Part 1 and Pant 21 si2 Descecation fapeion 57 Geir fuppien Cipenie 531 1 weit ropesin 3.3 Iniumace hope-ia Part 8: You must complete parts 1,2,3,4,6 and 7 before attempting to complete part 8. Note: Part 5 is the optional worksheet. 1. Prepare a multinlo-eran an 2. Prepare a statement of stockholders' equity. Assume that additional common stock of $10,000 was issued in January 20 6. 3. Prepare a balance sheet. 3. Prepare a balance sheet. Palisade Creek Co. Balance Sheet May 31, 20Y6 Assets Current assets: Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilities: Liabilities Current liabilities: Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Part 1 and Partz belancos. 110 Cash 212 Customere kofunio payati. 3220 spiecionon Er parian MuJ Store Aplipi Erichsw b71 Minculetwur Seling friptere Ste oltite Sa ariat lroest 117 Prepaid Insurance: 16,800 118 Stare Supplies 11,400 123 Store Equipment 569,500 124 Accumulated Depreciation-5tore Equipment 56,700 210 Accounts Payable 96,600 211 Salaries Payable 212 Customers Refunds Payable 310 Casmmon Stock 311 Retained Eamings 312 Dividends 410 Sales 510 Cost of Goods Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense 523 Store Supplies Expense 529 Miscellaneous Selling Expense. 12,600 530 Otfice Salaries Expense 382,100 531 Rent Expense 83.700 532 Insurance Expense 539 Miscellaneous Administrative Expente 7.800 Part 7: You must complete parts 1,2,3,4 and 6 before completing part 7. Part 5 is the optional work sheet. Prepare an adjusted trial balance, If an amount box does not require an entry, leave it blank. Prepaid Insurance Store Supplies Store Equipment 4,8004,000569,500 Accumulated Depreciation-5tore Equipment Accounts Payable Salaries Payable Customers Refunds Payable Common Stock Retained Eamings 70,70063,15013,60089,270100,000585,300 Dividends Sales Cost of Goods Sold Sales Salaries Expense Advertising Expense Depreciation Expense Store Supplies Expense Miscellaneour Selling Expense Office Salaries Expense Rent Expense Insurance Expense Miscellaneous Administrative Expense Part 8: You must complete parts 1,2,3,4,6 and 7 before attempting to complete part 8 . Note: Part 5 is the optional worksheet. 1. Prepare a multiple-step income statement. 2. Prepare a statement of stockholders' equity. Assume that additional common stock of $10,000 was issued in January 20v6. 3. Prepare a balanra ehant Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilitiest Total liabilities Stockholders' Equity
