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Using the account list below, create the Multiple-Step Income Statement, Statement of Retained Earnings and Classified Balance Sheet for Tennis Manufacturing, Inc. for December 31,
Using the account list below, create the Multiple-Step Income Statement, Statement of Retained Earnings and Classified Balance Sheet for Tennis Manufacturing, Inc. for December 31, 2018. **Notethe only selling expense is salaries expense. Total Assets = 417,400
Additional Paid In Capital-C/S | 10,400 |
Depreciation Expense | 4,000 |
Prepaid Rent | 7,000 |
Notes Payable-due in 5 years | 34,500 |
Utilities Expense | 5,100 |
Accumulated Depreciation-Machine | 15,000 |
Sales Revenue | 350,000 |
Retained Earnings | 40,000 |
Interest Payable | 2,300 |
Interest Expense | 1,200 |
Common Stock | 14,000 |
Cash | 207,000 |
Accounts Payable | 42,000 |
Cost of Goods Sold | 50,000 |
Unearned Revenue | 8,700 |
Supplies Expense | 5,600 |
Cash Dividends | 8,000 |
Supplies | 10,000 |
Salaries Expense | 7,500 |
Machine | 154,000 |
Salaries Payable | 3,500 |
Prepaid Insurance | 2,400 |
Rent Expense | 2,500 |
Accounts Receivable | 52,000 |
Income Tax Expense | 4,100 |
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