Question: Prepare (a) a single-step income statement, (b) a statement of stockholders' equity, and (c) a balance sheet in report form from the following data
Prepare (a) a single-step income statement, (b) a statement of stockholders' equity, and (c) a balance sheet in report form from the following data for CBEA CSU Co., taken from the ledger after adjustment on December 31, 2020 the end of the fiscal year. Accounts Payable Accounts Receivable Accumulated Depreciation - Office Equipment P 47,200 64,300 22,750 Accumulated Depreciation - Store Equipment 62,100 Administrative Expenses 75,500 Capital Stock 141,750 Cash 39,700 Cost of Merchandise Sold 545,000 Dividends 42,000 Interest Expense 9,000 Merchandise Inventory 93,250 Note Payable, Due 2008 50,000 Office Equipment 49,750 Prepaid Insurance 6,500 Rent Revenue 7,500 Salaries Payable 3,700 Sales (net) 820,500 Selling Expenses 101,500 Store Equipment 125,000 Supplies 4,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
