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Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year
Multiple-step income statement and balance sheet
The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 20Y7:
Account | Amount |
---|---|
Cash | $118,400 |
Accounts Receivable | 318,500 |
Inventory | 359,900 |
Estimated Returns Inventory | 5,000 |
Office Supplies | 11,200 |
Prepaid Insurance | 8,600 |
Office Equipment | 260,600 |
Accumulated DepreciationOffice Equipment | 177,100 |
Store Equipment | 813,400 |
Accumulated DepreciationStore Equipment | 260,600 |
Accounts Payable | 177,300 |
Salaries Payable | 11,500 |
Customer Refunds Payable | 10,000 |
Estimated Coupons Payable | 3,000 |
Note Payable (final payment due in 20 years) | 377,500 |
Common Stock | 70,600 |
Retained Earnings | 521,900 |
Dividends | 70,900 |
Sales | 4,336,800 |
Cost of Goods Sold | 2,508,500 |
Sales Salaries Expense | 705,400 |
Advertising Expense | 194,000 |
Depreciation ExpenseStore Equipment | 37,800 |
Miscellaneous Selling Expense | 16,600 |
Office Salaries Expense | 385,100 |
Rent Expense | 56,900 |
Insurance Expense | 17,600 |
Depreciation ExpenseOffice Equipment | 28,400 |
Office Supplies Expense | 10,400 |
Miscellaneous Administrative Expense | 7,600 |
Interest Expense | 11,500 |
I am stuck on the statement of stockholders' equity.
2. Prepare a statement of stockholders' equity. Additional common stock of $7,500 was issued during the year ended June 30 , 20Y7. Kanpur Co. Statement of Stockholders' Equity For the Year Ended June 30, 20Y7Step by Step Solution
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