Given the following data, prepare a set of financial statements including Income statement, balance sheet and statement
Question:
Given the following data, prepare a set of financial statements including Income statement, balance sheet and statement of cash flows.
Whoopie Company adjusted account balances as of the year end, are as follows some noted balances are Jan. in thousands:
Sales
Purchases
Marketable securities
Purchase returns and allowances
Extraordinary loss due to earthquake, net of
applicable taxes of $
Selling expenses
Cash
Accounts receivable
Common stock
Accumulated depreciation
Paidincapital in excess of par
Inventory, January
Inventory, December
Accounts payable
Salaries payable
Long Term Debt.
Cash surrender value of life insurance other assets.
Patents
Retained earnings, January
Interest expense
Cumulative effect of change in depreciation methods,
net of applicable taxes of $
General and administrative expenses
Allowance for doubtful accounts
Notes payable maturity
Machinery and equipment
Income tax expense
Treasury stock
Dividends declared and paid
Prepare multistep income statement, statement of retained earnings and classified balance sheet:
Intermediate Algebra
ISBN: 9780134895987
13th Edition
Authors: Margaret Lial, John Hornsby, Terry McGinnis