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Problem 5-13A $33,010 13,070 61,200 Prepaid insurance 19,880 Property tax expense The following is an alphabetical list of Sheffield's Bakery's adjusted account balances at
Problem 5-13A $33,010 13,070 61,200 Prepaid insurance 19,880 Property tax expense The following is an alphabetical list of Sheffield's Bakery's adjusted account balances at the end of the company's fiscal year on November Accounts payable Accounts receivable Accumulated depreciation-building Accumulated depreciation-equipment Merchandise inventory Mortgage payable $34,360 106,000 4,500 3,500 Building 175,000 Purchases 632,700 B. Hachey, capital 104,480 Purchase discounts 6,800 B. Hachey, drawings 12,800 Purchase returns and allowances 13,315 Cash 20,800 Rent revenue 3,500 Depreciation expense 14,500 Salaries expense 122,000 Equipment 57,000 Salaries payable 8,500 Freight in 5,060 Sales 876,000 Freight out 8,200 Sales discounts 8,250 Insurance expense Interest expense 9,000 5,700 Sales returns and allowances 9,845 Unearned revenue 3,000 Land 79,000 Utilities expense 20,400 Additional information: 1. Sheffield's Bakery uses a periodic inventory system. 2. Of the mortgage payable, $9,200 is due on March 31, 2022. 3. A physical count determined that merchandise inventory on hand at November 30, 2021, was $37,410. 4. The owner made no capital contributions during the year. Prepare a multiple-step income statement for the November 30, 2021, year end. (Enter negative amounts using either a negative si number e.g. -45 or parentheses e.g. (45).) SHEFFIELD'S BAKERY Income Statement S
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