Question

DR. CR. Accounts Payable 26,000 Accounts Receivable 57,000 Accumulated Depreciation – Equipment   40,000 Depreciation Expense 13,000...

DR.

CR.

Accounts Payable

26,000

Accounts Receivable

57,000

Accumulated Depreciation – Equipment  

40,000

Depreciation Expense

13,000

Sales Revenue

250,000

Cash

25,000

Common Stock

50,000

Equipment

150,000

Investment in Debt Securities

45,000

Freight-out

5,000

Insurance Expense

2,500

Salaries and Wages expense

30,000

Rent Expense

20,000

Sales Discount

8,000

Retained Earnings

25500

Prepaid Insurance

7,500

Sales Return and Allowance

12,000

Gain on Disposal of Plant Asset

6,000

Dividends

7,000

Interest Expense

7,500

Salaries and Wages Payable

2,500

Income tax Expense

6,500

Advertising Expense

4000

        TOTAL

  $400000

$400,000

REQUIRED

Prepare a multiple-step income statement for Yazdy Company for 2020.

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