Question

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 7,500 1,800 10,000 14,800 2e, see Prepare the (1) Income statement and (2) statement of retained earnings for the year ended December 31 and (3) balance sheet at December 31. The Retained Earnings account balance was $14.800 on December 31 of the prior year.

Answer 1

solution u STARK, COMPANY Income statement For the year ended Decembera 20,000 savice Revenue Expensee ", Interest expense Wages expense Insurance expense Utilities expense supplies expense Depreciation expense- Buildings Total Expenses 500 7,500 1,800 1,300 200 Prepaid cash Accoun supplie Buildi Less Accumu TE 2,000 (13.300) 6700 Net Income Notes Accou Wage Inte Une Cor STARK COMPANY statement of Retained Earnings For the year Ended December3 Re Tot $ 14,800 Retained earini . Dec 31 ngs- prior year end Add: Net Income 6700 21,500 dress: Dividende ovo 18,500 Retained earninge Dec 31 curent year end

STARK COMPANY Balance sheet December 31 2500 10,000 4,000 800 Assets Prepaid Insurance cash Accounts receivable supplies Buildings Less Accumlated depreciation -- Buildings Total Assets Liabilities Go, ovo (15.000) 25,000 42,00 operesa 11,000 1,500 400 loo 13,800 Notes Payable Accounts Payable Wages Payable Interest Payable Payable Uneained Revenue Total liabilities, Equity common stock Retained earnings Total Equity Total liabilities and equity! 10,000 18,500 28,500 42,300