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X BUS 361 Excel Workbook Templates Final Assessment4 - Saved v Q Search (Cmd + Ctrl + U) Home Insert Draw Page Layout Formulas Data Review View Comments Share Calibri (Body) V 14 V A " A Wrap Text v General Insert v v Z AP- O. x Delete Paste BIU | |ZAV Merge & Center v Conditional Format Cell Sort & Find & Add-ins Analyze Formatting as Table Styles Format v v Filter Select Data 124 [XV fx | A B C D E F G H 1 J K L M N 0 P Q R S T U V W w Mary's Clothes Washing Corporation Trial Balance December Debits Credits 8 Cash $ 22,500 9 Accounts Receivable, net 17,350 10 Inventory, December 31 70,350 11 Prepaid Insurance 5,200 12 Prepaid Rent 20,000 13 Prepaid Advertising 2,50 14 Equipment 60,000 15 Accumulated Depreciation- Eqpuipment 22,500 16 Accounts Payable 17,000 17 Notes Payable 25,000 18 Salaries Payable 5,400 19 Payroll Tax Payable 2 ,130 20 Interest Payable 250 21 Common Stock 10,000 22 Retained Earnings 100,525 23 Dividends 15,500 24 Sales Revenue 496,625 Cost of Goods Sold 207,400 26 Bad Debt Expense 4,900 27 Rent Expense 20,000 28 Interest Expense 2.000 29 Legal Fees Expense 450 30 Insurance Expense 5,200 31 Property Tax Expense 1,250 32 Postage Expense 224 33 Salaries Expense (admin) 59,850 34 Advertising Expense 26,700 35 Utilities Expense 22,500 36 Payroll Tax Expense (operations) 11,445 3 AJEs 4 Trial Balance 5 Income Statement 5 thru 7 Problem 6 Retained Earnings 7 Balance Sheet 8 Problem 8 Cash Flow + Select destination and press ENTER or choose Paste #GA -+ 100%AutoSave On F . 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X BUS 361 Excel Workbook Templates Final Assessment4 - Saved v Q Search (Cmd + Ctrl + U) Home Insert Draw Page Layout Formulas Data Review View Comments Share Calibri (Body) V 14 " A" A " = = Wrap Text v General Insert v AP- O. x Delete v Z Paste Merge & Center v Conditional Format Cell Sort & Find & Add-ins Analyze Formatting as Table Styles Format v v Filter Select Data 124 {XV fx | B C D E F G H 1 K L M N 0 P Q R S T U V W 15 Accumulated Depreciation- Eqpuipment 22,500 16 Accounts Payable 17,000 17 Notes Payable 25,000 18 Salaries Payable 5,400 19 Payroll Tax Payable 2,130 20 Interest Payable 250 21 Common Stock 10,000 22 Retained Earnings 100,525 23 Dividends 15,500 24 Sales Revenue 496,625 25 Cost of Goods Sold 207,400 26 Bad Debt Expense 4,900 27 Rent Expense 20,000 28 Interest Expense 2,000 29 Legal Fees Expense 450 30 Insurance Expense 5,200 31 Property Tax Expense 1,250 32 Postage Expense 224 33 Salaries Expense (admin) 59,850 34 Advertising Expense 26,700 35 Utilities Expense 22,500 36 Payroll Tax Expense (operations) 11,445 37 Income Tax Expense 8,133 38 Payroll Tax Expense (admin) 8,978 39 Salaries Expense (operations) 76,300 40 Depreciation Expense 6.500 Supplies Expense 4,200 42 Total $ 679,430 $ 679,430 43 44 Note that accounts may or many not be listed in standard way of ordering (Assets, Liabilitys, Equity, 45 Revenue, and Expenses) 46 47 48 3 AJEs 4 Trial Balance 5 Income Statement 5 thru 7 Problem 6 Retained Earnings 7 Balance Sheet 8 Problem 8 Cash Flow + Select destination and press ENTER or choose Paste #GH - - + 100%AutoSave On P8 5 . C DO ... X BUS 361 Excel Workbook Templates Final Assessment4 - Saved v Q Search (Cmd + Ctrl + U) Comments Share Home Insert Draw Page Layout Formulas Data Review View Insert v Calibri (Body) V 14 " A" A 2 Wrap Text Custom AP- O. x Delete v Z $ ~ % " | 408 28 Conditional Format Cell Sort & Find & Add-ins Analyze Paste BIU | |SAV Merge & Center v Formatting as Table Styles Format v v Filter Select Data L8 XV fx | E G H M N 0 P Q R S T U V W X Y Z AA B D pare a Multiple-Step Income Statement, at December 31, 2023, for Mary's Clothes Washing Corporation. 