Question
Presented below is the adjusted trial balance of Turn Into Earth, Inc., as of 12-31-2021. Accounts Debits Credits Cash $ 35,450. Accounts Payable $ 23,780.
Presented below is the adjusted trial balance of Turn Into Earth, Inc., as of 12-31-2021.
Accounts Debits Credits
Cash $ 35,450.
Accounts Payable $ 23,780.
Interest Expense 4,500.
Retained Earnings 47,720.
Prepaid Office Rent Expense 32,700.
Merchandise Inventories 75,250.
Gain on sale of delivery truck 27,000.
Bonds Payable (due 2032) 126,000.
Equipment 270,000.
Land 49,000.
Sales Salary Expense 33,900.
Delivery Expense 11,600.
Accounts Receivable 59,700.
Accumulated Depreciation, Equipment 43,000.
Sales 371,900.
Sales Commissions Expenses 11,000.
Accumulated Depreciation, Buildings 65,800.
Sales Returns and Allowances 12,400.
Common Stock 250,000.
Office Rent Expense 28,900.
Advertising Expense 17,200.
Office expenses 32,900.
Accounting Expenses 5,000.
Building 145,300.
Notes Payable (due 2022) 15,000.
Notes Payable (due 2025) 10,000.
Cost of Goods Sold 110,000.
Sales Discounts 3,200.
Investment Revenue 7,500.$
Salaries Payable 12,300.
Dividends 8,000.
Long Term Investments 54,000.
Totals 1,000,000 1,000,000
Write up a Multiple Step Income Statement for Turn Into Earth Inc., in good form for 2021.
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