Question
2) Snow Industries Inc. listed the following information regarding the asset, liability, shareholders' equity, revenue, and expense accounts in the trial balance as at December
2) Snow Industries Inc. listed the following information regarding the asset, liability, shareholders' equity, revenue, and expense accounts in the trial balance as at December 31, 2019:
Trial Balance | ||
Account | Debit | Credit |
Cash | $ 20,800 |
|
Accounts Receivable | 8,200 |
|
Supplies | 2,500 |
|
Truck | 14,600 |
|
Accounts Payable |
| $6,700 |
Notes Payable (Long-Term) |
| 11,000 |
Common Shares |
| 25,000 |
Retained Earnings |
| 2,700 |
Dividends | 10,200 |
|
Sales Revenue |
| 45,500 |
Cost of Goods Sold | 15,500 |
|
Rent Expense | 7,000 |
|
Utilities Expense | 5,000 |
|
Salary Expense | 4,400 |
|
Interest Expense | 1,500 |
|
Other Expense | 1,200 |
|
Total | $ 90,900 | $ 90,900 |
Prepare a multistrp income statement for Snow for the month ended December 31, 2019
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