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2. a) Using the following information for Lestrade Enterprises, prepare an annual: Multiple-step income statement Retained earnings statement Classified balance sheet (7 points) Lestrade
2. a) Using the following information for Lestrade Enterprises, prepare an annual: Multiple-step income statement Retained earnings statement Classified balance sheet (7 points) Lestrade Enterprises, Inc. Adjusted Trial Balance December 31, 2020 Debit Credit Cash 4,000 Accounts Receivable 15,000 Inventory 30,000 Prepaid Insurance 4,000 Supplies 3,000 Long-term Investment in Stock 6,000 Land 20,000 Buildings 120,000 Accumulated Depreciation- Buildings 20,000 Patents 10,000 Accounts Payable 10,000 Unearned Revenue 2,000 Bonds Payable (due in 2025) 20,000 Common Stock 80,000 Retained Earnings 44,000 Dividends Sales Revenue 30,000 305,000 Interest Revenue 5,000 Sales Discounts 6,000 Sales Returns & Allowances 8,000 Cost of Goods Sold 188,000 Salaries and Wages Expense 21,000 Depreciation Expense 10,000 Utilities Expense 5,000 Insurance Expense 3,000 Supplies Expense 2,000 Interest Expense 1,000 486.000 486.000
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