Wilderness Guide Services, Inc. performs adjusting entries every month, but closes its accounts only at year-end....

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Wilderness Guide Services, Inc. performs adjusting entries every month, but closes its accounts only at year-end. The company's year. end adjusted trial balance dated December 31, current year, is as follows Cash Accounts receivable Camping supplies Unexpired insurance policies Equipment Accumulated depreciation: equipment Notes gayable (due 4/1/next year) Accounts payable Capital stock Retained earnings Dividends MILDERNESS GUIDE SERVICES, INC. Adjusted Trial Balance December 31, Current Year Guide revenue earned Salary expense Camping supply expense Insurance expense Depreciation expenses equipment Interest expense Reg A1 Reg A2 $ Reg A3 12,200 31,000 7,900 2,400 70,000 (Hint Unprontable companies have no income taxes expense) e-1. Prepare an income statement for the year ended December 31, current year 8-2. Prepare a statement of retained earnings for the year ended December 31, current year a-3. Prepare the company's balance sheet dated December 31, current year b. Does the company appear to be liquid? c. Has the company been profitable in the past? Reg 1,000 67,500 1,200 9,600 5,000 1,700 $ 229,500 Answer is not complete. Complete this question by entering your answers in the tabs below. $ 60,000 18,000 9,500 25,000 15,000 102,000 $ 229,500 Answer is not complete. Complete this question by entering your answers in the tabs below. Reg A1 Revenues: Reg A2 Guide revenue earned Expenses: Prepare an income statement for the year ended December 31, current year. WILDERNESS GUIDE SERVICES, INC. Income Statement For the Year Ended December 31, Current Year Req A3 Net loss Camping supply expense Insurance expense Depreciation expense equipment Interest expense Salary expense Unexpired insurance policies Req B ⒸUEVES 102.000 063000 Ⓒ • X 3 $ Reg C HA1 1,200 9,600 5,000 1,700 87,500 100 0 105,000 $(3.000) Reg A2 > Answer is not complete. Complete this question by entering your answers in the tabs below. Reg Al Reg A2 Prepare a statement of retained earnings for the year ended December 31, current year. WILDERNESS GUIDE SERVICES, INC. Statement of Retained Earnings Reg A3 For the Year Ended December 31, Current Year Retaned samnings (1) $15.000 Less Net los Leis: Dividends Retained earnings (1201) O O 3.000 1,000 11.000 Red B Req A1 Res C Reg A3 > Complete this question by entering your answers in the tabs below. Reg A2 Reg B Prepare the company's balance sheet dated December 31, current year. (Amounts to be deducted should be indicated by a minus sign.) Reg A1 Total sabates WILDERNESS GUIDE SERVICES, INC. Balance Sheet December 31, Current Year Assets Cash Accounts receivable Camping supplies Unexpired insurance policies Equipment Accumulated depreciation equipment Total assets Liabilities Notes payable (due 4/1/Next Year) Accounts payable Req A3 Retained earnings Capital stock Stockholders' equity Total stockholders equity Total läbibes and stockholders equity ♡ 3333 O >> 30 O $ < Req A2 Reg C www 70,000 TALLER $12,200 31,000 7,900 2,400 70,000 $ 123,500 $ 18,000 9.500 01 $ 27,500 000 $ 11,000 25,000 0 $ 35,000 $63.500 Req B > Wilderness Guide Services, Inc. performs adjusting entries every month, but closes its accounts only at year-end. The company's year. end adjusted trial balance dated December 31, current year, is as follows Cash Accounts receivable Camping supplies Unexpired insurance policies Equipment Accumulated depreciation: equipment Notes gayable (due 4/1/next year) Accounts payable Capital stock Retained earnings Dividends MILDERNESS GUIDE SERVICES, INC. Adjusted Trial Balance December 31, Current Year Guide revenue earned Salary expense Camping supply expense Insurance expense Depreciation expenses equipment Interest expense Reg A1 Reg A2 $ Reg A3 12,200 31,000 7,900 2,400 70,000 (Hint Unprontable companies have no income taxes expense) e-1. Prepare an income statement for the year ended December 31, current year 8-2. Prepare a statement of retained earnings for the year ended December 31, current year a-3. Prepare the company's balance sheet dated December 31, current year b. Does the company appear to be liquid? c. Has the company been profitable in the past? Reg 1,000 67,500 1,200 9,600 5,000 1,700 $ 229,500 Answer is not complete. Complete this question by entering your answers in the tabs below. $ 60,000 18,000 9,500 25,000 15,000 102,000 $ 229,500 Answer is not complete. Complete this question by entering your answers in the tabs below. Reg A1 Revenues: Reg A2 Guide revenue earned Expenses: Prepare an income statement for the year ended December 31, current year. WILDERNESS GUIDE SERVICES, INC. Income Statement For the Year Ended December 31, Current Year Req A3 Net loss Camping supply expense Insurance expense Depreciation expense equipment Interest expense Salary expense Unexpired insurance policies Req B ⒸUEVES 102.000 063000 Ⓒ • X 3 $ Reg C HA1 1,200 9,600 5,000 1,700 87,500 100 0 105,000 $(3.000) Reg A2 > Answer is not complete. Complete this question by entering your answers in the tabs below. Reg Al Reg A2 Prepare a statement of retained earnings for the year ended December 31, current year. WILDERNESS GUIDE SERVICES, INC. Statement of Retained Earnings Reg A3 For the Year Ended December 31, Current Year Retaned samnings (1) $15.000 Less Net los Leis: Dividends Retained earnings (1201) O O 3.000 1,000 11.000 Red B Req A1 Res C Reg A3 > Complete this question by entering your answers in the tabs below. Reg A2 Reg B Prepare the company's balance sheet dated December 31, current year. (Amounts to be deducted should be indicated by a minus sign.) Reg A1 Total sabates WILDERNESS GUIDE SERVICES, INC. Balance Sheet December 31, Current Year Assets Cash Accounts receivable Camping supplies Unexpired insurance policies Equipment Accumulated depreciation equipment Total assets Liabilities Notes payable (due 4/1/Next Year) Accounts payable Req A3 Retained earnings Capital stock Stockholders' equity Total stockholders equity Total läbibes and stockholders equity ♡ 3333 O >> 30 O $ < Req A2 Reg C www 70,000 TALLER $12,200 31,000 7,900 2,400 70,000 $ 123,500 $ 18,000 9.500 01 $ 27,500 000 $ 11,000 25,000 0 $ 35,000 $63.500 Req B >

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1 Income Statement for the Year Ended December 31 Current Year WILDERNESS GUIDE SERVICES INC Income Statement For the Year Ended December 31 Current Y... View the full answer