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* * * PLEASE PROVIDE ME THE ANSWERS FOR THE SECTION Adjusted Trial Balance for 2 0 2 3 ( includes the posted amounts of
PLEASE PROVIDE ME THE ANSWERS FOR THE SECTION Adjusted Trial Balance for includes the posted amounts of all entries and adjusting entries
Multistep Income Statement
Retained Earnings Statement
Classified Balance Sheet
Cash Flow Statement
PostClose Trial Balance for
The PostClose Trial Balance for is provided below based on the above balance sheet This can be
used as a starting point, or you can use the above Balance Sheet; leeep in mind all debits and credits
ALWAYS equal AND "REQUIRED LABELED SHEETS IN EXCEL" ALL THROUGH
Additional Information for all entries; please see the posted Excel spreadsheet:
Sales for are $ All sales are on credit.
Gross Margin ratio is percent
Accounts Receivable:
i $ of the accounts receivable is paid by the end of the year the remaining balance
remains on the balance sheet
ii $ of is written off during the year.
iii. of after writeoff and collections is considered
tobe uncollectible.
Inventory:
i Inventory purchases are $ all on credit.
ii All accounts payable is from inventory purchases; all but $ of inventory purchased
is paid by the end of the year.
Additional equipment is purchased on for $ cash. All equipment when new, including the
new purchase, hashad a year life, no salvage value, and is depreciated using the straightline method.
The building depreciates at $ per year.
Half of the marketable securities were sold for $ The FMV and cost of the other half of the
securities are the same at yearend, so an adjustment to FMV at yearend is not required.
Salaries are $ per month months of salaries expense must be booked It is expected that one
half month will be owed on because of when payday falls therefore months of salaries
have been paid and month is still owed to the employees at year end
$ in cash is borrowed on by issuing a Note Payable. Interest is per year.
The bonds were sold at face value last December and pay interest on Dec.
additional shares of stock were sold for $ a share.
Insurance costing $ was purchased on the same time in which the old policy expired. The
new policy was for months
On Dec. shares of stock are repurchased from the market at $share treasury stock
The tax rate is percent. Income taxes for the current year are due and therefore paid during the first
two months of the next year you will have to complete an entry to pay the taxes, however the
taxes will not be paid until the end of January
Dividends of $ were paid during
The uneamed revenue has been earned during the year classified as other revenue on the multistep
income stmt
Required Labeled Sheets in Excel all statements should be for :
Data Sheet for Additional Data
Entries: Basic and Adjusting you do not have to show closing entries, however, keep in mind all
temporary accounts are closed to retained eamings and should not be on your postclose trial balance
This project should be completed using Excel with formulas and linked data The parameters of the project
are below:
Prepare a Multistep Income Statement for the year ended This statement Retained Eamings
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