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Using the prompt shown, make a income statement, statement of stockholders equity, and a balance sheet Financial Statement Practice Problem This will be your personal
Using the prompt shown, make a income statement, statement of stockholders equity, and a balance sheet
Financial Statement Practice Problem This will be your personal study-aide for the Final Exam written problem which is creating the 3 Financial Statements. Assignment: This is a Graded Assignment worth 40 Points Prepare the 3 Financial Statements: using the blank formats provided. The period is the month of December. The Adjusted Trial Balance for December 31, 2021 is attached. The Income Statement should be a Multi-step Income Statement (2 columns) The Balance Sheet should be a Classified Balance Sheet in the Vertical format. ( 3 columns) All Financial Statements should have the correct header correct columns with amounts in the correct column correctly named sub-totals Joe's Surf Shop Adjusted Trial Balance As of December 31, 2021 (In aphabetical order) Account Accounting Office Salary Expense Accounts Payable Accounts Receivable Accumulated Depreciation - Building Accumulated Depreciation - Equipment Additional Paid In Capital - Common Stock Advertising Expense Allowance for Doubtful Accounts Bond Payable Building Cash Common Stock Cost of Goods Sold: Surf Boards Dividends Equipment Federal Withholding Tax Payable Goodwill Headquarter Office Rent Expense Inventory Land Note Payable Patent: Surf Board Float System Prepaid Insurance Retained Earnings Salaries Payable Surf Shop Salary Expense Surf Board Sales Supplies Travel Expense to Promote Surf Boards Unearned Revenue Totals \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Statement of StockHolder's Equity Balances December 1, 2022 Balances December 31,2022 \begin{tabular}{|l|l|l|} \hline CommonStock & RetainedEamings & Total \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Financial Statement Practice Problem This will be your personal study-aide for the Final Exam written problem which is creating the 3 Financial Statements. Assignment: This is a Graded Assignment worth 40 Points Prepare the 3 Financial Statements: using the blank formats provided. The period is the month of December. The Adjusted Trial Balance for December 31, 2021 is attached. The Income Statement should be a Multi-step Income Statement (2 columns) The Balance Sheet should be a Classified Balance Sheet in the Vertical format. ( 3 columns) All Financial Statements should have the correct header correct columns with amounts in the correct column correctly named sub-totals Joe's Surf Shop Adjusted Trial Balance As of December 31, 2021 (In aphabetical order) Account Accounting Office Salary Expense Accounts Payable Accounts Receivable Accumulated Depreciation - Building Accumulated Depreciation - Equipment Additional Paid In Capital - Common Stock Advertising Expense Allowance for Doubtful Accounts Bond Payable Building Cash Common Stock Cost of Goods Sold: Surf Boards Dividends Equipment Federal Withholding Tax Payable Goodwill Headquarter Office Rent Expense Inventory Land Note Payable Patent: Surf Board Float System Prepaid Insurance Retained Earnings Salaries Payable Surf Shop Salary Expense Surf Board Sales Supplies Travel Expense to Promote Surf Boards Unearned Revenue Totals \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Statement of StockHolder's Equity Balances December 1, 2022 Balances December 31,2022 \begin{tabular}{|l|l|l|} \hline CommonStock & RetainedEamings & Total \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Step by Step Solution
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