The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation is presented below: Accounts Debit Credit Cash $11,100 Accounts receivable 141,000 Prepaid rent 5,100 Supplies 25,500 Equipment 310,000 Accumulated depreciation $126,000 Accounts payable 11,100 Salaries payable 10,100 Interest payable 4,100 Notes payable (due in two years) 31,000 Common stock 210,000 Retained earnings 51,000 Service revenue 410,000 Salaries expense 310,000 Rent expense 15,500 Depreciation expense 31,000 Interest expense 4,100 Totals $853,300 $853,300 a. Prepare a statement of stockholders' equity for the year ended December 31, 2018, assuming no common stock was issued during 2018. b. Prepare a classified balance sheet as of December 31, 2018.

The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation is presented below: Accounts Debit Credit Cash $11,100 Accounts receivable 141,000 Prepaid rent 5,100 Supplies 25,500 Equipment 310,000 Accumulated depreciation $126,000 Accounts payable 11,100 Salaries payable 10,100 Interest payable 4,100 Notes payable (due in two years) 31,000 Common stock 210,000 Retained earnings 51,000 Service revenue 410,000 Salaries expense 310,000 Rent expense 15,500 Depreciation expense 31,000 Interest expense 4,100 Totals $853,300 $853,300 a. Prepare a statement of stockholders' equity for the year ended December 31, 2018, assuming no common stock was issued during 2018. b. Prepare a classified balance sheet as of December 31, 2018.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 6MC: Prior to adjustments, Barrett Companys account balances at December 31, 2019, for Accounts...

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