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Accounting

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Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30 , 20Y7: 1. Prepare a multiple-step income statement. 2. Prepare a statement of stockholders' equity. Additional common stock of $7,500 was issued during the year ended June 30,20Y7. 3. Prepare a balance sheet, assuming that the current portion of the note payable is $7,000. Total property, plant, and equipment Total assets Liabilities Current liabilities: Accounts payable Salaries payable Customer refunds payable payable (current portion) Total current liabilities Long-term liabilities: Note payable (long-term portion) Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total iiablitities and stockholders' equity 1,471,00041,471,000 4. Which type of income statement shows intermediate balances? 4. Which type of income statement shows intermediate balances

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