Question: al a trial Following are the accounts and balances from the adjusted trial balance of Stark Company. Prepare the (1) income statement and (2) statement

al a trial Following are the accounts and balances from the adjusted trial balance of Stark Company. Prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31 and (3) balance sheet at December 31. The Stark, Capital account balance was $24,800 on December 31 of the prior year. Notes payable.... Prepaid insurance $11,000 2,500 Accumulated depreciation-Buildings... $15,000 Accounts receivable.. 4,000 Interest expense 500 Utilities expense 1,300 Accounts payable 1,500 Interest payable. 100 Wages payable 400 Unearned revenue 800 Cash 10,000 Supplies expense 200 Wages expense 7,500 Buildings..... 40,000 Insurance expense 1,800 Stark, Withdrawals 3,000 Stark, Capital 24,800 Depreciation expense-Buildings 2,000 Services revenue 20,000 Supplies... 800

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!