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Problem 3B (10 marks; 25 minutes) - Information from the December 31, 2020, year-end, adjusted trial balance of Targaryen House is as follows: Credit Debit
Problem 3B (10 marks; 25 minutes) - Information from the December 31, 2020, year-end, adjusted trial balance of Targaryen House is as follows: Credit Debit 79,410 $ $ 9,120 32,300 1,100 120,000 Account Other assets Liabilities Daenerys, capital Daenerys, withdrawals Sales Sales returns and allowances Sales discounts Cost of goods sold Advertising expense Depreciation expense, store Insurance expense, office Interest expense Rent expense, store Salaries expense, office Supplies expense, office TOTALS 1,500 300 75,000 250 3,250 250 60 160 120 20 $161,420 $161,420 Required: Prepare a classified multiple-step income statement (perpetual method) using the working paper provided
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