This is worth a maximum of 75 pts
		I will grade hard on this one
		Must be in the proper format
Company Name		I really really love Accouting
As of October 1, 2023
			Debit		Credits
Cash			60,000
Short term Investment			22,300
Accounts Receivable			95,000
Allowance for Doubtful Accounts					4,800
Additional Paid in Capital - Preferred				16,000
Inventory			165,000
Automobiles			32,000
Buildings			425,000
Land			250,000
Equipment			115,000
Accumulated Dep - Building					261,000
Accumulated Dep - Equipment					75,000
Accumulated Dep - Automobiles					19,000
Patent			3,000
Sales					375,000
Sales Returns			5,000
Non Controlling Interest					3,500
Cost of Goods Sold			150,000
Accounts Payable					52,000
Wages Payable					13,000
Long-Term Note					200,000
Retained Earnings, Beginning					284,000
Common Stock					233,750
Additional Paid in Capital- Common				27,000
Treasury Stock			4,000
Wage Expense			41,000
Rent Expense			12,000
Utilities Expense			8,000
Employee Benefit Expense			5,000
Advertising Expense			7,500
Preferred Stock					40,000
Credit Card Expense			42,000
Sales Discount			3,100
Supplies Expense			5,400
Accumulated Comprehensive Income		-		6,000
Amortization Expense (First year on Patent)		500
Insurance Expense			5,800
Rental Revenue					5,000
Interest Expense			2,750
Dues Expense			7,000
Unearned Revenues					5,400
Prepaid Insurance - Current			7,000
Auto Expense			8,200
Interest Income					1,200
Good Will			142,000
Additional Paid in Capital - Treasury				1,900
Totals			1,623,550		1,623,550
Important Notes
1. The income tax rate is 08%
2. '$22,000 of the long-term note payable is due in the current year
3. The investment account is considered short-term in nature
4. At this point no taxes have been accrued
5.When I made this I linked my spreadsheet so you may have some small rounding - up to you
6. List the expenses in order of magnitude (biggest first)
7. A cash dividend for $17,000 was declared on 9-29-2023 to be paid 10-5-23
8. The company uses the LIFO inventory method
9. Based on the Accounts receivble aging method the allowance should be 9,000
10. Annual Depreciation has not been recorded it should be a follows
Building	18,000
Equipment	11,500
Automobile	4,000
Project:
1. Make a Balance Sheet in Good Form
2. Make an Income Statement in Good Form
3 Make a Statement of Equity in Good form
I recommend you do this is excel and simply add a tab for each financial statement
Hint: Good Form means proper headings on each financial