50.1K

Verified Solution

Link Copied!

Book1 - Excel David Delrio - 0 x Share File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do H21 A B C D E F R S T U V W 412.799.00 SO CULOU 350,000.00 42,000.00 53,000.00 2,440,000.00 G H I J K L M N O P Q Additional info. 1 Accounts payable is related to inventory all sales made in cash 2 Bonds payable are 5 year, 8% bonds that were issued January 1, 2019 for 287,500. discount on straight line method 3 two year insurance polixy WAS Aquired by straight line method 4 Shortlerin investments are equity investments 5 short term investments that were purchased for 30,000 were sold for cash G Right of usc ascct relates to equipment that client leased on december 31, 2019 on 5 year financial lease annual lease payment is 16,645 made first payment on december 31 Ras of december 31 the current portion of the lease liability is 11442 244.000.00 60,000.00 13,500.00 30,000.00 88,500.00 300.000.00 43.355.00 Question. Prepare Income Statement (multiple step), classified Balance sheet, and statement of retained earnings. 10,000.00 2 Cash 3 Accounts Recalveable 4 Inwentary 5 Prepaid Insurance 5 Short term investments 7 PPE 8 Accumalated Lepreciation 4 Right of Asset 10 patent 11 Accounts Payable 12 Income Tax Payable 12 Bonds payable 14 Iesp liability 15 Discount on Bunds Payable 16 Common Stock 17 PIC CS 18 Retained Earings 19 20 Sul Revenue 21 Dividends declared 22 Gain on slac of short term investments 23 Cost of goods sold 24 depreciation expense 25 Income tax expense 26 insurance expense 27 Interest expense 26 salary expense 29 tilities expense Total 500,000.00 1.655,000.00 8.721.685.00 15,000.00 6,750.00 4,5/5,750.00 244,000.00 335,000.00 42,000.00 26,500.00 2.370,012.00 449.738.an 11.589.290.00 11.589.290.00 32 14 36 Income Statment Trial Balance Balane Sheet + Readly E -- F + 72% 7:38 PM 12/13/2019 Type here to search

Answer & Explanation Solved by verified expert

See Answer