Refer to E4-20. Data From in E4-20 Green Valley Company prepared the following trial balance at the

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Refer to E4-20.


Data From in E4-20

Green Valley Company prepared the following trial balance at the end of its first year of operations ending December 31. To simplify the case, the amounts given are in thousands of dollars. The “Ref.” column is for the reference letter of the adjusting entry effect.

Other data not yet recorded at December 31 include
a. Insurance expired during the current year, $6.
b. Wages payable, $4.
c. Depreciation expense for the current year, $9.
d. Income tax expense, $7.


Required:
Using the adjusted balances for Green Valley Company in E4-20, prepare an income statement, statement of stockholders’ equity, and balance sheet for the current year.

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Financial Accounting

ISBN: 9781264229734

11th Edition

Authors: Robert Libby, Patricia Libby, Frank Hodge

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