.ee 19, see 39 4,90 $1,039,780 $1.59.780 Required:...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. ...
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debit Credit Cash $ 11,200 Accounts Receivable 142,000 Prepaid Rent 5,200 Supplies 26,000 Equipment 320,000 Accumulated Depreciation $ 127,000 Accounts Payable 11,200 Salaries Payable 10,200 Interest Payable 4,200 Notes Payable (due in two years) 32,000 Common Stock 220,000 Retained Earnings 52,000 Service Revenue 420,000 Salaries Expense 320,000 Rent Expense 16,000 Depreciation Expense 32,000 Interest Expense 4,200 Totals $ 876,600 $ 876,600 Required: 1....
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. ...
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...
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. 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' BlueHens Corporation is presented below. ...
The December 31, 2021, adjusted trial balance for Fightin' Blue
Hens Corporation is presented below. AccountsDebitCreditCash$10,600Accounts Receivable136,000Prepaid Rent4,600Supplies23,000Equipment260,000Accumulated Depreciation$121,000Accounts Payable10,600Salaries Payable9,600Interest Payable3,600Notes Payable (due in two years)26,000Common Stock160,000Retained Earnings46,000Service Revenue360,000Salaries Expense260,000Rent Expense13,000Depreciation Expense26,000Interest Expense3,600Totals$736,800$736,800Prepare a classified balance sheet as of December 31, 2021.(Amounts to be deducted should be indicated by a minus
sign.)
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 a...
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 December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 10,200 132,000 4,200 220,000 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 Totals $117,000 10,200 9,200 3,200 22,000 120,000 42,000 320,000 220,000 11,000 22,000 3,200 $643, 600 $643, 600 FIGHTIN' BLUE HENS CORPORATION Post-Closing...
The December 31, 2021. adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit f3 5 Debit 11,988 149,000 5,900 29,50 398, see 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 Total $ 134,080 11,90 10,980 4,988 39. eee 298,888 59,000 499.00 390.ee 19, see 39 4,90 $1,039,780 $1.59.780 Required:...
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...
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. AccountsDebitCreditCash$10,600Accounts Receivable136,000Prepaid Rent4,600Supplies23,000Equipment260,000Accumulated Depreciation$121,000Accounts Payable10,600Salaries Payable9,600Interest Payable3,600Notes Payable (due in two years)26,000Common Stock160,000Retained Earnings46,000Service Revenue360,000Salaries Expense260,000Rent Expense13,000Depreciation Expense26,000Interest Expense3,600Totals$736,800$736,800Prepare a classified balance sheet as of December 31, 2021.(Amounts to be deducted should be indicated by a minus
sign.)
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