Question

The following selected accounts and their current balances appear in the ledger of Black Lab Co. for the fiscal year ended April 30, 2012:


Instructions
1. Prepare a multiple-step income statement.
2. Prepare a statement of owner’s equity.
3. Prepare a report form of balance sheet, assuming that the current portion of the note payable is $7,000.
4. Briefly explain
(a) How multiple-step and single-step income statements differ and
(b) How report-form and account-form balance sheetsdiffer.


$1.99
Sales0
Views214
Comments0
  • CreatedMay 07, 2012
  • Files Included
Post your question
5000