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10 [35 points] Bentley Inc. began operations several years ago. Bentley Inc.'s closing entries at April 30, 2014 are shown below. Use this information to
10 [35 points] Bentley Inc. began operations several years ago. Bentley Inc.'s closing entries at April 30, 2014 are shown below. Use this information to prepare a classified multi-step income statement for the year ending April 30, 2014. Date General Journal Account/Explanation F Debit Page GJ1 Credit 30/Apr Rent Earned.. 217,500 Sales.. 397,000 Income Summary... 614,500 Close temporary credit balance accounts + 30/Apr Income Summary... 546,500 Advertising Expense... 39,500 Cost Of Goods Sold. 103,500 Depreciation Expense, Office Equipment 8,000 Depreciation Expense, Store Equipment. 12,500 Income Taxes Expense. 17,000 Insurance Expense. 10,000 Interest Expense 38,000 Office Salaries Expense... 54,500 Office Supplies Expense.. Sales Discounts Sales Returns and Allowances. Sales Salaries Expense... Store Supplies Expense... Close temporary debit balance accounts 30/Apr Income Summary... 68,000 Retained Earnings 68,000 Close income summary 30/Apr Retained Earnings... Dividends Close dividends 26,500 26,500 44,500 22,500 38,500 92,500 65,500 (select one) Income Statement (select one)
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