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Part 1. The company Muebles de la Montaa has in its ledger the following transactions. Performs a multiple-step income statement. ACCOUNT BALANCE ACCOUNT BALANCE Cash
Part 1. The company Muebles de la Montaa has in its ledger the following transactions. Performs a multiple-step income statement.
ACCOUNT | BALANCE | ACCOUNT | BALANCE |
Cash | $75,000 | Sales | $1,650,000 |
Accumulated Depreciation-Truck | 15,000 | Account Receivable | 50,000 |
Building | 550,000 | Note Payable | 45,000 |
Truck | 35,000 | Joe Doe, Capital | 500,000 |
Cost of Merchandise Sold | 650,000 | Joe Doe, Drawings | 20,000 |
Advertising Expense | 12,000 | Administrative Expense | 3,300 |
Utilities Expense | 1,200 | Telephone Expense | 2,000 |
Supplies | 4,500 | Salaries Expense | 29,000 |
Salaries Payable | 3,000 | Equipment | 26,000 |
Part 2. Prepare a single-step income statement from a computer sales and equipment rental company.
ACCOUNT | BALANCE |
Sales | $ 6,110,760 |
Interest Expense | 1,550 |
Administrative Expense | 10,500 |
Cost of Merchandise Sold | 3,550,000 |
Advertising Expense | 3,500 |
Rent Revenue | 24,000 |
Merchandise Inventory | 7,000,000 |
Utilities Expense | 4,500 |
Part 3. Prepare a multiple-step income statement for an auto parts sales company.
Accumulated Depreciation-Building | $18,000 | Account Receivable | $52,000 |
Building | 500,000 | Note Payable | 54,000 |
Sales | 8,020,000 | Joe Doe, Capital | 800,000 |
Cost of Merchandise Sold | 620,000 | Joe Doe, Drawings | 18,000 |
Merchandise Inventory | 230,000 | Administrative Expense | 7,500 |
Utilities Expense | 1,700 | Telephone Expense | 2,000 |
Supplies | 4,800 | Salaries Expense | 15,000 |
Salaries Payable | 9,000 | Equipment | 30,000 |
Parte 2. Prepara un estado de ingesos y gastos de una sola etapa (single-step income statement) de una compafia de venta de computadoras y renta de cquipos. Parte 3. Prepara un estado de ingresos y gastos de etapas mltiples (nnutipie-step incane statement) de una cormbaia de venta de piecas de auto
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