Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare a Trial Balance, Multi Step Income Statement, Retained Earnings Statement, and Classified Balance Sheet the values needed are all the way on the left

image text in transcribedPrepare a Trial Balance, Multi Step Income Statement, Retained Earnings Statement, and Classified Balance Sheet

the values needed are all the way on the left in the photo. i started the trial balance (the green chart) but could not get both sides to equal.
ACCT 251 EXCEL ASSIGNMENT - PREPARING FINANCIAL STATEMENTS IN EXCEL (see instructions tab for detailed instructions) Prepare a multi-step income statement: Prepare a retained earnings statement: Prepare a classified balance sheet: 1,001,360 101,360 591,680 Service Revenue Utilities Expense Cash Accounts receivable Common stock Payroll Expense Buildings Other liabilities Interest payable Land Retained earnings Supplies expense Rent expense Dividends Accounts payable Equipment Supplies Salaries payable Notes payable 12/31/17 1,206,580 125.620 151.360 160.000 101.360 704,420 680,000 6,360 1.150 771,360 591,680 17,460 165.170 25,820 202.720 270,000 181,360 141.360 1,001,360 Prepare a trial balance for Porter Company: Porter Company Trial Balance December 31, 2017 1 Cash 151,360 1 Accounts Receivable 160,000 1 Accounts Payable 1 Notes Payable 1 Common Stock 1 Retained Earnings 1 Dividends 25,820 1 Service Revenue 1 Payroll Expense 704,420 1 Supplies Expense 17,460 1 Rent Expense 165,170 1 Buildings 680,000 1 Utilities Expense 125,620 1 Interest Payable 1 Land 771,360 1 Equipment 270,000 1 Supplies 181,360 1 Salaries Payable 1 Other Liabilities 3,252,570 NOTE: A retained earnings statement is the retained earnings column from a statement of stockholder's equity. See example below: 1,206,580 1,150 141,360 6,360 3,049,850 202,720

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

Business Accounting Volume 2

Authors: Frank Wood

4th Edition

0582413435, 978-0582413436

More Books

Students also viewed these Accounting questions