Question
THE ACCOUNTS OF anny company are listed along with their balances for the month ended december 31 , 2020 Interest revenue 200 Accounts payable 16,700
THE ACCOUNTS OF anny company are listed along with their balances for the month ended december 31 , 2020 Interest revenue 200 Accounts payable 16,700 Inventory 45,100 Accounts receivable 33,600 Note payable, longterm 46,000 Accumulated depreciation 37,700 Salary payable 2,700 Retained earnings, February 29 38,600 Sales discounts 2,900 Dividends 20,000 Sales returns and allowances 7,500 Cash 8,000 Sales revenue 2,97,000 Cost of goods sold 1,62,300 Selling expense 38,200 Equipment 1,29,100 Supplies 6,000 General expenses 16,700 Unearned sales revenue 13,800 Common stock 15,500 Interest payable 1,200 1. Prepare multi-step income statement. 2. Prepare statement of retained earnings. 3. Prepare classified balance sheet in report form. 4. Prepare statement of cash flows. 5. Compute working capital, current ratio. 6. Comment on the working capital and current ratio.
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