1. Under which section on the Multi-Step Income Statement do the following accounts fall under 

A. Net Sales 

B. Cost of Goods Sold 

C. Selling Expenses 

D. General & Administrative Expenses 

E. Other Revenue/(Expense) 

F. Not on Income Statement 

1. Freight Expense 

2. Office Salaries Expense 

3. Interest Income 

4. Sales Returns & Allowances 

5. Unearned Revenue

 6. Cost of Goods Sold 

7. Corporate Office Rent Expense 

8. Advertising Expense 

9. Interest Expense YES DO THIS ONE!!! 

10. Sales Discounts 

2. Below are selected accounts of Lots O’Stuff Corporation for the year ended December 31, 2013: Lots O'Stuff Corporation Selected Accounts December 31, 2013, 

Debit Credit 

Sales 23,920 

Cost of Goods Sold 8,400 

Selling Expenses 3,300 

General & Administrative Expenses 1,700 

Interest Expense 100 

Income Tax Expense 320 

Prepare a multi-step income statement for the year ended December 31, 2013. 

3. Below is the adjusted trial balance for Tillman Technology: Keep in mind I only want the Multi-step income statement. So some of the accounts on this trial balance trial don’t belong on the income statement. Part of this assignment is to see if you know what belongs where.!!!! Tillman Technology Adjusted Trial balance December 31, 2013 

Debit Credit 

Cash $ 10,000

 Accounts Receivable 5,000 

Prepaid Rent 3,000 

Supplies 1,100 

Land 25,350 

Building 50,000

Accumulated Depreciation-Building $ 5,000 

Trademark 2,500 

Accounts Payable 8,000 

Unearned Revenue 3,500 

Notes Payable(3 months) 5,000 

Common Stock 45,000 

Retained Earnings 20,970 

Sales 25,300 

Sales Returns & Allowance 1,600 

Sales Discounts 220 

Interest Income 150 

Cost of Goods Sold 10,100 

Selling Expenses 2,300 

General & Administrative Expenses 1,400 

Interest Expense 250 

Income Tax Expense 100 

Total $ 112,920 $ 112,920 

Prepare a multi-step income statement for the year ended December 31, 2013.