Selected accounts and related amounts for Kanpur Co. for the fiscal year ended June 30, 2017, PR 5-6B Single-step income statement and balang are presented in Problem 5-5B. Instructions 1. Prepare a single-step income statement in the format shown in Exhibit 13. 2. Prepare a statement of stockholders' equity. Additional common stock of $7,500 was issued dur. ing the year ended June 30, 20Y7. 3. Prepare a balance sheet, assuming that the current portion of the note payable is $7,000. 4. Prepare closing entries as of June 30, 20Y7. PR 5-6B Single-step income statement and balance sheet Obj. 4 Selected accounts and related amounts for Kanpur Co. for the fiscal year ended June 30, 2087, are presented in Problem 5-5B. Instructions 1. Prepare a single-step income statement in the format shown in Exhibit 13. 2. Prepare a statement of stockholders' equity. Additional common stock of $7,500 was issued dur- ing the year ended June 30, 2017. 3. Prepare a balance sheet, assuming that the current portion of the note payable is $7,000. 4. Prepare closing entries as of June 30, 2017. PR 5-5B Multiple-step income statement and balance sheet Obj. 4 The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 20Y7: $ 92,000 450,000 370,000 5,000 10,000 12,000 220,000 Cash Accounts Receivable Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation- Office Equipment Retained Earnings Dividends Sales Cost of Goods Sold Sales Salaries Expense Advertising Expense Depreciation Expense- Store Equipment Miscellaneous Selling Expense $ 381,000 300,000 8.925,000 5,620,000 850,000 420,000 33,000 18,000 58,000 (Continued) Selected accounts and related amounts for Kanpur Co. for the fiscal year ended June 30, 2017, PR 5-6B Single-step income statement and balang are presented in Problem 5-5B. Instructions 1. Prepare a single-step income statement in the format shown in Exhibit 13. 2. Prepare a statement of stockholders' equity. Additional common stock of $7,500 was issued dur. ing the year ended June 30, 20Y7. 3. Prepare a balance sheet, assuming that the current portion of the note payable is $7,000. 4. Prepare closing entries as of June 30, 20Y7. PR 5-6B Single-step income statement and balance sheet Obj. 4 Selected accounts and related amounts for Kanpur Co. for the fiscal year ended June 30, 2087, are presented in Problem 5-5B. Instructions 1. Prepare a single-step income statement in the format shown in Exhibit 13. 2. Prepare a statement of stockholders' equity. Additional common stock of $7,500 was issued dur- ing the year ended June 30, 2017. 3. Prepare a balance sheet, assuming that the current portion of the note payable is $7,000. 4. Prepare closing entries as of June 30, 2017. PR 5-5B Multiple-step income statement and balance sheet Obj. 4 The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 20Y7: $ 92,000 450,000 370,000 5,000 10,000 12,000 220,000 Cash Accounts Receivable Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation- Office Equipment Retained Earnings Dividends Sales Cost of Goods Sold Sales Salaries Expense Advertising Expense Depreciation Expense- Store Equipment Miscellaneous Selling Expense $ 381,000 300,000 8.925,000 5,620,000 850,000 420,000 33,000 18,000 58,000 (Continued)
