Question
The ledger of AISExperts Inc. showed the following balances after adjustment, but before closing, on December 31, 2020, the end of the current year: Accounts
The ledger of AISExperts Inc. showed the following balances after adjustment, but before closing, on December 31, 2020, the end of the current year:
Accounts payable | 82000 |
Accounts receivable | 100580 |
Accumulated depreciation equipment | 36540 |
Depreciation expense | 10000 |
Marketable securities | 11250 |
Interest revenue | 1100 |
Cash | 78470 |
Finished goods inventory | 73500 |
Available-for-sale securities | 6000 |
Common stock (10,000 shares outstanding) | 100000 |
Prepaid rent | 14500 |
Cost of goods sold | 625650 |
Dividends declared | 32000 |
Insurance expense | 2200 |
Lease obligation | 5200 |
Equipment | 114450 |
General expenses | 110250 |
Interest expense | 5800 |
Raw materials inventory | 51000 |
Rent expense | 2000 |
Prepaid insurance | 11325 |
Retained earnings | ? |
Dividend revenue | 10250 |
Work-in-process inventory | 52200 |
Leased equipment | 6000 |
Salaries payable | 26700 |
Sales | 987500 |
Selling expenses | 136210 |
The president of AISExperts Inc., has asked you to develop a flexible financial statement package (call the file yournameFinState20), using Excel that includes:
- a data entry sheet
- an adjusted trial balance,
- a single-step income statement,
- a multi-step income statement,
- a statement of retained earnings,
- a classified balance sheet, and
- a post-close trial balance
You can ignore taxes in this project.
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