Preparing a merchandiser’s balance1 sheet
Review the data in Short Exercise.
Requirement
1. Prepare Carolina Communications’ classified balance sheet at July 31, 2012. Use the report format.
Exercise
Preparing a merchandiser’s income statement
Carolina Communications reported the following figures in its financial statements:
Requirement
1. Prepare the business’s multi-step income statement for the year ended July 31, 2012.
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