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For each of the following, fill in the blank with either Increase or Decrease 1 2 4 A debit Acredit A debit A credit A debit A credit to Accounts Payable to Prepaid Expenses to Retained Earnings to Utilities Expense to Dividends to Accounts Receivable would decrease the account. would decrease the account. would increase the account. would increase the account. would increase the account. would decrease the account. 6 * computer or Using the normal balances for Gus Company...
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Given the adjusted trial balance shown below:
1) Prepare a multi-step income statement
2) a statement of retained earnings
3) Prepare a classified balance sheet in horizontal format
Dr 155,000 35,000 3,750 6,000 2,000 7,000 10,000 100,000 54,000 25,000 10,000 75,000 Big, Inc. Adjusted Trial Balance For the year ended 12/31/16 Account Cash Accounts Receivable 5 Allowance for Doubtful Accounts Prepaid Insurance Prepaid Property Taxes Inventory Loan Receivable Building A/D - Building Equipment A/D - Equipment Investments - Accounts Payable...
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Conduct a multi step income statement, statement of retained
earnings, and classified balance sheet for the following
Adjusted Trial Balance December 31, 2017 DEBIT 8,000 4,005 CREDIT 500 1001 80 22.000 150 4,000 1,800 4001 Cash Accounts Receivable Allowance for Doubtful Accounts Short term Note Receivable Interest Receivable Supplies Inventory Prepaid Expenses Equipment Accumulated Depreciation Copyrights Accounts Payable Interest Payable Unearned Revenue Long Term Note Payable Common Stock Paid-in-Capital In Excess of Par - CS Retained Earnings (1/1/17) Dividends Sales...
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prepare: Use the following accounts and balances to L. Multi-step Income Statement 2. Statement of Retained Earnings 3. Classified Balance Sheet Account Amount Account Amount Accounts payable S38 500 Loss on sale of equipment S 20,000 Accounts receivable 450,000 Marketable securities $ 30,000 8000Miscellaneous administrative expense S 6,000 depreciation-office equipmentS Accum, de Advertising expense Allowance for Doubtful Accounts Bonds Payable epreciation-store equipment$ 87500 S 420,000 Note payable (due June 2019) $9,000 payable (final payment due 2022) 5 36,000 15,000Notes Receivable...
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Preparation of Financial Statements Use the following information to prepare a multi-step Statement of Comprehensive Income, a Statement of Changes in Shareholders Equity, and a classified Statement of Financial Position. Charles Corporation Adjusted Trial Balance December 31, 2017 Debit Credit $ 33,400 87,400 Cash 90,000 7,000 170,000 Merchandise Inventory.. Store Supplies Store Equipment. Accumulated Depreciation-Store Equipment Delivery Equipment Accumulated Depreciation-Delivery Equipment Notes Payable Accounts Payable Common Shares.... Retained Earnings. Sales Sales Return and Allowances Cost of Goods Sold. 54,000 96,000...
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Prepare a Trial Balance, Multi Step Income
Statement, Retained Earnings Statement, and Classified Balance
Sheet
the
values needed are all the way on the left in the photo. i started
the trial balance (the green chart) but could not get both sides to
equal.
ACCT 251 EXCEL ASSIGNMENT - PREPARING FINANCIAL STATEMENTS IN EXCEL (see instructions tab for detailed instructions) Prepare a multi-step income statement: Prepare a retained earnings statement: Prepare a classified balance sheet: 1,001,360 101,360 591,680 Service Revenue...
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3. Prepare Tristan Electronics's multi-step income statement for year ended March 31, 2018 Tristan Electronics Company Adjusted Trial Balance March 31, 2018 Account Title Cash Balance Debit Credit 10,000 38,400 45,600 Accounts Receivable Merchandise Inventory Office Supplies Equipment Depreciation Expense-Equipment (Administrative) Interest Receivable 5,900 131,500 1,315 300 Interest Payable 1,400 16,500 13,000 Accounts Payable Unearned Revenue Salaries Payable Notes Payable, long-term Estimated Returns Inventory Accumulated Depreciation-Equipment Refunds Payable 2,700 46,000 1,050 37,815 3,500 1,400 Interest Payable Accounts Payable Unearned Revenue...
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PREPARE A MULTI STEP INCOME STATEMENT FROM INFORMATION BELOW, IF
SOMETHING HERE DOESNT BELONG IN THE STATEMENT, THEN JUST IGNORE
IT.
Cash 990,000
Common Stock 10,000
Service Revenue 355,000
Accounts Receivable 65,000
Additional Paid in Capital 390,000
Notes Payable 350,000
Interest Expense 29,167
Interest Payable 29,167
Prepaid Rent 24,000
Equipment 76,000
Depreciation 10,000
Accumulated Depreciation 10,000
Supplies 5,000
Unearned Service Revenue 30,000
Misc Expense 50,000
prepaid insurance 12,000
insurance expense 12,000
accounts payable 6,000
unrealized gain in investment 6,000
unrealized...
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Goal: Practice creating a multi-step income statement in good form. Information: Management would like you to create Terry's financial statements, beginning with the income statement. In addition to creating the financial statements, Terry's management has asked you to calculate the following financial ratios: • Profit Margin (NI / Net Sales) • Earnings per Share (NI / Common Shares Outstanding) Assignment: 1. Create a multi-step income statement in good form for Terry Co. for Year 2. The following information can be...
