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4. Which type of income statement shows intermediate balances? Multiple-Step Income Statement and Report Form of Balance Sheet The following selected accounts and their current
4. Which type of income statement shows intermediate balances?
Multiple-Step Income Statement and Report Form of Balance Sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2019 Cash Accounts Receivable Merchandise Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation-Office Equipment Store Equipment Accumulated Depreciation-Store Equipment Accounts Payable Customer Refunds Payable Salaries Payable Note Payable (final payment due 2032) Gerri Faber, Capital $74,800 4,517,400 2,647,200 744,400 204,700 39,900 17,500 406,400 60,000 18,600 30,000 11,000 8,000 12,200 125,000 Gerri Faber, Drawing 333,200 Sales 379,800 Cost of Merchandise Sold 15,000 Sales Salaries Expense 11,800 Advertising Expense 9,100 275,000 186,900 858,300 275,000 190,300 30,000 12,200 Depreciation Expense-Store Equipment Miscellaneous Selling Expense Office Salaries Expense Rent Expense Insurance Expense Depreciation Expense-Office Equipment Office Supplies Expense Miscellaneous Administrative Exp 400,000 Interest Expense 670,100
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