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hello I need help please! HW Problem 11.4 - Given the following account balances, prepare financial statements for Carter Company as of 12/31/X2 (the balance
hello I need help please!
HW Problem 11.4 - Given the following account balances, prepare financial statements for Carter Company as of 12/31/X2 (the balance sheet should be classified and income statement multi-step). Accounts Payable 200 Machinery Allowance Doubtful Accounts 2 Notes Payable (5/8/X3) Accounts Receivable 20 Notes Receivable (11/2/X5) Accumulated Deprec-Bldg 600 Paid in Capital in Excess Par - Common Bad Debt Expense 2 Patent Bond Payable (8/9/X9) 1,200 Preferred Stock Building 1.000 Prepaid Rent Cash 410 Rent Expense Cost of Goods Sold 200 Research & Development Common Stock 75 Retained Earnings 1/1/X2 Copyright 100 Sales Discount on Bond Payable SO Sales Discounts Depreciation Expense 100 Sales Returns & Allowances Dividends 150 Supplies Estimated Warranty Liability 10 Supplies Expense Gain on Sale 50 Trademark Goodwill 10 Treasury Stock Interest Expense 25 Unearned Revenue Interest Revenue 5 Wage Expense Inventory 100 Wages Payable Land 620 Warranty Expense Land (held for speculation) 100 Taxes Payable Loss on Sale 15 50 158 100 300 20 70 100 200 5 110 2,000 4 10 10 10 180 185 50 1,200 100 4 50 50
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