Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please do all parts 1. Presented below is the adjusted trial balance of the LLL Corporation. Using this data, prepare the following statements: a. Income

image text in transcribed
please do all parts
1. Presented below is the adjusted trial balance of the LLL Corporation. Using this data, prepare the following statements: a. Income Statement (multiple step format); be sure to include the required earnings per share presentation b. Statement of Retained Earnings C. Balance Sheet (classified format) LLL Corporation Adjusted Trial Balance 31-Dec-20 Dehir Credit 104,000 294,000 22.00 2.500 259,500 325.000 115 (1) 531,000 166,00 125,000 Cash Accounts Receivable Allowance for Doubtful Accounts Notes Receivable (due 2/25/21) Inventory. 12/31/17 Equipment Accumulated Depreciation - Equipment Building Accumulated Depreciation - Building Land Accounts Payable Salaries & Wages Payable Notes Payable - Due 5/31/21 Mortgage Payable. Due 12/31/2035 Common Stock, Par S.OL Additional Paid in Capital in Excess of Par Retained Eamings, 12/31/20 Dividends Declared Sales, Net Cost of Goods Sold (COGS) Selling Expenses Administrative Expenses Dividend & Interest Revenue Gain on Sale of Land Income Tax Expense 136,000 6.00 125.00 395,00 10,000 400,000 179,00 15,000 885,000 475.000 165.000 125.000 16,000 10,000 44,000 2,465,000 2,465,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Tools for business decision making

Authors: kimmel, weygandt, kieso

4th Edition

978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461

More Books

Students also viewed these Accounting questions