Question

Su 'S 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, een 130,000 4,000 20,000 200,000 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 $115,000 10,000 9,000 3,000 20,000 100,000 40,000 300,000 200,000 10,000 20,000 3,000 $597,000 $597,000 O < Prev 3 4 of 5 Next >

Answer 1

FIGHTIN BLUE HENS CORPORATION Income Statement For the Year Ended December 31, 2021 Revenue Service Revenue Expenses Salaries Expenses Rent Expenses Depreciation Expenses Interest Expenses Total expenses Net Income S 300,000 S 200,000 10,000 20,000 3,000 S 233,000 67,000 2 FIGHTIN BLUE HENS CORPORATION Statement of stockholders' equity For the Year Ended December 31, 2021 Common stocl S 100,000 S -$ S 100,000 S107,000 -S S 100,000 S 107,000 Retained Beginning Balance Add: Net Income 40,000 67,000 Less: Dividends Ending Balance

FIGHTIN BLUE HENS CORPORATION Balance Sheet December 31,2021 Assets Liabilities Current assets : Current Liabilities S 10,000 S 9,000 S 3,000 $ 22,000 Cash 10,000 Accounts Payable Salaries Payable Interest payable $ 130,000 Accounts Receivables Prepaid Rent Supplies Total current assets 4,000 20,000 Total current Liabilities 164,000 Long Term Borrowings Notes Payable S 20,000 Long term assets S 42,000 Equipment Less: Accumulated Depreciation -Equipment 200000 115000 Total liabilities Stockholders' equity 85,000 Common stock Retained Earnings Total stockholdes' equity Total Long term assets $ $100,000 $107,000 $207,000 Total Assets $249,000 249,000 Total Liabilities and Stock holders' equity