Question
1. Using these final balances, prepare, in a good form, a multi-step income statement for the quarter ended September 30, 2021 for Bourasa, Inc. Prepare
1. Using these final balances, prepare, in a good form, a multi-step income statement for the quarter ended September 30, 2021 for Bourasa, Inc. Prepare your income statement in the blue highlighted designated space.
2. Using these final balances, prepare, in a good form, a statement of stockholders equity for the quarter ended September 30, 2021 for Bourasa, Inc. Prepare your statement in the pink highlighted designated space.
3. Using these final balances, prepare, in a good form, a classified balance sheet for September 30, 2021 for Bourasa, Inc. Prepare your balance sheet in the green highlighted designated space
Presented below are the 09/30/2021 adjusted account balances from Bourassa Inc. It is in the process of preparing its financial statements. Name of account Accounts payable Accounts receivable Accumulated depreciation - plant and equipment Additional paid in capital Allowance for doubtful accounts Bad debt expense Cash Common stock at par? Cost of goods sold Depreciation expense Dividend declared Dividend payable Gain on sale of investments Income tax expense Income tax payable Interest expense Inventory Marketable securities (Investments) Notes payable" Prepaid insurance expense Property, plant and equipment Rent Expense Research and development expense Retained earnings at 6/30/2021 Sales revenue Unearned revenue ? Wage expense Balance $ 50,290 352,066 106,200 305,550 6,000 5,000 123,000 200,000 400,000 100,000 40,500 20,500 7,200 39,522 24,528 9,000 57,400 299,800 550,000 19,500 1,107,000 80,600 164,000 74,250 1,300,000 194,400 41,530 4 Additional information: 1) Premiums related to the remaining 39 months (a $24,000 four-year Policy purchased and paid for in advance on January 1, 2021, with coverage through December 31, 2024) 2) All expected to be earned by September 30, 2022.- 3) $0.05 par value; 4,000,000 shares issued and outstanding throughout the quarter, no changes during the quarter 4) The company intends to sell all securities by June 30, 20224 5) $250,000 due on June 30, 2022, and remainder due on June 30, 20234
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