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I need help with parts B & C of this problem. Please see 3 attachments. The first one is the information given for the problem
I need help with parts B & C of this problem. Please see 3 attachments. The first one is the information given for the problem and the answers for Part A. Also note, the accounts listed at the end of document that must be used for parts b and c. You will see a separate attachment for each- part B and part C. I need this in the next 3 hours.
Problem 4-4 (Part Level Submission) The following account balances were included in the trial balance of Twain Corporation at June 30, 2014. Sales revenue Sales discounts Cost of goods sold Salaries and wages expense (sales) Sales commissions Travel expense (salespersons) Delivery expense Entertainment expense Telephone and Internet expense (sales) Depreciation expense (sales equipment) Maintenance and repairs expense (sales) Miscellaneous selling expenses Office supplies used Telephone and Internet expense (administration) The Retained Earnings account had a balance of $340,400 at July 1, 2013. There are 79,800 shares of common stock outstanding. *(a) Your answer is partially correct. Using the multiplestep form, prepare an income statement and a retained earnings statement for the year ended June 30, 2014. (List items that increase retained earnings first. Round earnings per share to 2 decimal places, e.g. 1.48.) For the Year Ended June 30, 2014 Sales Sales Revenue Less: Sales Discounts Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit / (Loss) Operating Expenses Selling Expenses Sales Commissions Salaries and Wages Expense Travel Expense Delivery Expense Entertainment Expense Telephone and Internet Expense Maintenance and Repairs Expense Depreciation Expense Bad Debt Expense Miscellaneous Selling Expenses Total Selling Expenses Administrative Expenses Maintenance and Repairs Expense Property Tax Expense Depreciation Expense Supplies Expense Telephone and Internet Expense Office Expenses Total Administrative Expenses Income from Operations Other Expenses and Losses Dividend Revenue Interest Expense Income Before Income Tax Income Tax Expense Net Income / (Loss) Earnings Per Common Share TWAIN CORPORATION Retained Earnings Statement For the Year Ended June 30, 2014 Retained Earnings, July 1, 2013, as Reported Correction of Depreciation Understatement Retained Earnings, July 1, 2013, as Adjusted Add: Net Income / (Loss) Less: Dividends Declared on Preferred Stock Dividends Declared on Common Stock Retained Earnings, June 30, 2014 Attempts: 3 of 3 used Problem 44 (Part Level Submission) Accumulated DepreciationEquipment Administrative Expenses Bad Debt Expense Cost of Goods Sold Delivery Expense Depreciation Expense Entertainment Expense Equipment Extraordinary ItemCasualty loss Extraordinary ItemGain on Sale of Plant Extraordinary ItemLoss from Earthquake Damage Income Tax Expense Interest Expense Interest Revenue Maintenance and Repairs Expense Miscellaneous Selling Expenses Mortgage Payable Net Sales Office Expense Other Administrative Expenses Property Tax Expense Rent Revenue Salaries and Wages Expense Salaries and Wages Payable Sales Commission Sales Discounts Sales Returns and Allowances Sales Revenue Selling Expenses Telephone and Internet Expense Travel ExpenseStep by Step Solution
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