In: Accounting
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
Multiple Income statement | ||
For the year ended 31 Decemeber | in $ | |
sales revenue S | XXXX | |
Less: cost of good sold C | XXXX | |
Gross profit S-C | XXXX | |
Less: Operating expenses | ||
depreciation expense | XXXX | |
rent expense | XXXX | |
supplies expense | XXXX | |
Total operating expenses | XXXX | |
Income from operations | XXXX | |
Other Revenue/(expenses) | ||
gains on sale of equipment | XXXX | |
Interest expenses | -XXXX | XXXX |
Income before taxes | XXXX | |
income tax expense | XXXX | |
Net Income | XXXX | |
Statement of Retained Eranings | ||
For the year ended 31 Decemeber | ||
Beginning Balance of Retained Earnings | XXXX | |
Net Income | XXXX | |
dividends | -XXXX | |
Ending Balance of Retained Earnings | XXXX | |
Balance Sheet | ||
For the year ended 31 Decemeber | ||
Assets | ||
Current assets | ||
Cash | XXXX | |
Short-term investment | XXXX | |
Accounts Receivable | XXXX | |
Less: Allowance for uncollectible accounts | XXXX | XXXX |
Inventory | XXXX | |
prepaid insurance | XXXX | |
Total Current Assets A | XXXX | |
Property Plant & Equipment | ||
Land | XXXX | |
Building | XXXX | |
Less: Accumulated depreciation - building | XXXX | XXXX |
Net Property, Plant & equipment B | XXXX | |
Total Assets A+B | XXXX | |
Liabilities & Stockholder equity | ||
Current Liabilities | ||
Accounst payable | XXXX | |
current marries of long-term debt | XXXX | |
deferred revenue | XXXX | |
Total Current Liabilities C | XXXX | |
Long term Liabilities | ||
Bonds payable | XXXX | |
Less: Discount on bonds payable | XXXX | XXXX |
note payable | XXXX | |
Total Long term Liabilities L | XXXX | |
Total Liabilities T= C+L | XXXX | |
Stockholder equity | ||
Preferred stock | XXXX | |
Common stock | XXXX | |
Retained Eranings | XXXX | |
Less: Treasury stock | -XXXX | |
Total Stockholder equity S | XXXX | |
Total Liabilities & Stockholder equity T+S | XXXX | |
Dear student as the figures were not mentioned I think you want the format. | ||
So prepared the format of all three in the required sequesnce | ||
If any doubt please comment |