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The trial balance of the John Doe Company as of December 31, 2021 is presented below. Prepare a multiple-step income statement for the year ended
The trial balance of the John Doe Company as of December 31, 2021 is presented below. Prepare a multiple-step income statement for the year ended (date of), December 31, 2021. Every yellow cell requires either an account title or a dollar amount. Use the dropdown list to select the proper account titles. Enter a formula for all dollar amounts. Credit $19,000 18,000 7,000 75,800 John Doe Company Trial Balance December 31, 2021 Debit Cash $11,500 Accounts receivable 22,000 Merchandise inventory 64,500 Store supplies 2,400 Store Equipment 64,000 Accumulated depreciation Accounts payable Salaries payable Common Stock Dividends 28,000 Sales Sales discounts 6,000 Sales returns and allowances 18,900 Cost of goods sold 132,000 Depreciation expense - Store equip. 9,500 Sales salaries expense 26,400 Office salaries expense 34,900 Insurance expense 11,900 Rent expense - Store 17,900 Rent expense office 7,900 Store supplies expense 6,700 Advertising expense 32,300 Totals $496,800 377,000 $496,800 Prepare a multiple-step income statement for John Doe Company for the year ended December 31, 2021. Remember that selling expenses target the customer, and are expected to generate additional sales. Administrative expenses are not expected to generate additional sales. Prepare a multiple-step income statement for John Doe Company for the year ended December 31, 2021. Remember that selling expenses target the customer, and are expected to generate additional sales. Administrative expenses are not expected to generate additional sales. John Doe Company Income Statement For Year Ended December 31, 2021 Operating expenses Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses
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