Question

The following is an alphabetical list of accounts for Mack Company:
Accounts Payable
Accounts Receivable
Accumulated Depreciation: Buildings and Office Equipment
Accumulated Depreciation: Store and Delivery Equipment
Administrative Salaries
Advertising Expense
Allowance for Doubtful Accounts
Bad Debts Expense
Bonds Payable
Buildings
Cash
Cash Dividends Declared
Declared Common Stock, $10 par
Delivery Expense
Depreciation Expense: Buildings and Office Equipment
Depreciation Expense: Store and Delivery Equipment
Dividend Income
Dividends Payable
Freight on Purchases
Fund to Retire Long-Term Bonds
Gain on Sale of Division T
Gain on Sale of Equipment
Income Tax Expense
Insurance Expense
Interest Expense
Interest Income
Interest Payable
Investment in Securities (Long-Term)
Loss from Operations of Discontinued Division T
Loss on Sale of Office Equipment
Merchandise Inventory, January 1, 2016
Merchandise Inventory, December 31, 2016
Miscellaneous Office Expenses
Miscellaneous Sales Expenses
Mortgage Payable
Office Salaries
Office Supplies Used
Paid-in Capital on Common Stock
Prepaid Office Supplies
Property Tax Expense
Purchases
Purchases Discounts Taken
Purchases Returns and Allowances
Rent Revenue
Retained Earnings, January 1, 2016
Salaries Payable
Sales
Sales Commissions
Sales Discounts Taken
Sales Salaries
Stock Dividends Declared
Unearned Rent
Unexpired Insurance
Unrealized Increase in Fair Value of Available-for-Sale Securities
Utilities Expense
Required:
Ignoring amounts, select Mack’s appropriate accounts and prepare for 2016:
1. A multiple-step income statement with proper subheadings
2. A statement of comprehensive income
3. A retained earnings statement


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  • CreatedOctober 05, 2015
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