Please do not give solution in image format thanku Swanson Company provides the following information at the end of 2024.Cash remainingRent expense for the yearLand that has been purchasedRetained earningsUtility expense for the yearAccounts receivable from customersService revenue recognized during the yearSalary expense for the yearAccounts payable to suppliersDividends paid to shareholders during the yearCommon stock that has been issued prior to 2024Salaries owed at the end of the yearInsurance expense for the yearRetained earnings at the beginning of the yearNo common stock is issued during 2024.Complete this question by entering your answers in the tabs below.Required 1Required: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 3Ending BalanceSWANSON COMPANYStatement of Stockholders' EquityFor the year ended Dec. 31, 2024Beginning BalanceIssuance of common stockPrepare the statement of stockholders' equity for Swanson Company on December 31, 2024.CommonStock$Retained earningsUtility expense for the yearAccounts receivable from customersRetainedEarnings$< Required 1Service revenue recognized during the yearSalary expense for the yearAccounts payable to suppliersDividends paid to shareholders during the yearCommon stock that has been issued prior to 2024Salaries owed at the end of the yearInsurance expense for the yearRetained earnings at the beginning of the yearNo 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 remainingRent expense for the yearLand that has been purchasedRequired 1 Required 2 Required 3AssetsTotalStockholders'Equity0 $Complete this question by entering your answers in the tabs below.Required 3 >$3,8006,00020,00011,400Fo3,900KEM6,20032,00012,300Prepare the balance sheet for Swanson Company on December 31, 2024.SWANSON COMPANYBalance SheetDecember 31, 20241,7002,20015,0001,9002,5006,300$3,8006,00020,00011,400Required:1. Prepare the income statement for Swanson Company on December 31, 2024.2. Prepare the statement of stockholders' equity for Swanson Company on December 31, 2024.3. Prepare the balance sheet for Swanson Company on December 31, 2024.3,9006,20032,00012,3001,7002,20015,0001,9002,5006,300Liabilities Problem 1-5A (Algo) Prepare financial statements (LO1-3)Swanson Company provides the following information at the end of 2024.Cash remainingRent expense for the yearLand that has been purchased.Retained earningsUtility expense for the yearAccounts receivable from customers.Service revenue recognized during the yearSalary expense for the yearAccounts payable to suppliersDividends paid to shareholders during the yearCommon stock that has been issued prior to 2024Salaries owed at the end of the yearInsurance expense for the yearRetained earnings at the beginning of the yearNo common stock is issued during 2024.Complete this question by entering your answers in the tabs below.Required 1Required:1. Prepare the income statement for Swanson Company on December 31, 2024.2. Prepare the statement of stockholders' equity for Swanson Company on December 31, 2024.3. Prepare the balance sheet for Swanson Company on December 31, 2024.Required 2 Required 3Prepare the income statement for Swanson Company on December 31, 2024.Expenses:SWANSON COMPANYIncome StatementFor the year ended December 31, 2024Total Expenses$Required 1$3,8006,00020,00011,4003,9006,20032,00012,300001,7002,20015,0001,9002,5006,300Required 2 >

Financial statements are defined as the records that are prepared by the business entities as per…

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 >

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter2: Basic Accounting Systems: Cash Basis

Section: Chapter Questions

Problem 2.3P: P2-3 Financial statements The following amounts were taken from the accounting records of Padget...