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12 2 3 A BUS 500 Module 2: Accounting Multiple Step Income Statement Problem B The following selected accounts and their current balances appear in the ledger of Trojan Inc. for the fiscal year ended September 30, 2018: 4 Line Item Description 5 Cash 6 Accounts Receivable 7 Inventory 8 Short-Term Investments 9 Office Supplies 10 Prepaid Insurance Amount $202,000 287,000 748,000 37,000 22,000 16,500 252,400 121,000 11 Office Equipment 13 Store Equipment 12 Accumulated Depreciation- Office Equipment 1,069,000 14 Accumulated Depreciation- Store Equipment 15 Accounts Payable 419,400 42,500 16 Customer Refunds Payable 34,700 17 Estimated Coupons Payable 16,500 18 Salaries Payable 22,700 19 Note Payable (final payment due in five years) 120,000 20 Common Stock 30,000 21 Retained Earnings (as of Sept. 30, 2017) 598,600 22 Dividends 306,000 7,121,000 23 Sales 24 Cost of Goods Sold 25 Sales Salaries Expense 26 Advertising Fynense 4,337,000 790,600 78 800 D

12 2 3 A BUS 500 Module 2: Accounting Multiple Step Income Statement Problem B The following selected accounts and their current balances appear in the ledger of Trojan Inc. for the fiscal year ended September 30, 2018: 4 Line Item Description 5 Cash 6 Accounts Receivable 7 Inventory 8 Short-Term Investments 9 Office Supplies 10 Prepaid Insurance Amount $202,000 287,000 748,000 37,000 22,000 16,500 252,400 121,000 11 Office Equipment 13 Store Equipment 12 Accumulated Depreciation- Office Equipment 1,069,000 14 Accumulated Depreciation- Store Equipment 15 Accounts Payable 419,400 42,500 16 Customer Refunds Payable 34,700 17 Estimated Coupons Payable 16,500 18 Salaries Payable 22,700 19 Note Payable (final payment due in five years) 120,000 20 Common Stock 30,000 21 Retained Earnings (as of Sept. 30, 2017) 598,600 22 Dividends 306,000 7,121,000 23 Sales 24 Cost of Goods Sold 25 Sales Salaries Expense 26 Advertising Fynense 4,337,000 790,600 78 800 D

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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12 2 3 A BUS 500 Module 2: Accounting Multiple Step Income Statement Problem B The following selected accounts and their current balances appear in the ledger of Trojan Inc. for the fiscal year ended September 30, 2018: 4 Line Item Description 5 Cash 6 Accounts Receivable 7 Inventory 8 Short-Term Investments 9 Office Supplies 10 Prepaid Insurance Amount $202,000 287,000 748,000 37,000 22,000 16,500 252,400 121,000 11 Office Equipment 13 Store Equipment 12 Accumulated Depreciation- Office Equipment 1,069,000 14 Accumulated Depreciation- Store Equipment 15 Accounts Payable 419,400 42,500 16 Customer Refunds Payable 34,700 17 Estimated Coupons Payable 16,500 18 Salaries Payable 22,700 19 Note Payable (final payment due in five years) 120,000 20 Common Stock 30,000 21 Retained Earnings (as of Sept. 30, 2017) 598,600 22 Dividends 306,000 7,121,000 23 Sales 24 Cost of Goods Sold 25 Sales Salaries Expense 26 Advertising Fynense 4,337,000 790,600 78 800 D
Transcribed Image Text:12 2 3 A BUS 500 Module 2: Accounting Multiple Step Income Statement Problem B The following selected accounts and their current balances appear in the ledger of Trojan Inc. for the fiscal year ended September 30, 2018: 4 Line Item Description 5 Cash 6 Accounts Receivable 7 Inventory 8 Short-Term Investments 9 Office Supplies 10 Prepaid Insurance Amount $202,000 287,000 748,000 37,000 22,000 16,500 252,400 121,000 11 Office Equipment 13 Store Equipment 12 Accumulated Depreciation- Office Equipment 1,069,000 14 Accumulated Depreciation- Store Equipment 15 Accounts Payable 419,400 42,500 16 Customer Refunds Payable 34,700 17 Estimated Coupons Payable 16,500 18 Salaries Payable 22,700 19 Note Payable (final payment due in five years) 120,000 20 Common Stock 30,000 21 Retained Earnings (as of Sept. 30, 2017) 598,600 22 Dividends 306,000 7,121,000 23 Sales 24 Cost of Goods Sold 25 Sales Salaries Expense 26 Advertising Fynense 4,337,000 790,600 78 800 D
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