Question
The following selected accounts from the Sheridan Companys general ledger are presented below for the year ended December 31, 2022: Advertising expense $ 47,000 Interest
The following selected accounts from the Sheridan Companys general ledger are presented below for the year ended December 31, 2022: Advertising expense $ 47,000 Interest revenue $ 25,000 Common stock 242,000 Inventory 59,000 Cost of goods sold 1,077,000 Rent revenue 24,000 Depreciation expense 117,000 Retained earnings 527,000 Dividends 142,000 Salaries and wages expense 667,000 Freight-out 17,000 Sales discounts 8,100 Income tax expense 62,000 Sales returns and allowances 36,000 Insurance expense 15,000 Sales revenue 2,392,000 Interest expense 62,000 Prepare a multiple-step income statement.
Please make a table for it and use the list of accounts from this list:
- Accounts Payable
- Accounts Receivable
- Accumulated Depreciation-Buildings
- Accumulated Depreciation-Equipment
- Administrative Expenses
- Advertising Expense
- Amortization Expense
- Buildings
- Cash
- Common Stock
- Cost of Goods Sold
- Depreciation Expense
- Dividends
- Equipment
- Freight-In
- Freight-Out
- Gain on Disposal of Plant Assets
- Income Tax Expense
- Income Taxes Payable
- Insurance Expense
- Interest Expense
- Interest Payable
- Interest Revenue
- Inventory
- Land
- Loss on Disposal of Plant Assets
- Maintenance and Repairs Expense
- Mortgage Payable
- No Entry
- Notes Payable
- Prepaid Insurance
- Purchase Discounts
- Purchase Returns and Allowances
- Purchases
- Rent Expense
- Rent Revenue
- Research and Development Expense
- Retained Earnings
- Salaries and Wages Expense
- Salaries and Wages Payable
- Sales Discounts
- Sales Returns and Allowances
- Sales Revenue
- Supplies
- Supplies Expense
- Unearned Service Revenue
- Utilities Expense
- Website
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