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help needed. prepare:- 1. multi-step income statement 2. statement of owner's equity 3. classified bal. sheet The Blue Bullet Music, owned by E. Evergreen, sells
help needed. prepare:- 1. multi-step income statement 2. statement of owner's equity 3. classified bal. sheet The Blue Bullet Music, owned by E. Evergreen, sells instruments. The shop has a June 30, 2020 fiscal year end, uses a perpetual inventory system. On June 1, 2020, the company's trial balance reported the following: Cash Merchandise inventory Supplies Sales Returns and Allowances Sales discounts Land Equipment Accumulated depreciation equipment Accounts payable Interest Payable Unearned revenue Notes payable-Due Dec. 2022 Mortgage Payable-Due 2025 $21,385 64,125 3,750 42,800 13,800 180,000 70,800 13,275 12,650 6,070 4,680 42,000 200,000 E. Evergreen, capital E. Evergreen, drawings Sales Rent revenue Cost of goods sold Advertising expense Salaries expense Rent expense Insurance expense Interest expense Accounts Receivable $58,400 52,800 474,080 1,200 301,010 2,270 68,200 18,150 4,140 1,925 20,000 Transaction for the Month During the last month of the fiscal year, the company had the following transactions: 1. Paid $5000 for rent for the month 2. Borrowed $5,000 cash signing a 6 month Note Payable with 5.5% interest to be paid at the note's maturity 3. Purchased supplies on account for $345. 4. Hired a new employee to be paid $1,600 per week. 5. Collected $3,000 of the accounts receivable 6. Owner withdrew $4,800 cash
help needed.
prepare:-
1. multi-step income statement
2. statement of owner's equity
3. classified bal. sheet
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