The following accounts, balances, and other financial information are drawn from the records of Vong Company for
Question:
The following accounts, balances, and other financial information are drawn from the records of Vong Company for the year 2011:
The Cash account revealed the following cash flows:
Required
Build an Excel spreadsheet to construct a multistep income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for the year 2011.
Transcribed Image Text:
Net sales revenue $18,800 Beginning common stock $ 9,000 Unearned revenue 2,600 Land 8,000 Accounts receivable 6,000 Certificate of deposit 10,000 Cost of goods sold 6,000 Interest revenue 100 Inventory 5,000 Interest receivable 100 Accounts payable 5,800 Dividends 1,500 Notes payable 6,000 Beginning retained earnings 8,500 Interest expense Interest payable Supplies Supplies expense Office equipment 550 Cash from stock issued 3,000 550 Cash 7,200 50 Gain on sale of land 1,050 750 Loss on sale of property 50 3,500 Salaries expense 1,400 Depreciation expense Accumulated depreciation Transportation-out expense 500 Miscellaneous operating expense 4,500 500 1,000 Rent expense Prepaid rent Salaries payable 400 1,100 100
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