Problem 1-5A (Algo) Prepare financial statements (LO1-3) Swanson Company provides the following information at the end of 2024. Cash remaining Rent expense for the year Land that has been purchased Retained earnings Utility expense for the year Accounts receivable from customers Service revenue recognized during the year Salary expense for the year. Accounts payable to suppliers Dividends paid to shareholders during the year Common stock that has been issued prior to 2024 Salaries owed at the end of the year Insurance expense for the year Retained earnings at the beginning of the year No common stock is issued during 2024. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the income statement for Swanson Company on December 31, 2024. Expenses: Required: 1. Prepare the income statement for Swanson Company on December 31, 2024. 2. Prepare the statement of stockholders' equity for Swanson Company on December 31, 2024. 3. Prepare the balance sheet for Swanson Company on December 31, 2024. SWANSON COMPANY Income Statement For the year ended December 31, 2024 Total Expenses $ Required 1 $3,800 6,000 0 0 20,000 11,400 3,900 6,200 32,000 12,300 1,700 2,200 15,000 1,900 2,500 6,300 Required 2 >
Problem 1-5A (Algo) Prepare financial statements (LO1-3) Swanson Company provides the following information at the end of 2024. Cash remaining Rent expense for the year Land that has been purchased Retained earnings Utility expense for the year Accounts receivable from customers Service revenue recognized during the year Salary expense for the year. Accounts payable to suppliers Dividends paid to shareholders during the year Common stock that has been issued prior to 2024 Salaries owed at the end of the year Insurance expense for the year Retained earnings at the beginning of the year No common stock is issued during 2024. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the income statement for Swanson Company on December 31, 2024. Expenses: Required: 1. Prepare the income statement for Swanson Company on December 31, 2024. 2. Prepare the statement of stockholders' equity for Swanson Company on December 31, 2024. 3. Prepare the balance sheet for Swanson Company on December 31, 2024. SWANSON COMPANY Income Statement For the year ended December 31, 2024 Total Expenses $ Required 1 $3,800 6,000 0 0 20,000 11,400 3,900 6,200 32,000 12,300 1,700 2,200 15,000 1,900 2,500 6,300 Required 2 >
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
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 7E: Multiple-Step and Single-Step Income Statements, and Statement of Comprehensive Income On December...
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![Swanson Company provides the following information at the end of 2024.
Cash remaining
Rent expense for the year
Land that has been purchased
Retained earnings
Utility expense for the year
Accounts receivable from customers
Service revenue recognized during the year
Salary expense for the year
Accounts payable to suppliers
Dividends paid to shareholders during the year
Common stock that has been issued prior to 2024
Salaries owed at the end of the year
Insurance expense for the year
Retained earnings at the beginning of the year
No common stock is issued during 2024.
Complete this question by entering your answers in the tabs below.
Required 1
Required:
1. Prepare the income statement for Swanson Company on December 31, 2024.
2. Prepare the statement of stockholders' equity for Swanson Company on December 31, 2024.
3. Prepare the balance sheet for Swanson Company on December 31, 2024.
Required 2 Required 3
Ending Balance
SWANSON COMPANY
Statement of Stockholders' Equity
For the year ended Dec. 31, 2024
Beginning Balance
Issuance of common stock
Prepare the statement of stockholders' equity for Swanson Company on December 31, 2024.
Common
Stock
$
Retained earnings
Utility expense for the year
Accounts receivable from customers
Retained
Earnings
$
< Required 1
Service revenue recognized during the year
Salary expense for the year
Accounts payable to suppliers
Dividends paid to shareholders during the year
Common stock that has been issued prior to 2024
Salaries owed at the end of the year
Insurance expense for the year
Retained earnings at the beginning of the year
No common stock is issued during 2024.
Problem 1-5A (Algo) Prepare financial statements (LO1-3)
Swanson Company provides the following information at the end of 2024.
Cash remaining
Rent expense for the year
Land that has been purchased
Required 1 Required 2 Required 3
Assets
Total
Stockholders'
Equity
0 $
Complete this question by entering your answers in the tabs below.
Required 3 >
$3,800
6,000
20,000
11,400
Fo
3,900
KEM
6,200
32,000
12,300
Prepare the balance sheet for Swanson Company on December 31, 2024.
SWANSON COMPANY
Balance Sheet
December 31, 2024
1,700
2,200
15,000
1,900
2,500
6,300
$3,800
6,000
20,000
11,400
Required:
1. Prepare the income statement for Swanson Company on December 31, 2024.
2. Prepare the statement of stockholders' equity for Swanson Company on December 31, 2024.
3. Prepare the balance sheet for Swanson Company on December 31, 2024.
3,900
6,200
32,000
12,300
1,700
2,200
15,000
1,900
2,500
6,300
Liabilities](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F219aee74-c2e7-4b0f-b056-c3621e072259%2F8b81d387-4732-41cf-9f80-3ac46006243f%2F9tvg4dy_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Swanson Company provides the following information at the end of 2024.
