These accounts and balances are taken from the financial statements of Concord Corporation for the year...
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These accounts and balances are taken from the financial statements of Concord Corporation for the year ended December 31, 2022. Retained earnings, January 1 $30,000 Utilities expense 2,900 Equipment 72,500 Accounts payable 15,200 Income tax payable 3,300 Cash 13,900 Salaries payable 3,000 Common shares, January 1 13,000 Dividends declared 8,500 Service revenue 70,000 Prepaid insurance 8,500 Repair and maintenance expense 4,100 Depreciation expense 3,800 Accounts receivable 5,700 Insurance expense 4,200 Salaries expense 37,000 Income tax expense 4,700 Accumulated depreciation-equipment 12,100 Concord issued $19,200 of common shares during the year. Prepare an income statement for the year ended December 31, 2022. CONCORD CORPORATION Income Statement %24 %24 > > > Prepare an a statement of changes in equity for the year ended December 31, 2022. (If an amount reduces the account balance then enter with negative sign eg. -45 or parentheses eg. (45).) CONCORD CORPORATION Statement of Changes in Equity Common Shares Retained Earnings Total Equity %24 > > > > > Prepare classified statement of financial position at December 31, 2022. (List Current Assets in order of liquidity.) CONCORD CORPORATION Statement of Financial Position Assets 24 > > Liabilities and Shareholders' Equity 24 24 %24 > > > > These accounts and balances are taken from the financial statements of Concord Corporation for the year ended December 31, 2022. Retained earnings, January 1 $30,000 Utilities expense 2,900 Equipment 72,500 Accounts payable 15,200 Income tax payable 3,300 Cash 13,900 Salaries payable 3,000 Common shares, January 1 13,000 Dividends declared 8,500 Service revenue 70,000 Prepaid insurance 8,500 Repair and maintenance expense 4,100 Depreciation expense 3,800 Accounts receivable 5,700 Insurance expense 4,200 Salaries expense 37,000 Income tax expense 4,700 Accumulated depreciation-equipment 12,100 Concord issued $19,200 of common shares during the year. Prepare an income statement for the year ended December 31, 2022. CONCORD CORPORATION Income Statement %24 %24 > > > Prepare an a statement of changes in equity for the year ended December 31, 2022. (If an amount reduces the account balance then enter with negative sign eg. -45 or parentheses eg. (45).) CONCORD CORPORATION Statement of Changes in Equity Common Shares Retained Earnings Total Equity %24 > > > > > Prepare classified statement of financial position at December 31, 2022. (List Current Assets in order of liquidity.) CONCORD CORPORATION Statement of Financial Position Assets 24 > > Liabilities and Shareholders' Equity 24 24 %24 > > > >
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ANSWER CONCORD CORPORATION CONCORD CORPORATION Income Statement Statement of Financial Position For ... View the full answer
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Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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