78 (17 points 79 80 81 Baxter Company Balance Sheet June 30, 20X2 82 Assets 83 84 Be sure to 85 86 87 88 89 90 91 92 93 94 95 Total Assets 96 97 Liabilities 98 99 100 101 102 103 Total Liabilities 104 105 Stockholders' Equity 106 107 108 Total Stockholders' Equity 109 Total Liabilities and Stockhoders' Equity 110 (7 points) Baxter Company Multistep Income Statement For year ended June 30, 20X2 Baxter Company Statement of Stockholders' Equity For year ended June 30, 20X2 Total Common Stock Retained Earnings Balances July 1, 20X1 There were no additional shares of common stock issued during the year. 17 points (one for each adjustment) 5 points 5 points 5 points Income Statement Debit Credit Cash Accounts Receivable Inventory Estimated Returns Inventory Store Supplies Prepaid Insurance Store Equipment Accum. Depreciation Accounts Payable Salaries Payable Customer Refunds Payable Unearned Rent tector Common Stock Retained Earnings Dividends Sales sales Rent Revenue Costa Cost of Goods Sold Office Salaries Expense Sales Salaries Expense Store Supplies Expense Rent Expense Dep. Exp. - Store Equip. Insurance Expense Interest Expense Misc. Selling Expense Misc. Admin. Expense Trial Balance Debit Credit 15,000.00 11,900,00 20,000.00 1,500.00 900.00 1.250.00 23,000.00 2,300.00 6,300.00 500.00 6,650.00 12,000.00 40,000.00 6,000.00 1,200.00 19,000.00 2,000.00 7,500.00 3,000.00 2,200.00 Baxter Company Worksheet For year ended June 30, 20X2 Adjustments Adj. Trial Balance Debit Credit Debit Credit 15,000.00 3,200.00 15,100.00 160.00 19,840.00 1,500.00 820.00 80.00 96.00 1,154.00 23,000.00 240.00 2,540.00 6,300.00 400.00 900.00 6,650.00 400.00 11,600.00 40,000.00 6,000.00 1,200.00 3,200.00 22,200.00 400.00 2,400.00 160.00 7,600.00 3,000.00 400.00 2,600.00 820.00 820.00 2,200.00 240.00 940.00 96.00 396.00 1,000.00 1,500.00 1,600.00 Balance Sheet Debit Credit 15,000.00 15,100.00 19,840.00 1,500.00 80.00 1,154.00 23,000.00 2,540.00 6,300.00 900.00 6,650.00 11,600.00 40,000.00 6,000.00 1,200.00 22,200.00 2,400.00 2.200,00 700.00 300.00 1,000.00 1,500.00 1,600.00 7,660.00 3,000.00 2,600.00 820.00 2,200.00 940.00 396.00 1,000.00 1,500.00 1,600.00 94,750.00 94,750.00 5,316.00 5,316.00 98,590.00 98,590.00 Total Net Income Total 2 2,884.00 24,600.00 2,884.00 76,874.00 24,600.00 76,874.00