5 Prepaid insurance 6 Interest expense 7 Accounts payable. 8 9 Wages payable Cash 1 2...

 

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5 Prepaid insurance 6 Interest expense 7 Accounts payable. 8 9 Wages payable Cash 1 2 Stark company has the following adjusted accounts with normal balances at its December 31 year-end. 3 4 Notes payable 10 Wages expense 11 Insurance expense 12 Common stock A 13 Services revenue 14 Accumulated depreciation-Buildings 15 Accounts receivable 16 Utilities expense 17 Interest payable 18 Unearned revenue 19 Supplies expense 20 Buildings 21 Dividends B 22 Depreciation expense-Buildings 23 Supplies 24 Retained earnings $11,000 2,500 500 1,500 400 10,000 7,500 1,800 10,000 20,000 15,000 4,000 1,300 100 800 200 40,000 3,000 2,000 800 14,800 C 25 26 Prepare the income statement for the year ended December 31. 27 D 28 (Use cells A4 to B24 from the given information to complete this question. Formulas for revenues and 29 expenses must return positive values.) 30 E A B 26 Prepare the income statement for the year ended December 31. 27 45 44 45 28 (Use cells A4 to B24 from the given information to complete this question. Formulas for revenues and 29 expenses must return positive values.) 30 31 32 33 34 35 Expenses 36 37 38 39 40 41 42 Total expenses 43 STARK COMPANY Income Statement For Year Ended December 31 48 (Formulas for dividends and losses must return negative values.) 49 50 STARK COMPANY 51 Statement of Retained Earnings 52 For Year Ended December 31 53 Retained earnings, December 31 prior year end 54 55 56 C 57 Retained earnings, December 31 current year end 58 D 59 Prepare the balance sheet at December 31. 60 61 (Formulas for any items to be subtracted must return negative values.) 62 E 45 Prepare the statement of retained earnings for the year ended December 31. The Retained Earnings account balance was $14,800 on 46 December 31 of the prior year. 47 " F G 62 63 64 65 66 67 68 69 RENNKRAK 70 71 72 73 Total assets 74 75 76 77 78 79 80 Total liabilities 81 82 83 84 Total equity 85 Total liabilities and equity 86 87 STARK COMPANY Balance Sheet December 31 Assets Liabilities Equity 5 Prepaid insurance 6 Interest expense 7 Accounts payable. 8 9 Wages payable Cash 1 2 Stark company has the following adjusted accounts with normal balances at its December 31 year-end. 3 4 Notes payable 10 Wages expense 11 Insurance expense 12 Common stock A 13 Services revenue 14 Accumulated depreciation-Buildings 15 Accounts receivable 16 Utilities expense 17 Interest payable 18 Unearned revenue 19 Supplies expense 20 Buildings 21 Dividends B 22 Depreciation expense-Buildings 23 Supplies 24 Retained earnings $11,000 2,500 500 1,500 400 10,000 7,500 1,800 10,000 20,000 15,000 4,000 1,300 100 800 200 40,000 3,000 2,000 800 14,800 C 25 26 Prepare the income statement for the year ended December 31. 27 D 28 (Use cells A4 to B24 from the given information to complete this question. Formulas for revenues and 29 expenses must return positive values.) 30 E A B 26 Prepare the income statement for the year ended December 31. 27 45 44 45 28 (Use cells A4 to B24 from the given information to complete this question. Formulas for revenues and 29 expenses must return positive values.) 30 31 32 33 34 35 Expenses 36 37 38 39 40 41 42 Total expenses 43 STARK COMPANY Income Statement For Year Ended December 31 48 (Formulas for dividends and losses must return negative values.) 49 50 STARK COMPANY 51 Statement of Retained Earnings 52 For Year Ended December 31 53 Retained earnings, December 31 prior year end 54 55 56 C 57 Retained earnings, December 31 current year end 58 D 59 Prepare the balance sheet at December 31. 60 61 (Formulas for any items to be subtracted must return negative values.) 62 E 45 Prepare the statement of retained earnings for the year ended December 31. The Retained Earnings account balance was $14,800 on 46 December 31 of the prior year. 47 " F G 62 63 64 65 66 67 68 69 RENNKRAK 70 71 72 73 Total assets 74 75 76 77 78 79 80 Total liabilities 81 82 83 84 Total equity 85 Total liabilities and equity 86 87 STARK COMPANY Balance Sheet December 31 Assets Liabilities Equity

Answer rating: 100% (QA)

To prepare the financial statements for Stark Company we will need to categorize the accounts provided into the income statement the statement of reta... View the full answer