Cash remaining
Rent expense for the year
Land that has been purchased
Retained earnings
Utility expense for the year
Accounts receivable from customers
Service revenue recognized during the year
Salary expense for the year
Accounts payable to suppliers
Dividends paid to shareholders during the year
Common stock that has been issued prior to 2024
Salaries owed at the end of the year
Insurance expense for the year
Retained earnings at the beginning of the year
No common stock is issued during 2024.
Complete this question by entering your answers in the tabs below.
Required 1
Required:
1. Prepare the income statement for Swanson Company on December 31, 2024.
2. Prepare the statement of stockholders' equity for Swanson Company on December 31, 2024.
3. Prepare the balance sheet for Swanson Company on December 31, 2024.
Required 2 Required 3
Ending Balance
SWANSON COMPANY
Statement of Stockholders' Equity
For the year ended Dec. 31, 2024
Beginning Balance
Issuance of common stock
Prepare the statement of stockholders' equity for Swanson Company on December 31, 2024.
Common
Stock
$
Retained earnings
Utility expense for the year
Accounts receivable from customers
Retained
Earnings
$
< Required 1
Service revenue recognized during the year
Salary expense for the year
Accounts payable to suppliers
Dividends paid to shareholders during the year
Common stock that has been issued prior to 2024
Salaries owed at the end of the year
Insurance expense for the year
Retained earnings at the beginning of the year
No common stock is issued during 2024.
Problem 1-5A (Algo) Prepare financial statements (LO1-3)
Swanson Company provides the following information at the end of 2024.
Cash remaining
Rent expense for the year
Land that has been purchased
Required 1 Required 2 Required 3
Assets
Total
Stockholders'
Equity
0 $
Complete this question by entering your answers in the tabs below.
Required 3 >
$3,800
6,000
20,000
11,400
Fo
3,900
KEM
6,200
32,000
12,300
Prepare the balance sheet for Swanson Company on December 31, 2024.
SWANSON COMPANY
Balance Sheet
December 31, 2024
1,700
2,200
15,000
1,900
2,500
6,300
$3,800
6,000
20,000
11,400
Required:
1. Prepare the income statement for Swanson Company on December 31, 2024.
2. Prepare the statement of stockholders' equity for Swanson Company on December 31, 2024.
3. Prepare the balance sheet for Swanson Company on December 31, 2024.
3,900
6,200
32,000
12,300
1,700
2,200
15,000
1,900
2,500
6,300
Liabilities
![Problem 1-5A (Algo) Prepare financial statements (LO1-3)
Swanson Company provides the following information at the end of 2024.
Cash remaining
Rent expense for the year
Land that has been purchased.
Retained earnings
Utility expense for the year
Accounts receivable from customers.
Service revenue recognized during the year
Salary expense for the year
Accounts payable to suppliers
Dividends paid to shareholders during the year
Common stock that has been issued prior to 2024
Salaries owed at the end of the year
Insurance expense for the year
Retained earnings at the beginning of the year
No common stock is issued during 2024.
Complete this question by entering your answers in the tabs below.
Required 1
Required:
1. Prepare the income statement for Swanson Company on December 31, 2024.
2. Prepare the statement of stockholders' equity for Swanson Company on December 31, 2024.
3. Prepare the balance sheet for Swanson Company on December 31, 2024.
Required 2 Required 3
Prepare the income statement for Swanson Company on December 31, 2024.
Expenses:
SWANSON COMPANY
Income Statement
For the year ended December 31, 2024
Total Expenses
$
Required 1
$3,800
6,000
20,000
11,400
3,900
6,200
32,000
12,300
0
0
1,700
2,200
15,000
1,900
2,500
6,300
Required 2 >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F219aee74-c2e7-4b0f-b056-c3621e072259%2F8b81d387-4732-41cf-9f80-3ac46006243f%2Ftktvzkb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 1-5A (Algo) Prepare financial statements (LO1-3)
Swanson Company provides the following information at the end of 2024.
Cash remaining
Rent expense for the year
Land that has been purchased.
Retained earnings
Utility expense for the year
Accounts receivable from customers.
Service revenue recognized during the year
Salary expense for the year
Accounts payable to suppliers
Dividends paid to shareholders during the year
Common stock that has been issued prior to 2024
Salaries owed at the end of the year
Insurance expense for the year
Retained earnings at the beginning of the year
No common stock is issued during 2024.
Complete this question by entering your answers in the tabs below.
Required 1
Required:
1. Prepare the income statement for Swanson Company on December 31, 2024.
2. Prepare the statement of stockholders' equity for Swanson Company on December 31, 2024.
3. Prepare the balance sheet for Swanson Company on December 31, 2024.
Required 2 Required 3
Prepare the income statement for Swanson Company on December 31, 2024.
Expenses:
SWANSON COMPANY
Income Statement
For the year ended December 31, 2024
Total Expenses
$
Required 1
$3,800
6,000
20,000
11,400
3,900
6,200
32,000
12,300
0
0
1,700
2,200
15,000
1,900
2,500
6,300
Required 2 >
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