Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4. Prepare a multiple-step income statement for the period ended January 31, Year 1. Multiple-Step Income Statement For the month ended January 31, Year 1

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
4. Prepare a multiple-step income statement for the period ended January 31, Year 1. Multiple-Step Income Statement For the month ended January 31, Year 1 $ 0 Expenses Total Operating Expenses 0 $ Required information UUDUCUDrone January 31, Year 1 Accounts Credit Debit $ 2,200 240,600 $ 9,380 Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Utilities Expense Note Receivable Land Equipment Accounts Payable Common Stock Retained Earnings income Tax Payable Salaries Payable interest Receivable Accumulated Depreciation 13,800 18.100 31,200 171,000 21,100 104,200 236,000 103,450 10,600 34 200 + 130 300 No Date January 31 Debit Credit 1 General Journal Depreciation Expense Accumulated Depreciation 300 300 2 January 31 9,242 Bad Debt Expense Allowance for Uncollectible Accounts 9.242 3 January 31 130 Interest Receivable Interest Revenue 130 4 January 31 34200 Salaries Expense Salaries Payable 34 200 5 January 31 10,600 Income Tax Expense Income Tax Payable 10,600 View transaction list View journal entry worksheet FREE No Date General Journal Debit Credit 1 January 01 Equipment Cash 21,100 21,100 1 2 January 04 Accounts Payable Cash 11,100 11,100 3 January 08 98.900 Inventory Accounts Payable 98.900 4 January 15 23,600 Cash Accounts Receivable 23,600 5 January 19 31,400 Salaries Expense Cash 31.400 6 January 28 Utilities Expense 18.100 4 January 15 Cash Accounts Receivable 23,600 23,600 5 January 19 Salaries Expense Cash 31,400 31,400 6 January 28 Utilities Expense Cash 18,100 18.100 7 January 30 Accounts Receivable Sales Revenue 236,000 236,000 8 January 30 123,000 Cost of Goods Sold Inventory 123,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

1119563097, 9781119563099

Students also viewed these Accounting questions