Accounts Payable These financial statement items are for Batra Corporation at year-end, December 31, 2011: Salaries...

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Accounts Payable These financial statement items are for Batra Corporation at year-end, December 31, 2011: Salaries expense Utilities expense Equipment $20,000 14,900 15,900 6,220 Sales Revenue 69,600 Unearned rent revenue 1,800 Common stock 20,000 Cost of Goods Sold (COGS) 38,700 Cash 10,440 Accounts receivable 8,780 Accumulated depreciation 5,400 Dividends 14,000 Depreciation expense 4,000 Retained earnings (Jan. 1, 2011) 25,200 Prepaid Expenses 1,500 Required: a. Prepare a multi-step income statement and a Retained Earnings Statement for the year. Batra Corp. did not issue any new stock during the year. b. Prepare a classified balance sheet at December 31, 2011. Accounts Payable These financial statement items are for Batra Corporation at year-end, December 31, 2011: Salaries expense Utilities expense Equipment $20,000 14,900 15,900 6,220 Sales Revenue 69,600 Unearned rent revenue 1,800 Common stock 20,000 Cost of Goods Sold (COGS) 38,700 Cash 10,440 Accounts receivable 8,780 Accumulated depreciation 5,400 Dividends 14,000 Depreciation expense 4,000 Retained earnings (Jan. 1, 2011) 25,200 Prepaid Expenses 1,500 Required: a. Prepare a multi-step income statement and a Retained Earnings Statement for the year. Batra Corp. did not issue any new stock during the year. b. Prepare a classified balance sheet at December 31, 2011.

Answer rating: 100% (QA)

Batra Corporation Financial Statements Year Ended December 31 2011 a Income Statement and Retained E... View the full answer