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Multi-step income statement. I know the order but I'm having trouble with my figures Exercise 7-21 Part 4 4. Prepare a multiple-step income statement for

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Multi-step income statement. I know the order but I'm having trouble with my figures

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Exercise 7-21 Part 4 4. Prepare a multiple-step income statement for the period ended January 31, 2021. TNT FIREWORKS Multiple-Step Income Statement For the month ended January 31, 2021 Sales Revenue Cost of Goods Sold 0 Expenses Salaries Expense Utilities Expense Depreciation Expense Bad Debt Expense Total Operating Expenses O Operating Income Interest Revenue 0 0Exercise 7-21 Complete the accounting cycle using long-term asset transactions (LO7-4, 7-7) [The following information applies to the questions displayed below.] On January 1, 2021, the general ledger of TNT Fireworks includes the following account balances: Accounts Debit Credit Cash $ 58, 700 Accounts Receivable 25, 000 Allowance for Uncollectible Accounts $ 2,200 Inventory 36, 300 Notes Receivable (54, due in 2 years) 12,000 Land 155, 000 Accounts Payable 14, 800 Common Stock 220, 000 Retained Earnings 50,000 Totals $287, 000 $287,000 During January 2021, the following transactions occur: January 1 Purchase equipment for $19, 500. The company estimates a residual value of $1, 500 and a five- year service life. January 4 Pay cash on accounts payable, $9, 500. January Purchase additional inventory on account, $82,900. January 15 Receive cash on accounts receivable, $22,000. January 19 Pay cash for salaries, $29, 800. January 28 Pay cash for January utilities, $16,500. January 30 Firework sales for January total $220,000. All of these sales are on account. The cost of the units sold is $115,000

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