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The following adjusted trial balance for Bell Servicing was prepared at the end of the fiscal year, December 31, 2023: Debit $ 7,400 15,600 9,400
The following adjusted trial balance for Bell Servicing was prepared at the end of the fiscal year, December 31, 2023: Debit $ 7,400 15,600 9,400 3,400 50,400 Account 101 Cash 119 Merchandise inventory 125 Supplies 128 Prepaid insurance 165 Store equipment 166 Accumulated depreciation, store equipment 167 Office equipment 168 Accumulated depreciation, office equipment 201 301 302 413 Sales 415 Sales discounts 505 Cost of goods sold 612 Depreciation expense, store equipment Depreciation expense, office equipment Sales salaries expense 613 622 623 Office salaries expense 637 638 640 641 651 652 655 Accounts payable Jonah Bell, capital Jonah Bell, withdrawals Insurance expense, store Insurance expense, office Rent expense, office space Rent expense, selling space office supplies expense Store supplies expense Advertising expense Totals 68,400 40,400 1,400 74,200 4,600 3,200 45,400 31,400 1,400 1,300 12,400 16,400 Credit $ 46,200 33,600 15,400 25,640 285,800 1,140 1,800 17,000 $406,640 $406,640 Required: 1. Prepare a classified multiple-step income statement that would be used by the business's owner.
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