A . Prepare an income statement for the year ended dec . 3 1 2 0 2
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Question:
A Prepare an income statement for the year ended dec
B Prepare a retianed earnings statement for the year ended dec.
C Prepare the stock holders equity section of the dec balance sheet
Transcribed Image Text:
Cashgrabber, Inc. Adjusted Trial Balance at the company's year end December 31, 2023 Accounts Payable Cashgrabber, Inc. Income Statement for the gear ended December 31, 2023 Dr Cr 285,020 Accounts Receivable 320,600 Accrued Expenses Payable 52,000 Advances to employees 31,200 Accumulated Depreciation Building 900,000 Accumulated Depreciation Equipment 112,000 Allowance for doubtful accounts 11,000 Bonds Payable - Due 2028 620,000 Bonds Premium 26,000 Building 2,250,000 Cash 501,200 Common Stock ($1 par value, 120,000 issued) 120,000 Cost of Goods Sold 3,150,000 Dividends payable 24.000 Equipment 651,000 Franchise (unamortized cost) 367,000 General & Administrative Expenses 2,339,280 Goodwill 111,000 Held to Maturity Securities 146,000 Income tax allocable to Income from contir 325,070 Inventory-Ending 492,000 Land 362,000 Net sales Mortgage Note Payable ($120,000 due in 2024) Paid in Capital in excess of par- Common Paid in Capital in excess of par - Preferred Paid in Capital from Treasury Stock 9,020,500 799,400 234,000 27,000 4,100 Patent Unamortized cost 373,000 Preferred Stock (2x, $100 par value, 5,000 shrs issued & 500,000 Prepaid Expenses 72,000 Retained earnings - Dec. 31, 2023 reduced by $10,000 Pref. dividends and $52,000 Common dividends Salaries Payable 1,776,510 61,000 Securities Fair value Adj. Trading Securitie 32,000 Selling expenses 2,706,150 Trading Securities 216,000 Treasury Stock - Common (25,000 shrs) Unearned revenue 178,030 51.000 Additional information 1 Net income for the sear ended December 31, 2023 is $500,000 2 The January 1, 2023 balance in Retained Earnings is $1,838,510 Cashgrabber, Inc. Retain Earnings Statement for the gear ended December 31, 2023 Stockholders' Equity Cashgrabber, Inc. Adjusted Trial Balance at the company's year end December 31, 2023 Accounts Payable Cashgrabber, Inc. Income Statement for the gear ended December 31, 2023 Dr Cr 285,020 Accounts Receivable 320,600 Accrued Expenses Payable 52,000 Advances to employees 31,200 Accumulated Depreciation Building 900,000 Accumulated Depreciation Equipment 112,000 Allowance for doubtful accounts 11,000 Bonds Payable - Due 2028 620,000 Bonds Premium 26,000 Building 2,250,000 Cash 501,200 Common Stock ($1 par value, 120,000 issued) 120,000 Cost of Goods Sold 3,150,000 Dividends payable 24.000 Equipment 651,000 Franchise (unamortized cost) 367,000 General & Administrative Expenses 2,339,280 Goodwill 111,000 Held to Maturity Securities 146,000 Income tax allocable to Income from contir 325,070 Inventory-Ending 492,000 Land 362,000 Net sales Mortgage Note Payable ($120,000 due in 2024) Paid in Capital in excess of par- Common Paid in Capital in excess of par - Preferred Paid in Capital from Treasury Stock 9,020,500 799,400 234,000 27,000 4,100 Patent Unamortized cost 373,000 Preferred Stock (2x, $100 par value, 5,000 shrs issued & 500,000 Prepaid Expenses 72,000 Retained earnings - Dec. 31, 2023 reduced by $10,000 Pref. dividends and $52,000 Common dividends Salaries Payable 1,776,510 61,000 Securities Fair value Adj. Trading Securitie 32,000 Selling expenses 2,706,150 Trading Securities 216,000 Treasury Stock - Common (25,000 shrs) Unearned revenue 178,030 51.000 Additional information 1 Net income for the sear ended December 31, 2023 is $500,000 2 The January 1, 2023 balance in Retained Earnings is $1,838,510 Cashgrabber, Inc. Retain Earnings Statement for the gear ended December 31, 2023 Stockholders' Equity
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