2 that the template has not been created for the standard income statement beyond the corporation's name. 3 back to the multiple-step income statement content if needed. Mary's Clothes Washing Corporation Income statement For the Year Ended December 31,2023 11 12 13 14 15 16 17 18 20 22 23 24 25 26 27 28 29 30 31 32 3 AJEs 4 Trial Balance 5 Income Statement 5 thru 7 Problem 6 Retained Earnings 7 Balance Sheet 8 Problem 8 Cash Flow + Ready #GA -+ 100% To Accessibility: InvestigateAutoSave On FB ) . C DO ... X BUS 361 Excel Workbook Templates Final Assessment4 - Saved v Q Search (Cmd + Ctrl + U) Home Insert Draw Page Layout Formulas Data Review View Comments Share Calibri (Body) V 14 V A" A Wrap Text General Insert v AP- O. x Delete V v Z Paste Merge & Center v $ ~ % 9 08 28 Conditional Format Cell Sort & Find & Add-ins Analyze Formatting as Table Styles Format v v Filter Select Data Ag X VI fx| B G H K L M N P Q R S T U V W X Z AA 1 B. Prepare a Classified Balance Sheet, at December 31, 2023, for Mary's Clothes Washing Corporation. Note that the template has not been created for the statement beyond the corporation's name Refer back to the classified balance sheet content if needed. Mary's Clothes Washing Corporation 35 36 37 38 39 3 AJEs 4 Trial Balance 5 Income Statement 5 thru 7 Problem 6 Retained Earnings 7 Balance Sheet 8 Problem 8 Cash Flow + Ready To Accessibility: Investigate #GE-+ 100%AutoSave On F8 5 . CO ... X BUS 361 Excel Workbook Templates Final Assessment4 - Saved v Q Search (Cmd + Ctrl + U) Home Insert Draw Page Layout Formulas Data Review View Comments Share Calibri (Body) V 14 ~ A" A " Wrap Text v General Insert v V v Z AP- O. x Delete Paste BI U V| |SAV Merge & Center v Conditional Format Cell Sort & Find & Add-ins Analyze Formatting as Table Styles Format v v Filter Select Data H23 JX V fx | A B D E F G H I J K M N P Q R S T U V W X Mary's Corporation W N Balance Sheet UT December-31 2023 2022 7 Assets: 8 Cash 32,300 $ 4 9 Accounts Receivable 79,900 107,100 10 Investments- trading 88,400 81,600 11 Equipment 425,000 345,100 12 Accumulated Depreciation- Eqp (147,900) (136,000) 13 Land 86,700 49,300 14 Total Assets 564,400 487,900 15 16 Liabilities and Equity 17 Accounts Payable 18,700 $ 6,800 18 Current portion of Long-Term Debt 8,000 10,000 19 Long-Term Note Payable 119,500 75,000 20 Common Stock 130,900 81,600 21 Retained Earnings 287,300 314,500 22 Total Liabilities and Equity 564,400 487,900 23 24 25 Additonal information: 26 1. Net income for the year ended December 31, 2023 was $161,500. 27 2. Cash dividends were declared and paid in 2023. 28 3. Equipment, with an original cost of $51,000 and with accumulated depreciation of $13,600, was sold for proceeds 29 equal to book value during 2023 30 4. The investments are reported at Fair Value at the balance sheet date. During 2023, an investment with a cost 31 of $12,000 was purchased. No other investment transactions occurred during the year. Fair value adjustments are 32 reported directly on the income statement. 33 5. In 2023, land was aquired through the issuance of common stock. The balance 34 of the common stock issued was for cash 35 3 AJEs 4 Trial Balance 5 Income Statement 5 thru 7 Problem 6 Retained Earnings 7 Balance Sheet 8 Problem 8 Cash Flow + Ready To Accessibility: Investigate #GE -+ 100%AutoSave On F8 5 . C DO ... X BUS 361 Excel Workbook Templates Final Assessment4 - Saved v Q Search (Cmd + Ctrl + U) Home Insert Draw Page Layout Formulas Data Review View Comments Share Calibri (Body) V 14 " A " A Wrap Text v General Insert v x Delete V v Z Paste Merge & Center v Conditional Format Cell Sort & Find & Add-ins Analyze Formatting as Table Styles Format v v Filter Select Data H14 "XV fx | D G H K L M N P Q R S T U V W X Y Z AA de all required disclosures. Note that the template has not been created beyond the corporation's name. the statement of cash flow content if needed. Mary's Corporation Statement of Cash Flows ar Ended December 31, 2016 Cash Flows $146,100 10 Operating Activities Cash Flows ($54,500) 11 net income $ 146,100.00 Cash Flows ($85,000) 12 Adjustments: Net Decre: ($7,400) 13 Depreciation $11,900 Cash at Bet $40,800 Change in Accounts 14 Receivable $27,200 Cash at End $32,300 15 16 17 18 19 20 24 25 26 27 28 29 30 31 D 3 AJEs 4 Trial Balance 5 Income Statement 5 thru 7 Problem 6 Retained Earnings 7 Balance Sheet 8 Problem 8 Cash Flow + Ready To Accessibility: Investigate #GE-+ 100%