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1) Use the following accounts to prepare a year end multi step income statement and a classified balance sheet for the Jones Company. Administrative expenses Accumulated depreciation Equipment Cash 23000 30000 45000 6000 15000 30000 500 12000 400 common stock Cost of merchandise sold Interest expense Rent Revenue Unearned fees Supplies Prepaid Insurance Accounts Receivable Bonds payable Sales Selling Expenses Retained earnings 450 500 4500 10000 84000 2000 1050 3) Use the following accounts to prepare a year end multi-step...
build statements
For each of the following, fill in the blank with either Increase or Decrease 1 2 4 A debit Acredit A debit A credit A debit A credit to Accounts Payable to Prepaid Expenses to Retained Earnings to Utilities Expense to Dividends to Accounts Receivable would decrease the account. would decrease the account. would increase the account. would increase the account. would increase the account. would decrease the account. 6 * computer or Using the normal balances for Gus Company...
Given the adjusted trial balance shown below:
1) Prepare a multi-step income statement
2) a statement of retained earnings
3) Prepare a classified balance sheet in horizontal format
Dr 155,000 35,000 3,750 6,000 2,000 7,000 10,000 100,000 54,000 25,000 10,000 75,000 Big, Inc. Adjusted Trial Balance For the year ended 12/31/16 Account Cash Accounts Receivable 5 Allowance for Doubtful Accounts Prepaid Insurance Prepaid Property Taxes Inventory Loan Receivable Building A/D - Building Equipment A/D - Equipment Investments - Accounts Payable...
Conduct a multi step income statement, statement of retained
earnings, and classified balance sheet for the following
Adjusted Trial Balance December 31, 2017 DEBIT 8,000 4,005 CREDIT 500 1001 80 22.000 150 4,000 1,800 4001 Cash Accounts Receivable Allowance for Doubtful Accounts Short term Note Receivable Interest Receivable Supplies Inventory Prepaid Expenses Equipment Accumulated Depreciation Copyrights Accounts Payable Interest Payable Unearned Revenue Long Term Note Payable Common Stock Paid-in-Capital In Excess of Par - CS Retained Earnings (1/1/17) Dividends Sales...
prepare: Use the following accounts and balances to L. Multi-step Income Statement 2. Statement of Retained Earnings 3. Classified Balance Sheet Account Amount Account Amount Accounts payable S38 500 Loss on sale of equipment S 20,000 Accounts receivable 450,000 Marketable securities $ 30,000 8000Miscellaneous administrative expense S 6,000 depreciation-office equipmentS Accum, de Advertising expense Allowance for Doubtful Accounts Bonds Payable epreciation-store equipment$ 87500 S 420,000 Note payable (due June 2019) $9,000 payable (final payment due 2022) 5 36,000 15,000Notes Receivable...
Preparation of Financial Statements Use the following information to prepare a multi-step Statement of Comprehensive Income, a Statement of Changes in Shareholders Equity, and a classified Statement of Financial Position. Charles Corporation Adjusted Trial Balance December 31, 2017 Debit Credit $ 33,400 87,400 Cash 90,000 7,000 170,000 Merchandise Inventory.. Store Supplies Store Equipment. Accumulated Depreciation-Store Equipment Delivery Equipment Accumulated Depreciation-Delivery Equipment Notes Payable Accounts Payable Common Shares.... Retained Earnings. Sales Sales Return and Allowances Cost of Goods Sold. 54,000 96,000...
Prepare a Trial Balance, Multi Step Income
Statement, Retained Earnings Statement, and Classified Balance
Sheet
the
values needed are all the way on the left in the photo. i started
the trial balance (the green chart) but could not get both sides to
equal.
ACCT 251 EXCEL ASSIGNMENT - PREPARING FINANCIAL STATEMENTS IN EXCEL (see instructions tab for detailed instructions) Prepare a multi-step income statement: Prepare a retained earnings statement: Prepare a classified balance sheet: 1,001,360 101,360 591,680 Service Revenue...
3. Prepare Tristan Electronics's multi-step income statement for year ended March 31, 2018 Tristan Electronics Company Adjusted Trial Balance March 31, 2018 Account Title Cash Balance Debit Credit 10,000 38,400 45,600 Accounts Receivable Merchandise Inventory Office Supplies Equipment Depreciation Expense-Equipment (Administrative) Interest Receivable 5,900 131,500 1,315 300 Interest Payable 1,400 16,500 13,000 Accounts Payable Unearned Revenue Salaries Payable Notes Payable, long-term Estimated Returns Inventory Accumulated Depreciation-Equipment Refunds Payable 2,700 46,000 1,050 37,815 3,500 1,400 Interest Payable Accounts Payable Unearned Revenue...
Goal: Practice creating a multi-step income statement in good form. Information: Management would like you to create Terry's financial statements, beginning with the income statement. In addition to creating the financial statements, Terry's management has asked you to calculate the following financial ratios: • Profit Margin (NI / Net Sales) • Earnings per Share (NI / Common Shares Outstanding) Assignment: 1. Create a multi-step income statement in good form for Terry Co. for Year 2. The following information can be...
1) Use the following accounts to prepare a year end multi step income statement and a classified balance sheet for the Jones Company. Administrative expenses Accumulated depreciation Equipment Cash 23000 30000 45000 6000 15000 30000 500 12000 400 common stock Cost of merchandise sold Interest expense Rent Revenue Unearned fees Supplies Prepaid Insurance Accounts Receivable Bonds payable Sales Selling Expenses Retained earnings 450 500 4500 10000 84000 2000 1050 3) Use the following accounts to prepare a year end multi-step...