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Can you create an Income Statement for Dec. 31 2022? Debit Credit Accounts payable ........................................................ $180,000 Accounts receivable .................................................... $600,000 Other Accrued liabilities $100,000 Accumulated
Can you create an Income Statement for Dec. 31 2022? | ||
Debit | Credit | |
Accounts payable ........................................................ | $180,000 | |
Accounts receivable .................................................... | $600,000 | |
Other Accrued liabilities | $100,000 | |
Accumulated depreciation ................. | $300,000 | |
Additional paid-in capital ............................................ | $260,000 | |
Allowance for doubtful accounts ................................ | $100,000 | |
Cash ............................................................................. | $500,000 | |
Common stock, $10 par .............................................. | $320,000 | |
Long-term bonds payable ........................................ | $200,000 | |
Inventories .................................................................. | $850,000 | |
Short-term Investment securities (reported at market; cost, $142,000) ............................................. | ||
$150,000 | ||
Note payable, 5-year .................................................. | $600,000 | |
Property and equipment ............................................ | $820,000 | |
Retained earnings ....................................................... | $890,000 | |
Revenue .. | $500,000 | |
Cost of Goods Sold .. | $350,000 | |
Salaries expense | $80,000 | |
Rent expense .. | $32,000 | |
Advertising expense ... | $8,000 | |
Dividends ... | $60,000 | |
Totals | 3,450,000 | 3,450,000 |
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