The following items and amounts were taken from Motte Inc.s 2014 income statement and balance sheet. Instructions
Question:
Instructions
(a) In each, case, identify on the blank line whether the item is an asset (A), liability (L), stockholders equity (SE), revenue (R), or expense (E) item.
(b) Prepare an income statement for Motte Inc. for the year ended December 31,2014.
Transcribed Image Text:
84,700 123,192 438,458 115,131 7,818 64,618 Accounts receivable Sales revenue 88,419 584,951 6,499 49,384 4,806 1,882 _Cash ned earnings Retai Cost of goods sold Salaries and wages expense Prepaid insurance Inventory Notes payable Accounts payable Service revenue Interest expense
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a A Cash SE Retained earnings E Cost of goods sold E Salaries and wages expense A Prepaid insurance ...View the full answer
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Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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