INSTRUCTIONS

Prepare a multi$-$step income statement and a classified balance sheet in good form using the trial balance provided in the next sheet, i$.$e$.$ Premier Pets Inc. trial balance for the year ending December $31,2022.$

Prepare each of the financial statements in a professional manner and demonstrate the effective and efficient use of Excel.

Premier Pets Inc.

Adjusted Trial Balance

December $31,2022$

Acct No$.$

$\backslash$table$[[$Account Title,Debit,Credit$],[,,],[$Receivables$,35,310,],[$Allowance for doubtful accounts,$42,000,1,500],[$Merchandise inventories,$89,000,],[$Prepaid expenses and other current assets,$6,500,],[$Investments$-$Marketable Equity Securities,$88,665,],[$Property and equipment,$263,700,],[$Accumulated depreciation,,$51,000],[$Accounts payable,,$40,000],[$Accrued payroll and employee benefits,,$20,000],[$Payroll taxes payable,,$3,000],[$Interest payable,,$700],[$Current portion of long term debt,,$6,000],[$Income taxes payable,,$5,000],[$Long term debt,,$63,000],[$Other debt,,$-],[$Preferred stock,,$-],[$Common stock,,$10,000]]$

$\backslash$table$[[,,$C$,$D$],[3111,$Additional paid$-$in capital,,$135,000],[3120,$Retained earnings,,$70,000],[5001,$Merchandise sales,,$800,000],[5003,$Services sales,,$202,000],[6001,$Cost of Merchandise Sales,$425,000,],[6003,$Cost of services sales,$93,000,],[7001,$Salares

INSTRUCTIONS

Prepare a multi$-$step income statement and a classified balance sheet in good form using the trial balance provided in the next sheet, i$.$e$.$ Premier Pets Inc. trial balance for the year ending December $31,2022.$

Prepare each of the financial statements in a professional manner and demonstrate the effective and efficient use of Excel.

Premier Pets Inc.

Adjusted Trial Balance

December $31,2022$

Acct No$.$

$\backslash$table$[[$Account Title,Debit,Credit$],[,,],[$Receivables$,35,310,],[$Allowance for doubtful accounts,$42,000,1,500],[$Merchandise inventories,$89,000,],[$Prepaid expenses and other current assets,$6,500,],[$Investments$-$Marketable Equity Securities,$88,665,],[$Property and equipment,$263,700,],[$Accumulated depreciation,,$51,000],[$Accounts payable,,$40,000],[$Accrued payroll and employee benefits,,$20,000],[$Payroll taxes payable,,$3,000],[$Interest payable,,$700],[$Current portion of long term debt,,$6,000],[$Income taxes payable,,$5,000],[$Long term debt,,$63,000],[$Other debt,,$-],[$Preferred stock,,$-],[$Common stock,,$10,000]]$

$\backslash$table$[[,,$C$,$D$],[3111,$Additional paid$-$in capital,,$135,000],[3120,$Retained earnings,,$70,000],[5001,$Merchandise sales,,$800,000],[5003,$Services sales,,$202,000],[6001,$Cost of Merchandise Sales,$425,000,],[6003,$Cost of services sales,$93,000,],[7001,$Salares

INSTRUCTIONS

Prepare a multi$-$step income statement and a classified balance sheet in good form using the trial balance provided in the next sheet, i$.$e$.$ Premier Pets Inc. trial balance for the year ending December $31,2022.$

Prepare each of the financial statements in a professional manner and demonstrate the effective and efficient use of Excel.

Premier Pets Inc.

Adjusted Trial Balance

December $31,2022$

Acct No$.$

$\backslash$table$[[$Account Title,Debit,Credit$],[,,],[$Receivables$,35,310,],[$Allowance for doubtful accounts,$42,000,1,500],[$Merchandise inventories,$89,000,],[$Prepaid expenses and other current assets,$6,500,],[$Investments$-$Marketable Equity Securities,$88,665,],[$Property and equipment,$263,700,],[$Accumulated depreciation,,$51,000],[$Accounts payable,,$40,000],[$Accrued payroll and employee benefits,,$20,000],[$Payroll taxes payable,,$3,000],[$Interest payable,,$700],[$Current portion of long term debt,,$6,000],[$Income taxes payable,,$5,000],[$Long term debt,,$63,000],[$Other debt,,$-],[$Preferred stock,,$-],[$Common stock,,$10,000]]$

$\backslash$table$[[,,$C$,$D$],[3111,$Additional paid$-$in capital,,$135,000],[3120,$Retained earnings,,$70,000],[5001,$Merchandise sales,,$800,000],[5003,$Services sales,,$202,000],[6001,$Cost of Merchandise Sales,$425,000,],[6003,$Cost of services sales,$93,000,],[7001,$Salares

INSTRUCTIONS

Prepare a multi$-$step income statement and a classified balance sheet in good form using the trial balance provided in the next sheet, i$.$e$.$ Premier Pets Inc. trial balance for the year ending December $31,2022.$

Prepare each of the financial statements in a professional manner and demonstrate the effective and efficient use of Excel.

Premier Pets Inc.

Adjusted Trial Balance

December $31,2022$

Acct No$.$

$\backslash$table$[[$Account Title,Debit,Credit$],[,,],[$Receivables$,35,310,],[$Allowance for doubtful accounts,$42,000,1,500],[$Merchandise inventories,$89,000,],[$Prepaid expenses and other current assets,$6,500,],[$Investments$-$Marketable Equity Securities,$88,665,],[$Property and equipment,$263,700,],[$Accumulated depreciation,,$51,000],[$Accounts payable,,$40,000],[$Accrued payroll and employee benefits,,$20,000],[$Payroll taxes payable,,$3,000],[$Interest payable,,$700],[$Current portion of long term debt,,$6,000],[$Income taxes payable,,$5,000],[$Long term debt,,$63,000],[$Other debt,,$-],[$Preferred stock,,$-],[$Common stock,,$10,000]]$

$\backslash$table$[[,,$C$,$D$],[3111,$Additional paid$-$in capital,,$135,000],[3120,$Retained earnings,,$70,000],[5001,$Merchandise sales,,$800,000],[5003,$Services sales,,$202,000],[6001,$Cost of Merchandise Sales,$425,000,],[6003,$Cost of services sales,$93,000,],[7001,$Salares