Prepare the Verification Balance. The Muebles de la Montaa company has the following transactions in its ledger.
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Question:
Prepare the Verification Balance.
The Muebles de la Montaa company has the following transactions in its ledger. Make a multiple - step income statement .
Prepare a single-stage income and expense statement. (single-step income statement)
ACCOUNT | BALANCE | ACCOUNT | BALANCE |
Cash | $31,400 | Sales | $932,100 |
Accumulated Depreciation-Bulding | 60,000 | Account Receivable | 37,600 |
Building | 200,000 | Note Payable | 54,700 |
Land | 92,000 | Joe Doe, Capital | 217,700 |
Cost of Merchandise Sold | 709,900 | Sales Discounts | 11,700 |
Advertising Expense | 10,000 | Accumulated Dep. Equip. | 40,500 |
Utilities Expense | 11,400 | Maint. & repair Expenses | 13,700 |
Inventory | 70,000 | Salaries Expense | 51,300 |
Accounts Payable | 17,500 | Equipment | 83,500 |
Please put the answers on an excel sheet or in columns like the one above.
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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