Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Catenas Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit Cash $1,530 Accounts receivable 2,260 Interest receivable 112 Prepaid insurance 1,660 Long-term
Catenas Marketing Company | ||
Adjusted Trial Balance | ||
End of the Current Year | ||
Debit | Credit | |
---|---|---|
Cash | $1,530 | |
Accounts receivable | 2,260 | |
Interest receivable | 112 | |
Prepaid insurance | 1,660 | |
Long-term notes receivable | 3,100 | |
Equipment | 15,890 | |
Accumulated depreciation | $3,120 | |
Accounts payable | 2,520 | |
Dividends payable | 630 | |
Accrued expenses payable | 3,980 | |
Income taxes payable | 1,752 | |
Unearned rent revenue | 530 | |
Common Stock (860 shares) | 86 | |
Additional paid-in capital | 3,680 | |
Retained earnings | 1,520 | |
Sales revenue | 39,880 | |
Rent revenue | 830 | |
Interest revenue | 112 | |
Wages expense | 20,100 | |
Depreciation expense | 1,920 | |
Utilities expense | 404 | |
Insurance expense | 804 | |
Rent expense | 9,120 | |
Income tax expense | 1,740 | |
Total | $58,640 | $58,640 |
Prepare a multistep income statement for the current year. Note: Round your earnings per share to 2 decimal places.
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started