Russell Engineering provides consulting services related to land development. Below is the year-end adjusted trial balance...

 

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Russell Engineering provides consulting services related to land development. Below is the year-end adjusted trial balance of Russell Engineering. Accounts Cash Accounts Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation Accounts Payable Salaries Payable. Utilities Payable Notes Payable (due in four years) Common Stock Retained Earnings Service Revenues Salaries Expense Rent Expense RUSSELL ENGINEERING Adjusted Trial Balance December 31, 2024 Depreciation Expense Supplies Expense Advertising Expense Utilities Expense Interest Expense Totals Debits $ 5,300 4,300 2,300 6,300 113,000 42,300 18,300 7,300 8,300 13,300 12,300 2,300 $ 235,300 $ Credits 21,300 3,300 4,300 1,000 23,000 53,000 15,300 114,100 $ 235,300 Required: 1. Prepare an income statement for the year ended December 31, 2024. 2. Prepare the statement of stockholders' equitv. note that during the vear the company issued additional common stock of $10.000. 1. Prepare an income statement for the year ended December 31, 2024. 2. Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $10,00 This amount is included in the amount for Common Stock in the adjusted trial balance. 3. Prepare the classified balance sheet for the year ended December 31, 2024. Russell Engineering provides consulting services related to land development. Below is the year-end adjusted trial balance of Russell Engineering. Accounts Cash Accounts Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation Accounts Payable Salaries Payable. Utilities Payable Notes Payable (due in four years) Common Stock Retained Earnings Service Revenues Salaries Expense Rent Expense RUSSELL ENGINEERING Adjusted Trial Balance December 31, 2024 Depreciation Expense Supplies Expense Advertising Expense Utilities Expense Interest Expense Totals Debits $ 5,300 4,300 2,300 6,300 113,000 42,300 18,300 7,300 8,300 13,300 12,300 2,300 $ 235,300 $ Credits 21,300 3,300 4,300 1,000 23,000 53,000 15,300 114,100 $ 235,300 Required: 1. Prepare an income statement for the year ended December 31, 2024. 2. Prepare the statement of stockholders' equitv. note that during the vear the company issued additional common stock of $10.000. 1. Prepare an income statement for the year ended December 31, 2024. 2. Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $10,00 This amount is included in the amount for Common Stock in the adjusted trial balance. 3. Prepare the classified balance sheet for the year ended December 31, 2024.

Answer rating: 100% (QA)

Step 1 Financial Statements Financial statements are the written records of the business activities ... View the full answer