3. Prepare a) multi-step income statement, (b) a statement of owner's equity, and (c) a classified balance sheet in report form from the following data for Kooper Co., taken from the ledger after adjustment on December 31, 2021. the end of the fiscal year. Accounts Payable $ 97,200 Accounts Receivable 64,300 Accumulated Depreciation - Office Equipment 72,750 Accumulated Depreciation - Store Equipment 162,100 Advertising Expense 7,000 Maeve Kooper, Capital 81,750 Cash 53,000 Cost of Merchandise Sold 121,700 Depreciation Expense - Office Equipment 8,300 Depreciation Expense - Store Equipment 4,100 Maeve Kooper, Withdrawal 52,000 Interest Expense 12,000 Merchandise Inventory 93,250 Miscellaneous Administrative Expense 18,900 Note Payable, Due 2040 *current portion $14,000 154,000 Office Equipment 149,750 Office Salaries Expense 22,500 Office Supplies Expense 6,800 Prepaid Insurance 6,500 Rent Revenue 17,500 Salaries Payable 28,700 Sales (net) 365,500 Sales Salaries Expense 30,400 Store Equipment 325,000 Supplies 4,000

3. Prepare a) multi-step income statement, (b) a statement of owner's equity, and (c) a classified balance sheet in report form from the following data for Kooper Co., taken from the ledger after adjustment on December 31, 2021. the end of the fiscal year. Accounts Payable $ 97,200 Accounts Receivable 64,300 Accumulated Depreciation - Office Equipment 72,750 Accumulated Depreciation - Store Equipment 162,100 Advertising Expense 7,000 Maeve Kooper, Capital 81,750 Cash 53,000 Cost of Merchandise Sold 121,700 Depreciation Expense - Office Equipment 8,300 Depreciation Expense - Store Equipment 4,100 Maeve Kooper, Withdrawal 52,000 Interest Expense 12,000 Merchandise Inventory 93,250 Miscellaneous Administrative Expense 18,900 Note Payable, Due 2040 *current portion $14,000 154,000 Office Equipment 149,750 Office Salaries Expense 22,500 Office Supplies Expense 6,800 Prepaid Insurance 6,500 Rent Revenue 17,500 Salaries Payable 28,700 Sales (net) 365,500 Sales Salaries Expense 30,400 Store Equipment 325,000 Supplies 4,000

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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