Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

rearrange the accounts to produce a Balance Sheet and an Income statement in good form JJJ, LLC 31 Apr 13 Account List Member Contributions 10000

rearrange the accounts to produce a Balance Sheet and an Income statement in "good form"

JJJ, LLC

31 Apr 13
Account List
Member Contributions 10000
Accounts Payable 8000
Accounts Receivable 20000
Accumulated Depreciation 8000
Bad Debts Expense 2000
Bank Loan Payable 45000
Buildings 50000
Utilities Expense 18000
Cash 5000
Cost of Goods Sold 150000
Furniture and Fixtures 10000
Inventory 50000
Salaries and Wages 100000
Sales 300000
Additional Paid in Capital 5000
Beginning Retained Earnings 29000

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

Essentials Of Corporate Fraud

Authors: Tracy L. Coenen

1st Edition

047019412X, 978-0470194126

More Books

Students also viewed these Accounting questions