Prepare the income statement
ABC
Corporation
Adjusted Trial Balance
December 31, 2014
Debit
Credit
Cash
$ ...
Prepare the income statement
ABC
Corporation
Adjusted Trial Balance
December 31, 2014
Debit
Credit
Cash
$
650,729
Short term investments
167,000
Fair value adjustment (Trading)
8,000
Accounts receivable
200,200
Allowance for doubtful accounts
$
25,000
Inventory
75,000
Purchases
-
Prepaid insurance
16,400
LT (Debt) investments (HTM)
177,824
Land
75,000
Building
150,000
Accumulated depreciation: building
4,400
Equipment
60,000
Accumulated depreciation: equipment
22,000
Patent
27,500
Accounts payable
75,240...
Requirement 1: Using the List of Accounts, create a
multiple-step income statement, statement of retained earnings,...
Requirement 1: Using the List of Accounts, create a
multiple-step income statement, statement of retained earnings, and
classified balance sheet for the year ending December 31, 201x. The
multiple-step income statement should also include a section for
basic “per-share” amounts for the Income from Continuing Operations
and the Net Income line items. Also, create your own company name.
These statements should be in an appropriate format. This means
that the multiple-step income statement should present gross
profit, operating, nonoperating, and...
Prepare an Income Statement
ABC Corporation
Adjusted Trial
Balance
December 31,
2014
Debit
Credit
Accounts Payable...
Prepare an Income Statement
ABC Corporation
Adjusted Trial
Balance
December 31,
2014
Debit
Credit
Accounts Payable
$
65,340
Accounts Receivable
190,300
Accumulated Depreciation: Building
$
5,400
Accumulated Depreciation: Equipment
29,359
Accumulated Other Comprehensive
Income
15,000
Additional Paid in Capital - Treasury
Stock
21,000
Advertising Expense
8,400
Allowance for Doubtful Accounts
25,000
Bad Debt Expense
25,000
Bonds Interest Expense
43,088
Bonds Payable
1,600,000
Building
150,000
Cash
1,270,676
Common Stock
...
Complete a Statement of Retained Earnings
ABC Corporation
Income
Statement
For the Year Ended
December 31,...
Complete a Statement of Retained Earnings
ABC Corporation
Income
Statement
For the Year Ended
December 31, 2014
Sales Revenue
792,845
Less: Operating Expenses
Wages Expense
80,350
Office Expense
21,700
Utilities Expense
31,000
Advertising Expense
$ 8,400
Insurance Expense
82,000
Employee Compensation Expense
10,000
Bad Debt Expense
25,000
Pension Expense
40,000
Depreciation Expense
33,759
Total Operating Expenses
332,209
Income from Operations
460,636
Other Revenue/Expenses
Rent Revenue
12,000
Interest Income...
1.
The net income reported on the income statement for the current
year was $310,744. Depreciation...
1.
The net income reported on the income statement for the current
year was $310,744. Depreciation recorded on fixed assets and
amortization of patents for the year were $37,280 and $10,133,
respectively. Balances of current asset and current liability
accounts at the end and at the beginning of the year are as
follows:
End
Beginning
Cash
$53,915
$45,355
Accounts Receivable
129,483
107,546
Inventories
105,094
87,496
Prepaid Expenses
3,822
6,325
Accounts Payable (merchandise creditors)
51,118
60,892
What is the amount of...
Create a multiple-step income statement, statement of
retained earnings, and classified balance sheet for the
year...
Create a multiple-step income statement, statement of
retained earnings, and classified balance sheet for the
year ending December 31, 2018. These statements should be in an
appropriate format. This means that the multiple-step income
statement should present gross profit, operating, nonoperating, and
nonrecurring items separately. This also means that the classified
balance sheet should present current and long-term items
separately. The statement of retained earnings only needs to
present the “Retained Earnings” column from a Statement of
Stockholders’ Equity.
Information:...
Prepare an income Statement
Accounts Payable- 88,851
Accounts receivable- 442,120
Accumulated depreciation: building- 1,265
Accumulated depreciation:...
Prepare an income Statement
Accounts Payable- 88,851
Accounts receivable- 442,120
Accumulated depreciation: building- 1,265
Accumulated depreciation: equipment- 9,900
Advertising Expense- 9,240
Allowance for doubtful accounts- 75,000
Allowance to Reduce Inventory to NRV- 16,000
Bad Debt Expense- 75,000
Bonds Payable- 700,000
Building- 37,500
Cash- 834,544
Common stock- 135,000
Depreciation Expense- 11,165
Dividends- 28,000
Equipment- 21,600
Impairment Loss Expense- 5,000
Income Taxes Expense- 99,000
Income taxes payable- 99,000
Insurance Expense- 22,500
Interest Expense- 31,171
Interest Payable- 35,000
Inventory- 70,000
Land- 88,000
Notes...
balance Sheet - statement of financial position
3.
Accounts Payable
$14,500
Accounts
Receivable
$2,500
Accumulated
Amortization,...
balance Sheet - statement of financial position
3.
Accounts Payable
$14,500
Accounts
Receivable
$2,500
Accumulated
Amortization, patents
$3,500
Accumulated
Depreciation, equipment
$3,000
Retained Earnings
$6,400
Cash
$41,900
Common Shares
$40,000
Equipment
$3,500
Land
$15,000
Long-term
investments
$500
Bank loan payable (due
in 5 years)
$4,200
Patents
$5,500
Short-term (trading)
investments
$2,700
Please make a balance sheet ;The following information is
available for Jordi Ltd. at December 31, 2017: