Question

In: Accounting

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

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

Solutions

Expert Solution

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

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