Raji's Hardware's trial balance at its year end of December 31, 2021, is provided below. Raji's...

 

Transcribed Image Text:

Raji's Hardware's trial balance at its year end of December 31, 2021, is provided below. Raji's uses the perpetual inventory system. A count of the inventory on hand shows the actual amount on hand is $ 26,500. All other year-end adjusting entries have been made. RAJI'S HARDWARE Trial Balance December 31, 2021 Cash.. $ 3,500 9.250 Accounts receivable Merchandise invetory. Long-term investment Accounts payable. Interest payable. Note payable, due 2024. J. Raji, Capital. J. Raji, Drawings. Sales Sales returns and allowances. Sales discounts. 26,100 10,000 S 11,100 100 5,000 10,270 6,000 195,000 620 300 Cost of goods sold. Salaries expense. Advertising expense. Rent expense Interest expense. 122,500 26,000 4,500 12,600 100 $.221.470 $.221.470 Instructions a) Prepare a multiple-step income statement for Raji's Hardware. Raji's Hardware's trial balance at its year end of December 31, 2021, is provided below. Raji's uses the perpetual inventory system. A count of the inventory on hand shows the actual amount on hand is $ 26,500. All other year-end adjusting entries have been made. RAJI'S HARDWARE Trial Balance December 31, 2021 Cash.. $ 3,500 9.250 Accounts receivable Merchandise invetory. Long-term investment Accounts payable. Interest payable. Note payable, due 2024. J. Raji, Capital. J. Raji, Drawings. Sales Sales returns and allowances. Sales discounts. 26,100 10,000 S 11,100 100 5,000 10,270 6,000 195,000 620 300 Cost of goods sold. Salaries expense. Advertising expense. Rent expense Interest expense. 122,500 26,000 4,500 12,600 100 $.221.470 $.221.470 Instructions a) Prepare a multiple-step income statement for Raji's Hardware.

Answer rating: 100% (QA)

Rajis Hardware MultiStep Income Statement For the Year Ended December 312021 In 195000 ... View the full answer