Question 5 Tries remaining: 1 Marked out of 0.17 Constructing Financial Statements from Account Data Barth...

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Question 5 Tries remaining: 1 Marked out of 0.17 Constructing Financial Statements from Account Data Barth Company reports the following year-end account balances at December 31, 2011. Prepare the 2011 income statement and the balance sheet as of December 31, 2011. Accounts payable Accounts receivable $4,000 7,500 Inventory $9,000 Bonds payable, long-term 50,000 Land 20,000 Goodwill 2,000 Buildings Cash 37,750 Retained earnings 15,000 Common stock 12,000 Sales revenue 100,000 37,500 Supplies inventory Cost of goods sold Equipment 45,000 Supplies expense 17,500 Wages expense 750 1,500 10,000 Barth Company Income Statement For Year Ended December 31, 2011 Expenses $ 0 0 0 0 Total expenses Net income 0 $ 0 Barth Company Balance Sheet December 31, 2011 Assets Cash $ 0 0 Liabilities and equity 0 $ 0 Total current assets 0 Total liabilities 0 0 0 Total equity 0 Total liabilities and equity bsc Total assets $ 0 OO 0 0 0 0 0 $ 0 Question 5 Tries remaining: 1 Marked out of 0.17 Constructing Financial Statements from Account Data Barth Company reports the following year-end account balances at December 31, 2011. Prepare the 2011 income statement and the balance sheet as of December 31, 2011. Accounts payable Accounts receivable $4,000 7,500 Inventory $9,000 Bonds payable, long-term 50,000 Land 20,000 Goodwill 2,000 Buildings Cash 37,750 Retained earnings 15,000 Common stock 12,000 Sales revenue 100,000 37,500 Supplies inventory Cost of goods sold Equipment 45,000 Supplies expense 17,500 Wages expense 750 1,500 10,000 Barth Company Income Statement For Year Ended December 31, 2011 Expenses $ 0 0 0 0 Total expenses Net income 0 $ 0 Barth Company Balance Sheet December 31, 2011 Assets Cash $ 0 0 Liabilities and equity 0 $ 0 Total current assets 0 Total liabilities 0 0 0 Total equity 0 Total liabilities and equity bsc Total assets $ 0 OO 0 0 0 0 0 $ 0

Answer rating: 100% (QA)

Lets start by preparing the income statement for Barth Company for the year ended December 31 2011 b... View the full answer