please prepare the financial statements separately

-multiple-step income statement, and clarified balance sheet, comprehensive Income Statement, Partial Statement of Stockholders' Equity

 

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Problem #1 Use the Adjusted Trial Balance below to complete the preparation of the financial statements found on the next two pages. Label your answer sheet well (A-S). 18 points Extra Information: Cash balance of $210,000 consists of two bank account balances. One account has a balance of $220,000. The other has a balance of ($10,000). Both accounts are at the same bank. Accounts Receivable balance of $80,000 consists of 27 invoices from 22 customers that total $81,000. Also included in the Accounts Receivable balance is ($1,000) due to a customer. Note Payable is due in two equal installments. The first installment is due on 12/31/2021. The second installment is due on 12/31/2022. Roblie Corporation Adjusted Trial Balance 12/31/2020 Credit Cash Accounts Receivable Inventory Land Building, net Equipment, net Goodwill Accounts Payable Wages Payable Unearned Revenue Notes Payable Common Stock Additional Paid in Capital Retained Earnings Accumulated Other Comprehensive Income Unrealized Holding Gain Sales Revenue Sales Discounts Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense Debit 210,000 80,000 120,000 100,000 90,000 275,000 120,000 14,000 7,000 20,000 180,000 150,000 550,000 47,000 8,000 1,000 300,000 3,000 160,000 80,000 24,000 15,000 1,277,000 1,277,000 Problem #1 Use the Adjusted Trial Balance below to complete the preparation of the financial statements found on the next two pages. Label your answer sheet well (A-S). 18 points Extra Information: Cash balance of $210,000 consists of two bank account balances. One account has a balance of $220,000. The other has a balance of ($10,000). Both accounts are at the same bank. Accounts Receivable balance of $80,000 consists of 27 invoices from 22 customers that total $81,000. Also included in the Accounts Receivable balance is ($1,000) due to a customer. Note Payable is due in two equal installments. The first installment is due on 12/31/2021. The second installment is due on 12/31/2022. Roblie Corporation Adjusted Trial Balance 12/31/2020 Credit Cash Accounts Receivable Inventory Land Building, net Equipment, net Goodwill Accounts Payable Wages Payable Unearned Revenue Notes Payable Common Stock Additional Paid in Capital Retained Earnings Accumulated Other Comprehensive Income Unrealized Holding Gain Sales Revenue Sales Discounts Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense Debit 210,000 80,000 120,000 100,000 90,000 275,000 120,000 14,000 7,000 20,000 180,000 150,000 550,000 47,000 8,000 1,000 300,000 3,000 160,000 80,000 24,000 15,000 1,277,000 1,277,000

Answer rating: 100% (QA)

Roblie Corporation Balance Sheet For the year ended 12312020 A Current Asset Current liabilities Cas... View the full answer