Prepare a MULTISTEP income statement: Account title Ref. Debit Credit Cash $17,560 Account Receivable 18,065 Supplies 60,500
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Question:
Prepare a MULTISTEP income statement:
Account title | Ref. | Debit | Credit |
Cash | $17,560 | ||
Account Receivable | 18,065 | ||
Supplies | 60,500 | ||
Building | 180,000 | ||
Acc. Depreciation-Building | $22,000 | ||
Equipment | 45,600 | ||
Acc. Depreciation-Equipment | 5,800 | ||
Account Payable | 29,200 | ||
Salary Payable | 3,500 | ||
Interest Payable | 1,000 | ||
Unearned Sales Revenue | 7,000 | ||
Note Payable, Long Term | 85,000 | ||
J. Ayala, Capital | 180,000 | ||
J. Ayala, Withdrawals | 5,000 | ||
Sales Revenue | 150,000 | ||
Sales Discounts | 6,200 | ||
Sales Return and Allowances | 7,600 | ||
Cost of Goods Sold | 102,000 | ||
Selling Expense | 18,400 | ||
General Expense | 20,075 | ||
Interest Expense | 2,500 | ||
Total | 483,500 | 483,500 |
Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
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