PR 5-5A Multiple-Step Income Statement and Balance Sheet Obj. 4 ...

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Accounting

PR 5-5A
Multiple-Step Income Statement and Balance Sheet
Obj. 4
The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31,20Y2:
Cash
Accounts Receivable
Inventory
Estimated Returns Inventory
Office Supplies
Prepaid Insurance
Office Equipment
Accumulated Depreciation-Office Equipment
Store Equipment
Accumulated Depreciation-Store Equipment
Accounts Payable
Salaries Payable
Customer Refunds Payable
Estimated Coupons Payable
Note Payable (final payment due in 6 years)
Instructions
\table[[$240,000 Common Stock,$00,000
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