Question

create a trial balance in the proper order. Then prepare a multi-step income statement, statement of retained earnings, and a classified balance sheet.

Company
Account Data
Account Name	December 31, 2016
Accounts payable	25,309
Accounts receivable	8,576
Accumulated depreciation - PPE	13,327
Additional paid in capital	16,201
Allowance for uncollectable accounts	237
Bonds payable -long term	7,694
Cash	19,334
Common stock	5
Cost of goods sold	88,265
Depreciation expense	167
General and Administrative expense	2,432
Goodwill	3,784
Income tax expense	1,425
Interest expense	484
Interest income	100
Inventories	11,461
Long-term payables	12,607
Marketable securities	6,647
Marketing expense	7,233
Other assets (long term)	4,723
Other current liabilities (accrued expenses)	13,739
Other expense	96
Other income	90
Product Sales	94,665
Property Plant and Equipment	42,441
Retained earnings (1/1/2016)	2,545
Service Sales	41,322
Shipping expense (Fulfillment expense)	17,619
Technology expense	16,085
Treasury stock	1,837
Unearned Revenue	4,768

Check Figures:
Net Income	$         2,371
Ending Retained Earnings	$         4,916
Total Assets	$      83,402

Answer 1

Part 1 - Trial Balance

Particulars	Debit	Credit
Accounts Payable		25309
Accounts Receivable	8576
Accumulated Depreciation - PPE		13327
Additional paid in capital		16201
Allowance for uncollectible accounts		237
Bonds Payable - Long term		7694
Cash	19334
Common stock		5
Cost of goods sold	88265
Depreciation	167
General and admin expenses	2432
Goodwill	3784
Income tax expenses	1425
Interest expenses	484
Interest Income		100
Inventories	11461
Long term payable		12607
Marketable securities	6647
Marketing expenses	7233
Other Assets (long term)	4723
Other Current Liabilities		13739
Other expenses	96
Other Income		90
Product sales		94665
Plant property and equipment	42441
Retained Earnings		2545
Service sales		41322
Shipping expenses	17619
Technology expenses	16085
Treasury stock	1837
Unearned Revenue		4768
Totalc	$232609	$232609

Part 2 - Multi Step Income Statement

Particulars			Amount
Product sales		$94665
Service sales		$41322	$135987
Less : Cost of Goods Sold			($88265)
Less : General and administrative expenses			($2432)
Less : Selling Expenses
Depreciation		$167
Marketing Expenses		$7233
Shipping Expenses		$17619
Technology expenses		$16085	($41104)
Other Income			$90
Other Expenses			($96)
Interest Expenses			($484)
Interest Income			$100
Income Before Tax Less : Income Tax			$4186 $1425
Net Income			$2371

Part 3 - Statement of Retained Earnings

Particulars	Amount
Beginning Retained Earnings Balance	$2545
+ Net Income	$2371
Ending Retained Earning Balance	$4916

Part 4 - Classified Balance sheet

Assets		Amount	Liabilities & Equity		Amount
Current Assets			Current Liability
Cash	$19334		Accounts Payable	$25309
Accounts Receivable, Net of Allowance for uncollectible account ($8576 - $237)	$8339		Other Current Liabilities	$13739
Inventories	$11461	$39134	Unearned Revenue	$4768	$43816
Investments			Long Term Liabilities
Marketable Securities		$6647	Bond Payable	$7694
			Long Term Payable	$12607	$20301
Long Term Assets
Other assets		$4723	Equity
			Retained Earnings		$4916
Plant property and Equipment			Common Stock	$5
Plant Property and Equipment	$42441		+ Additional paid in capital	$16201
Less : Accumulated Depreciatiom	($13327)	$29114	- Treasury Stock	($1837)	$14369
Intangible Assets
Goodwill		$3784
Total Assets		$83402	Total Equity and Liabilities		$83402