Question
The adjusted trial balance of Indigo Corporation for the year ended December 31, 2022, is as follows. Debit Credit Cash $ 5,600 Accounts Receivable 4,000
The adjusted trial balance of Indigo Corporation for the year ended December 31, 2022, is as follows.
Debit | Credit | ||
---|---|---|---|
Cash | $ 5,600 | ||
Accounts Receivable | 4,000 | ||
Note Receivable (due February 20, 2023) | 2,300 | ||
Inventory | 6,700 | ||
Timberland | 22,300 | ||
Land | 18,500 | ||
Equipment | 36,000 | ||
Patent | 11,500 | ||
Accumulated Depletion | $ 3,800 | ||
Allowance for Doubtful Accounts | 1,500 | ||
Accumulated DepreciationEquipment | 8,300 | ||
Notes Payable (due January 15, 2023) | 5,100 | ||
Accounts Payable | 2,800 | ||
Common Stock | 63,500 | ||
Retained Earnings | 11,600 | ||
Sales Revenue | 55,000 | ||
Interest Revenue | 600 | ||
Cost of Goods Sold | 23,600 | ||
Salaries and Wages Expense | 11,800 | ||
Depreciation Expense | 2,300 | ||
Amortization Expense | 1,600 | ||
Research and Development Expense | 2,000 | ||
Bad Debt Expense | 700 | ||
License Expense | 300 | ||
Interest Expense | 800 | ||
Loss on Disposal of Plant Assets | 2,200 | ||
Total | $ 152,200 | $ 152,200 |
Prepare a multiple-step income statement. INDIGO CORPORATION Income Statement > $ $ Prepare a classified balance sheet 2 of December 31, 2022. (List Current Assets in order of liquidity. List Property. Plant and Equipment in order of Timberland, Land and Equipment.) INDIGO CORPORATION Balance Sheet Assets > Liabilities and Stockholders' Equity $ >
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