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How should I create a Multistep Income Statement, Retained Earnings Statement, and Balance Sheet for this Trial Balance? Wood Design Center Trial Balance For Year
How should I create a Multistep Income Statement, Retained Earnings Statement, and Balance Sheet for this Trial Balance?
Wood Design Center Trial Balance For Year Ended 12/31/20 Credit Debit 9,627 2,730 7,647 6,671 3,500 12,039 3,675 10000 . Checking 10200 Savings 11000 Accounts Receivable 12100 Inventory Asset 13200 Prepaid Rent 15000 Furniture and Equipment 16000 Vehicles 20000 Accounts Payable 21000 RiverBank Visa 24000 Payroll Liabilities 25500 Sales Tax Payable 26000 Loan - Equipment (Comp System) 28300 Loan - Furniture (Office) 30000 - Opening Balance Equity 32000 . Owners Equity 41100 - Clothing Income 48910 Returned Check Charges 49000 Less Discounts Given 50000. Cost of Goods Sold 60300. Bad Debt Expense 61500. Job Materials 61700. Computer and Internet Expenses 62400 Depreciation Expense 63300. Insurance Expense 64900 Office Supplies 66000 Payroll Expenses 67100 Rent Expense 67200 Repairs and Maintenance 68600. Utilities 42600. Interest Income 70000 . Other Income TOTAL 1,800 550 25 248 8,950 2,639 27,815 2,000 13,754 40 17 1,457 375 464 625 825 671 Sil*510 2,852 2,900 598 656 12 5 57,838 57,838 Notes: 1st year of Business Both Loans are Long Term Loans Create a Multistep Income Statement Create a Retained Earnings Statement Create a Balance SheetStep by Step Solution
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