Question
The following items are taken from the financial statements of Super Company for 2019: Cash 26,000 Common Stock 25,000 Cost of Goods Sold 17,000 Depreciation
The following items are taken from the financial statements of Super Company for 2019:
Cash 26,000
Common Stock 25,000
Cost of Goods Sold 17,000
Depreciation Expense 4,800
Dividends 5,300
Equipment 44,000
Interest Expense 2,500
Rent Expense 2,000
Patents 7,500
Note Payable (Due 2020) 3,000
Retained Earnings, January 1 16,000
Salaries Expense 5,200
Sales Revenue 35,500
Accounts Payable 18,500
Rent Payable 2,000
Accounts Receivable 4,000
Accumulated Depreciation 4,800
Bonds Payable 18,000
Supplies 4,500
Instructions: Prepare the following statements
a) Multistep income statement
b) Retained earnings
c) Classified Balance Sheet
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