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Hello, I need you to prepare TRIAL BALANCE for December 31, 2012, and ALL JOURNAL ENTRIES, Using Income Statement and Statement of Financial Position. Information
Hello, I need you to prepare TRIAL BALANCE for December 31, 2012, and ALL JOURNAL ENTRIES, Using Income Statement and Statement of Financial Position. Information Attached in the Picture. Thank you!!
The income statement and balance sheet for the current year, prepared by the accounting firm of Stanley & Livingstone, CPAs, appear below: WALK UPRIGHT COMPANY INCOME STATEMENT For the Year Ending December 31, 2012 Revenue: Sales (net) Cost of goods sold.. $ 875,360 1359,892) Gross profit $ 515,468 Operating expenses: Wages to employees Guaranteed payment to Lucy March Rental expense Interest expense Advertising.. Contributions to United Way Depreciation expense.. Taxes Shipping Repairs and maintenance. $ 133,260 39,125 62,175 23,495 41,315 3,912 17,656 18,083 23,449 804 .. Total operating expenses... Net Income from Operations $(368,274) $ 147,194 Other incomes and expenses: Dividend income Interest income Interest expense related to investments Net loss on sale of investments Net loss on sale of business assets S 9,391 3,326 (14,976) (6,066) (16.384 (24.709) Net Income The income statement and balance sheet for the current year, prepared by the accounting firm of Stanley & Livingstone, CPAs, appear below: WALK UPRIGHT COMPANY INCOME STATEMENT For the Year Ending December 31, 2012 Revenue: Sales (net) Cost of goods sold.. $ 875,360 1359,892) Gross profit $ 515,468 Operating expenses: Wages to employees Guaranteed payment to Lucy March Rental expense Interest expense Advertising.. Contributions to United Way Depreciation expense.. Taxes Shipping Repairs and maintenance. $ 133,260 39,125 62,175 23,495 41,315 3,912 17,656 18,083 23,449 804 .. Total operating expenses... Net Income from Operations $(368,274) $ 147,194 Other incomes and expenses: Dividend income Interest income Interest expense related to investments Net loss on sale of investments Net loss on sale of business assets S 9,391 3,326 (14,976) (6,066) (16.384 (24.709) Net IncomeStep by Step Solution
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