Question

how do I prepare a classified balance sheet, multiple step income statement, and retained earnings please help

Accounts payable

Accounts receivable

Accumulated depreciation - building

Allowance for uncollectible accounts

Bonds payable, due in 2029

Building

Cash

Common Stock

Cost of goods sold

current marries of long-term debt

deferred revenue

depreciation expense

discount on bonds payable

dividends

gains on sale of equipment

income tax expense

inventory

interest expense

land

note payable due 10/20

preferred stock

prepaid insurance

rent expense

sales revenue

retained earnings

treasury stock

supplies expense

short-term investments

Answer 1

Multi Step income Statement: Multi step Income statement is one the Incoem statements used by the business organisations. It provides a detailes analysis of the Operating income asnd expenses and Non- operating incomes and expenses. Before preparing the rRetined earnings or Balance sheet , Income statement is to be prepared.

Income statement
Particular	Amount	Amount
Sales Revenue		XXXX
Cost Of Goods Sold		(XXXX)
Gross Profit		XXXX
Operating Expenses
Rent Expense	XXXX
Supplies Expense	XXXX
Depreciation Expense	XXXX
Total Operating Expenses		(XXXX)
Operating Income		XXXX
Non -Operating Activities
Discount On Bonds Payable	XXXX
Gain on sale of equipment	XXXX
Interest Expense	(XXXX)
Income Tax Expense	(XXXX)
Total Non Operating Activities		XXXX
Net Income		XXXX

Retained Earnings: Retained Earnings are the business profits which are not distributed as dividends to its shareholder's but ept aside for reinvestment purposes.

Statement of Retained Earnings
Particulars	Amount
Retained Earnings in the beginning of the year	XXXX
Add: Net Income/Loss	XXXX
Less: Dividends Paid	(XXXX)
Retained Earnings at the end of the year	XXXX

Balance Sheet: The Balnce Sheet Items such as Assets , Liabilities and Owner equity is classified into further categories for detailed analysis of the financial position of the business.

Balance Sheet
Particulars	Amount	Amount	Amount
Assets
Current Assets
Cash		XXXX
Accounts Receivable		XXXX
Notes Receivable		XXXX
Inventories		XXXX
Prepaid Insurance		XXXX
Short Term Investments		XXXX
Total Current Assets			XXXX
Non-Current Assets
Land		XXXX
Buildings	XXXX
Accumulated Depreciation	(XXXX)
		XXXX
Total Non-Current Assets			XXXX
Total assets			XXXX
Liabillities and Shareholder's Equity
Liabilities
Current Liabilities
Notes Payable		XXXX
Accounts Payable	XXXX
Allowance for Uncollectible Accounts	(XXXX)	XXXX
Deferred revenue		XXXX
Current Marries of long term debt
Total Current Liabililties			XXXX
Non-Current Liabilities
Bonds Payable		XXXX
Total Non-Current Liabilities			XXXX
Total Liabilities			XXXX
Shareholder's Equity
Common Stock	XXXX
Treasury Stock	(XXXX)
		XXXX
Preferred Stock		XXXX
Reatined Earnings ending balance		XXXX
Total Shareholder's Equity			XXXX
Total Liabilities and Shareholder's equity			XXXX