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Prepare a classified balance sheet as of January 31, 2021. Descriptions of items that require adjusting entries on January 31, 2019, follow. a. Store supplies still available at fiscal year-end amount to $1,800. b. Expired insurance, an administrative expense, for the fiscal year is $1,420. c. Depreciation expense on store equipment, a selling expense, is $6,000 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $9,590 of inventory is still available at fiscal year-end. A single-step income statement yields the same net income, but does not show the same level of detail/subtotals as the multiple-step income statement. Use the information from the multiple-step income statement to complete the single-step income statement below. income statement. Rent expense and salaries expense are equally divided between selling activities and the general and administrative activities. The fiscal year-end unadjusted trial balance for Brown Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Brown Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2019, follow. a. Store supplies still available at fiscal year-end amount to $1,800. b. Expired insurance, an administrative expense, for the fiscal year is $1,420. c. Depreciation expense on store equipment, a selling expense, is $6,000 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $9,590 of inventory is still available at fiscal year-end. Compute the following ratios as of January 31, 2021. Note: Round each ratio to 2 decimal places. The fiscal year-end unadjusted trial balance for Brown Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Brown Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2019, follow. a. Store supplies still available at fiscal year-end amount to $1,800. b. Expired insurance, an administrative expense, for the fiscal year is $1,420. c. Depreciation expense on store equipment, a selling expense, is $6,000 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $9,590 of inventory is still available at fiscal year-end. Begin by selecting "Adjusted" from the drop-down below. Then, use the adjusted trial balance to prepare a multiple-step income statement. Rent expense and salaries expense are equally divided between selling activities and the general and administrative activities. Prepare a classified balance sheet as of January 31, 2021. Descriptions of items that require adjusting entries on January 31, 2019, follow. a. Store supplies still available at fiscal year-end amount to $1,800. b. Expired insurance, an administrative expense, for the fiscal year is $1,420. c. Depreciation expense on store equipment, a selling expense, is $6,000 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $9,590 of inventory is still available at fiscal year-end. A single-step income statement yields the same net income, but does not show the same level of detail/subtotals as the multiple-step income statement. Use the information from the multiple-step income statement to complete the single-step income statement below. income statement. Rent expense and salaries expense are equally divided between selling activities and the general and administrative activities. The fiscal year-end unadjusted trial balance for Brown Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Brown Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2019, follow. a. Store supplies still available at fiscal year-end amount to $1,800. b. Expired insurance, an administrative expense, for the fiscal year is $1,420. c. Depreciation expense on store equipment, a selling expense, is $6,000 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $9,590 of inventory is still available at fiscal year-end. Compute the following ratios as of January 31, 2021. Note: Round each ratio to 2 decimal places. The fiscal year-end unadjusted trial balance for Brown Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Brown Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2019, follow. a. Store supplies still available at fiscal year-end amount to $1,800. b. Expired insurance, an administrative expense, for the fiscal year is $1,420. c. Depreciation expense on store equipment, a selling expense, is $6,000 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $9,590 of inventory is still available at fiscal year-end. Begin by selecting "Adjusted" from the drop-down below. Then, use the adjusted trial balance to prepare a multiple-step income statement. Rent expense and salaries expense are equally divided between selling activities and the general and administrative activities

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