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Star Inc. began operations several years ago. Its post-closing trial balance at April 30, 2014 is shown below. Star Inc.'s closing entries are also shown
Star Inc. began operations several years ago. Its post-closing trial balance at April 30, 2014 is shown below. Star Inc.'s closing entries are also shown below. Shares worth $4,500 were sold during April 2014. Use this information to prepare the following: a. Classified, Multiple-Step income statement for the year ended April 30. b. Statement of changes in equity for the year ended April 30. c. Classified balance sheet at April 30. (select one) Income Statement (select one) General Journal Date Account/Explanation 30/Apr Sales Rent Earned Interest Earned Income Summary Close temporary credit balance accounts Page Gj1 F Debit Credit 19,320 29,970 10.090 59,380 58,644 30/Apr Income Summary Depreciation Expense, Office Equipment Depreciation Expense, Store Equipment Cost Of Goods Sold Interest Expense Office Salaries Expense Sales Salaries Expense Office Supplies Expense. Store Supplies Expense. Income Taxes Expense Sales Discounts Sales Returns and Allowances Close temporary debit balance accounts 1,420 760 13,430 2,190 12,690 13.890 7,370 5,880 184 510 320 (select one) Statement of Changes in Equity (select one) Share Retained Total Capital Earnings Equity ++ 1 1 736 736 301 Apr Income Summary Retained Earnings Close income summary 30/Apr Retained Earnings. Dividends Close dividends 2,270 2.270 (select one) Balance Sheet (select one) +++ Star Inc. Post-Closing Trial Balance April 30, 2014 Debit Credit Accounts payable 6.730 Accumulated depreciation, office equipment. 6,820 Accumulated depreciation, store equipment... 3,500 Bonds Payable (due March, 2020). 7,940 Cash 5,240 Copyright 2.220 Income taxes payable 184 Merchandise inventory. 16,210 Mortgage Payable (due March, 2020). 15,360 Office equipment 38,090 Retained earnings 6.996 Salaries payable 11,280 Share capital 16,000 Store equipment 7.280 Trademark 7,690 Unearned revenue, 1.920 Totals 76,730 76,730
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