Question

The Procter & Gamble Company is one of the largest consumer products companies in America. The (slightly modified) trial balance as of June 30, 2011, appears here:


1. Prepare Procter & Gamble’s income statement for the year ended June 30, 2011, using a multiple-step format.
2. Prepare Procter & Gamble’s income statement for the year ended June 30, 2011, using a single-step format. Which format for the income statement is more informative? Why?
3. Prepare Procter & Gamble’s classified balance sheet as of June 30, 2011.


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  • CreatedFebruary 20, 2015
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