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pter 6- Ex & Prob. Assignment Multiple-Step Income Statement and Balance Sheet Instructions Labels and Amount Descriptions Income Statement Instructions Cash Accounts Receivable Merchandise Inventory eBook The following selected accounts and their current balances appear in the ledger of Druid Hills Co. for the fiscal year ended May 31, 2018 Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation Office Equipment Store Equipment Accumulated Depreciation Store Equipment Accounts Payable Customer Refunds Payable Salaries Payable Note Payable" Kristina Marble, Capital Kristina Marble, Drawing Sales Check My Work 3 more Check My Work uses remaining. enment Score: 60.89% Statement of Owner's Equity $238,400 965,200 1,771,300 21,700 6,900 839,300 541,200 3,594,100 1,821,000 362,900 48,500 40,700 318.000 3,393,100 100,000 11,417,000 MacBook Air reek Caree Save and Ext Subr Chapter 6 - Ex & Prob. Assignment Multiple-Step Income Statement and Balance Sheet Instructions Labels and Amount Descriptions Income Statement Statement of Owner's Equity Instructions Hayam Kristina Marble, Capital Kristina Marble, Drawing Sales Cost of Merchandise Sold Sales Salaries Expense Advertising Expense Depreciation Expense-Store Equipment Miscellaneous Selling Expense Office Salaries Expense Rent Expense eBook Depreciation Expense-Office Equipment Insurance Expense Office Supplies Expense Miscellaneous Administrative Expense Interest Expense "final payment due in 10 years Required: Check My Work 3 more Check My Work uses remaining. Assignment Score: 60,89% Jiw,www 3,393,100 100,000 11,417,000 7,843,800 921,600 557,600 900 46,400 643,900 99,000 49,000 46,900 24,900 11,600 18,900 III Instructions Depreciation Expense-Store Equipment Miscellaneous Selling Expense Office Salaries Expense Rent Expense Depreciation Expense-Office Equipment Insurance Expense Office Supplies Expense Miscellaneous Administrative Expense Interest Expense "final payment due in 10 years Required: 1. Prepare a multiple-step income statement." 141,900 46,400 643,900 99,000 49,000 46,900 24,900 11,600 18,900 "Be sure to read the instructions for each financial statement carefully Check My Work 3 more Check My Work uses remaining. 2. Prepare a statement of owner's equity." 3. Prepare a balance sheet, assuming that the current portion of the note payable is $49,900. 4. How multiple-step and single-step income statements differ Assignment Score: 60.89% STA nuomono Gay Multiple-Step Income Statement and Balance Sheet Instructions Labels and Amount Descriptions Income Statement Labels and Amount Descriptions Labels Current assets Current liabilities For the Year Ended May 31, 2018 Long-term liabilities May 31, 20Y8 Expenses Other revenue and expense Property, plant, and equipment Amount Descriptions Gross profit Income from operations Increase in owner's equity Kristina Marble, capital, June 1, 20Y7 Kristina Marble, capital, May 31, 2018 Withdrawals Check My Work 3 more Check My Work uses remaining. Assignment Score: 60.89% > atement and Balance Sheet Instructions Labels and Amount Descriptions Labels and Amount Descriptions Income from operations Increase in owner's equity Kristina Marble, capital, June 1, 20Y7 Kristina Marble, capital, May 31, 2018 Withdrawals Net income Net loss Total administrative expenses Total assets Total current assets Total current liabilities Total liabilities Total liabilities and owner's equity Total operating expenses Total property, plant, and equipment Total selling expenses Check My Work 3 more Check My Work uses remaining. ssignment Score: 60.89% Income Statement X apter 6- Ex & Prob. Assignment Multiple-Step Income Statement and Balance Sheet Instructions Labels and Amount Descriptions Income Statement Income Statement 1 1. Prepare a multiple-step income statement. Be sure to complete the statement heading, Refer to the account names in the instructions and the lists of Labels and Amount Descriptions for the exact wording of text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. A colon () will automatically appear if it is required. 2 3 $ 6 7 1 (Label) Selling expenses: eBook 60 89% Druid Hills Co. Income Statement (Label) Check My Work 3 more Check My Work uses remaining. Statement of Owner's Equity Chapter 6 - Ex & Prob. Assignment Multiple-Step Income Statement and Balance Sheet Instructions Labels and Amount Descriptions Income Statement Statement of Owner's Equity Income Statement 7 8 9 10 11 Administrative expenses: 12 13 14 15 16 17 18 19 20 21 (Label) 22 eBook 25 Check My Work 3 more Check My Work uses remaining. Assignment Score: 60.89% I Wat... Multiple-Step Income Statement and Balance Sheet Instructions Labels and Amount Descriptions Income Statement Statement of Owner's Equity Statement of Owner's Equity 2. Prepare a statement of owner's equity. Be sure to complete the statement heading. Refer to the lists of Labels and Amount Descriptions for the exact wording of text entries. Enter amounts that represent reduction as negative numbers using a minus sign. Druid Hills Co. ssignment Score: 60.89% Statement of Owner's Equity (Label) Check My Work 3 more Check My Work uses remaining. Multiple-Step Income Statement and Balance Sheet Instructions Labels and Amount Descriptions Balance Sheet 1 3. Prepare a balance sheet, assuming that the current portion of the note payable is $49,900. Be sure to complete the statement heading. Refer to the account names in the instructions and the lists of Labels and Amount Descriptions for the exact wording of text entries. Order the Property, Plant & Equipment accounts in the order shown on the Instructions page. You will not need to enter colons (:) or the word "Less" on the balance sheet; they will automatically insert where necessary. Enter all amounts as positive numbers. 2 (Label) 3 4 6 Assets Check My Work 3 more Check My Work uses remaining. ignment Score: 60,89% Income Statement Statement of Owner's Equity Druid Hills Co. Balance Sheet (Label) ouTube Chapter 6-Ex & Prob. Assignment eBook Balance Sheet 1 Multiple-Step Income Statement and Balance Sheet Instructions Labels and Amount Descriptions Income Statement Statement of Owner's Equity 10 11 21 24 25 14 28 Google https://eservices Blackboard Learn 17(Label) 29 20 23 12 (Label) 25 (Label) Liabilities 0450-T478-2021/... Check My Work 3 more Check My Work uses remaining Free Online Plagia... Wordtune Editor UWatchFree | Wat.... Multiple-Step Income Statement and Balance Sheet Instructions Labels and Amount Descriptions Income Statement Statement of Owner's Equity Balance Sheet 14 15 2 16 17 (Label) 18 19 20 21 22 23 (Label) 24 25 26 27 28 Liabilities Owner's Equity Check My Work 3 more Check My Work uses remaining. Assignment Multiple-Step Income Statement and Balance Sheet Instructions Labels and Amount Descriptions Income Statement Statement of Owner's Equity Balance Sheet Final Questions Final Questions eBook 4. How multiple-step and single-step income statements differ. Which type of income statement shows intermediate balances? Single-step Multiple-step Check My Work 3 more Check My Work uses remaining. ^
