ri File Edit View History Bookmarks Window Help ezto Chapter 3 GRADED Homework A

Question

ri File Edit View History Bookmarks Window Help ezto Chapter 3 GRADED Homework Assignment The following information applies to the questions displayed below. The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation Accounts The December 31, 2018, A DebitCredit 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 $ 10,600 136,000 4,600 23,000 260,000 121,000 10,600 9,600 3,600 26,000 160,000 46,000 360,000 260,000 13,000 26,000 3,600 Totals $736,800 $736,800 References Exercise 3-16 Prepare financial statements from an adjusted trial Section Break

Explanation / Answer

FiGHTIN' BLUE HENS CORPORATION Income Statement For the year ended December 31, 2018 Service Revenue 360000 Total Revenue 360000 Expenses: Salaries Expense 260000 Rent Expense 13000 Depreciation Expense 26000 Intetest Expense 3600 Total Expenses 302600 Net Income 57400 FiGHTIN' BLUE HENS CORPORATION Statement of Stockholders' Equity For the year ended December 31, 2018 Common Stock Retained Earnings Total Stockholders Equity Balance at January 1 160000 46000 206000 Add: Net income 57400 57400 Less: Dividends Balance at December 31 160000 103400 263400 FiGHTIN' BLUE HENS CORPORATION Balance Sheet December 31, 2018 Assets: Liabilites Cash 10600 Accounts Payable 10600 Accounts Receivable 136000 Salaries payable 9600 Prepaid Rent 4600 Interest payable 3600 Supplies 23000 Total Current Assets 174200 Total Current Liabilites 23800 Notes payable 26000 Total long term Liabilites 26000 Stock Holders Equity Equipment 260000 Common stock 160000 Less: Accumulated Depreciation -121000 Retained Earnings 103400 Total Long term Assets 139000 Total Stockholders Equity 263400 Total Assets 313200 Total Liabilities and Stockholders' Equity 313200

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.