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Begin with a Multi-step Income Statement followed by a Classified Balance Sheet ending with a statement of Cash Flows using the information provided. Account Title12/31/20232022CommentAccounts
Begin with a Multi-step Income Statement followed by a Classified Balance Sheet ending with a statement of Cash Flows using the information provided.
Account Title12/31/20232022CommentAccounts Payable1010 Accounts Receivable5043 Accrued Expenses Payable3542 Accumulated Depreciation10090 Additional Paid-in Capital in Excess of par110105 Administrative Expense30--no 2022Available-for-sale securities9095 Buildings115115 Cash??302023 needs to be calculated in SCFCommon Stock ($2 par/share)9060new shares were issued September 1, 2023Cost of Goods Sold490--no 2022Cumulative Comprehensive Income Items4045 Deferred Revenue---deposits by customers11 Depreciation Expense10--no 2022Dividend Revenue15--no 2022Dividends declared on common stock6--no 2022Dividends paid on preferred stock4--no 2022Dividends Payable50 Equipment7035 Franchise2626 Gain (gross) on asset sale of discontinued division40--gross gainGain on sale of trading securities3--no 2022Goodwill7575 Hold-to-maturity securities4040 Income tax payable3030 Income Tax Provision--expense??--taxes at 30%Interest Expense28--no 2022Inventories6565 Interest Revenue7--no 2022Land3535 Land held for expansion6060 Operating Loss (gross) of discontinued division35--grossNote Payable in 20305046 Note Payable in 20243535 Paid additional taxes assessed for 2020,net30--net of tax refundPatent2929 Pension Obligation8080 Preferred Stock ($5 par), 10% dividend7070 Rearrange & Restructure Operations Costs3--no event in 2022Retained Earnings ?85compute 2023 Sales Returns20--no 2022Sales Revenue400--no 2022Selling Expense280--no 2022Trading Securities7065no security purchases or revaluation in 2022Unrealized Loss on Available-for-saleSecurities5--no 2022Step by Step Solution
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