Can anyone help me with the accounting problems attached below. I have attached question 13 (part 1,2&3), 14 (part 1&2). Thank you
* Question 13 You are provided with the following information for Vaughn Manufacturing, effective as of its April 30, 2017, year-end. Accounts payable 3*; 909 Accounts receivable 975 Accumulated depreciationequipment 670 Cash 1,435 Common stock 1,395 Cost of goods sold 1,135 Depreciation expense 26D Dividends 400 Equipment 2,585 Income tax expense 240 Income taxes payable 210 Insurance expense 285 Intergt expense 475 Inventory 1,132 Land 3,265 Mortgage payable 3,665 Notes payable 226 Prepaid insurance 135 Retained earnings (beginning) 1,600 Salaries and wages expense 625 Salaries and wages payable 297 Sales revenue 5,265 Stock investments (short-term) 1,290 Prepare an income statement for Vaughn Manufacturing for the year ended April 30, 2017. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Vaughn Manufacturing Income Stateme $ 11 +4Prepare a retained earnings statement for Vaughn Manufacturing for the year ended April 30, 2017. (List items that increase retained earnings first.) Vaughn Manufacturing Retained Earnings Statement $ Prepare a classified balance sheet for Vaughn Manufacturing as of April 30, 2017. (List current assets in order of liquidity.) Vaughn Manufacturing Balance Sheet Assets $Question 14 An inexperienced accountant prepared this condensed income statement for Cullumber Company, a retail firm that has been in business for a number of years. CULLUMBER COMPANY Income Statement For the Year Ended December 31, 2017 Revenues Net sales $1,275,000 Other revenues 33,000 1,308,000 Cost of goods sold 832,500 Gross profit 475,500 Operating expenses Selling expenses 163,500 Administrative expenses 154,500 318,000 Net earnings $157,500 As an experienced, knowledgeable accountant, you review the statement and determine the following facts. 1. Net sales consist of sales $1,366,500, less freight-out on merchandise sold $49,500, and sales returns and allowances $42,000. 2. Other revenues consist of sales discounts $27,000 and rent revenue $6,000. 3. Selling expenses consist of salespersons' salaries $120,000, depreciation on equipment $15,000, advertising $19,500, and sales commissions $9,000. The commissions represent commissions paid. At December 31, $4,500 of commissions have been earned by salespersons but have not been paid. All compensation should be recorded as Salaries and Wages Expense. 4 Administrative expenses consist of office salaries $70,500, dividends $27,000, utilities $18,000, interest expense $3,000, and rent expense $36,000, which includes prepayments totaling $9,000 for the first quarter of 2018.Prepare a correct detailed multiple-step income statement. Assume a 25% tax rate. (List other revenues before other expenses. Round answers to 0 decimal places, e.g. 5,125. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) CULLUMBER COMPANY Income Statement v
