Question: Using the information below, need to: a) Make a Balance Sheet in Good Form b) Make an Income Statement in Good Form c) Make a

Using the information below, need to:

a) Make a Balance Sheet in Good Form

b) Make an Income Statement in Good Form

c) Make a statement of Equity

Using the information below, need to: a) Make a Balance Sheet inGood Form b) Make an Income Statement in Good Form c) Makea statement of Equity F D E Must be in the properformat I really really love Accouting Debit Credits 60,000 22,300 95,000 A

F D E Must be in the proper format I really really love Accouting Debit Credits 60,000 22,300 95,000 A B 8 9 10 Company Name 11 As of October 1, 2021 12 13 14 15 Cash 16 Short term Investment 17 Accounts Receivable 18 Allowance for Doubtful Accounts 19 Additional Paid in Capital - Preferred 20 Inventory 21 Automobiles 22 Buildings 23 Land 24 Equipment 25 Accumulated Dep - Building 26 Accumulated Dep - Equipment 27 Accumulated Dep - Automobiles 28 Patent 29 Sales 30 Sales Returns 31 Non Controlling Interest 4,800 16,000 165,000 32,000 425,000 250,000 115,000 261,000 75,000 19,000 3,000 375,000 5,000 3,500 E F F D 150,000 52,000 13,000 200,000 284,000 233,750 27,000 A B 32 Cost of Goods Sold 33 Accounts Payable 34 Wages Payable 35 Long-Term Note 36 Retained Earnings, Beginning 37 Common Stock 38 Additional Paid in Capital- Common 39 Treasury Stock 40 Wage Expense 41 Rent Expense 42 Utilities Expense 43 Employee Benefit Expense 44 Advertising Expense 45 Preferred Stock 46 Credit Card Expense 47 Sales Discount 48 Supplies Expense 49 Accumulated Comprehensive Income 50 Amortization Expense (First year on Patent) 51 Insurance Expense 52 Rental Revenue 53 Interest Expense 54 Dues Expense 55 Unearned Revenues 4,000 41,000 12,000 8,000 5,000 7,500 40,000 42,000 3,100 5,400 6,000 500 5,800 5,000 2,750 7,000 5,400 E F D 7,000 8,200 A B Prepaid Insurance - Current Auto Expense Interest Income Good Will Additional Paid in Capital - Treasury 1,200 142,000 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 6. List the expenses in order of magnitude (biggest first) 7. A cash dividend for $17,000 was declared on 9-29-2021 to be paid 9-30-2021 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

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!