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8. Prepare (a) a multi-step income statement, (b) a statement of owner's equity, and (c) a balance sheet in re- port form from the following
8. Prepare (a) a multi-step income statement, (b) a statement of owner's equity, and (c) a balance sheet in re- port form from the following data for Burt Co., taken from the ledger after adjustments on December 31, the end of the fiscal year. The accounts are not in trail balance order. Your job is to place the correct accounts in the financial statements in which they belong in the correct format! Accounts Payable- Accounts Receivable Accumulated Depreciation Office Equipment Accumulated DepreciationStore Equipment- Administrative Expenses Cash- Cost of Merchandise Sold- Interest Expense- Maeve Burt, Capital Maeve Burt, Drawing Merchandise Inventory Note Payable (due in two years). Office Equipment: Prepaid Insurance Rent Revenue- Salaries Payable- Sales Selling Expenses Store Equipment- Supplies $97,200- 64,300+ 72,750 162,100 56,500+ 53,000- 121,700- 12,000+ 81,750- 52,000+ 93,250- 154,000- 149,750- 6,500+ 17,500- 28,700- 365,500 41,500- 325,000- 4,000
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