4) You are recent graduate of a university and you have been hired as the Controller for Tri Cities Enterprises Ltd. You are required to prepare the multistep income statement from a list of accounts prepared by a junior clerk. First you need to prepare a trial balance and then the multistep income statement. (18 marks)

Below is the list of accounts for Tri Cities Enterprises Ltd.

Part A - Prepare the trial balance for December 31, 2020 for Tri Cities Enterprises Ltd. (11)

Part B - Prepare the multistep income statement for December 31, 2020 for Tri Cities Enterprises Ltd. (7)

4) You are recent graduate of and you have been hired as the Controller for Tri Cities Enterprises Ltd. You are required to prepare the multistep income statement from a list of accounts prepared by a junior clerk. First you need to prepare a trial balance and then the multistep income statement. (18 marks) Below is the list of accounts for Tri Cities Enterprises Ltd. Accounts Accounts payable Accounts receivable Accumulated depreciation Equipment Cash Common Shares Capital Cost of Goods Sold Deferred revenue Depreciation expense Dividends Long-term bonds payable Loss on Disposal of Equipment Prepaid rent Rent expense Retained Earnings Salary expense Salary payable Sales Revenue Selling expenses Supplies expense Supplies Amount 2,000 2,400 2,000 4,000 1,600 3,000 114,000 800 7,000 1,000 2,200 1,000 800 14,000 3,000 5,000 1,000 140,000 2,000 1,000 200