Question: Could you please help me do a multi step income statment. All the info is on the png Multi-Step Income Statement Final Exam Practice Problem

 Could you please help me do a multi step income statment.

Could you please help me do a multi step income statment. All the info is on the png

All the info is on the png Multi-Step Income Statement Final Exam

Multi-Step Income Statement Final Exam Practice Problem 2: Prepare a multistep income statement for Sandpiper Corporation as of December 31. 201 3 using columns 2, 3, & 4 of the accounting paper supplied. Use pencil only, place the units, tens, hundreds. thousands, etc. in the proper mini column. and leave the pennies blank except for earnings per share. No commas are necessary when you use the accounting paper properly. Dollars signs used at the top of the column and after a total line. Use columns 2 for detail, column 3 for totals, and column 4 for percengage of sales revenue to the nearest tenth of a percent. Leave column 1 blank. Not all of these accounts belong on the income statement. Show Earnings per Share and the common shares outstanding after the net income. Accounts payable 3; 24.500 Accounts receivable 49.000 Cash 23.000 Cost of Goods Sold 399,000 General and Administration Expenses 250.000 Inventory 38,000 Income Taxes - use 20% tax to the nearest 3; to calculate Other Revenue & Gains 2,000 Other Expenses & Losses 4.500 . Prepaid Expenses 2,600 Sales Revenue 950,000 Selling Expenses 150,000 Common shares issued 40,000 Common shares in treasury 550

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!