Green Valley Company prepared the following trial balance at the end of its first year of...

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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. UNADJUSTED Account Titles Debit Credit Cash 20 Accounts receivable 13 Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Connon stock (4,000 shares) Additional paid-in capital Retained earnings Revenues (not detailed) Expenses (not detailed) 85 11 4 67 6. 82 32 Totals 164 164 Other data not yet recorded at December 31 Include a. Insurance expired during the current year, $6. b. Wages payable, $4. c. Depreclation expense for the current year, $9. d. Income tax expense. $7. Required: 1. Using the adjusted balances, prepare an Income statement for the current year. 2 Using the adjusted balances, prepare statement of stockholders' equity for the current year. The balance in retained earnings represents dividends that were declared and pald In the current year. 3. Using the adjusted balances, prepare balance sheet for the current year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the adjusted balances, prepare an income statement for the current year. GREEN VALLEY COMPANY Income Statement (in thousands of dollars) Eamings per share red 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the adjusted balances, prepare statement of stockholders' equity for the current year. The balance in retained earnings represents dividends that were declared and paid in the current year. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) GREEN VALLEY COMPANY Statement of Stockholders' Equity (in thousands of dollars) Common Stock Additional Paid-in Capital Total Stockholders' Equity Retained Earnings Beginning balances Ending balances 이 $ 이 $ < Required 1 Required 3 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the adjusted balances, prepare balance sheet for the current year. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) GREEN VALLEY COMPANY Balance Sheet (in thousands of dollars) Assets Current assets: Total current assets Net machinery Total assets Liabilities and stockholders' equity Current Liabilities: Total current liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity < Required 2 Requind3> 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. UNADJUSTED Account Titles Debit Credit Cash 20 Accounts receivable 13 Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Connon stock (4,000 shares) Additional paid-in capital Retained earnings Revenues (not detailed) Expenses (not detailed) 85 11 4 67 6. 82 32 Totals 164 164 Other data not yet recorded at December 31 Include a. Insurance expired during the current year, $6. b. Wages payable, $4. c. Depreclation expense for the current year, $9. d. Income tax expense. $7. Required: 1. Using the adjusted balances, prepare an Income statement for the current year. 2 Using the adjusted balances, prepare statement of stockholders' equity for the current year. The balance in retained earnings represents dividends that were declared and pald In the current year. 3. Using the adjusted balances, prepare balance sheet for the current year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the adjusted balances, prepare an income statement for the current year. GREEN VALLEY COMPANY Income Statement (in thousands of dollars) Eamings per share red 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the adjusted balances, prepare statement of stockholders' equity for the current year. The balance in retained earnings represents dividends that were declared and paid in the current year. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) GREEN VALLEY COMPANY Statement of Stockholders' Equity (in thousands of dollars) Common Stock Additional Paid-in Capital Total Stockholders' Equity Retained Earnings Beginning balances Ending balances 이 $ 이 $ < Required 1 Required 3 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the adjusted balances, prepare balance sheet for the current year. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) GREEN VALLEY COMPANY Balance Sheet (in thousands of dollars) Assets Current assets: Total current assets Net machinery Total assets Liabilities and stockholders' equity Current Liabilities: Total current liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity < Required 2 Requind3>

Answer rating: 100% (QA)

Unadjusted trial balance Explanation Debit Credit cash 20 Accounts receivables 13 Prepaid insurance ... View the full answer