8. Prepare (a) a multi-step income statement, (b) a statement of owner's equity, and (c) a balance sheet in re- port form from the following data for Burt Co., taken from the ledger after adjustments on December 31, the end of the fiscal year. The accounts are not in trail balance order. Your job is to place the correct accounts in the financial statements in which they belong in the correct format! Accounts Payable Accounts Receivable Accumulated Depreciation–Office Equipment Accumulated Depreciation–Store Equipment Administrative Expenses Cash Cost of Merchandise Sold Interest Expense Maeve Burt, Capital Maeve Burt, Drawing Merchandise Inventory Note Payable (due in two years) Office Equipment Prepaid Insurance Rent Revenue Salaries Payable Sales Selling Expenses Store Equipment Supplies $97,200 64,300 72,750 162,100 56,500 53,000 121,700 12,000 81,750 52,000 93,250 154,000 149,750 6,500 17,500 28,700 365,500 41,500 325,000 4,000
8. Prepare (a) a multi-step income statement, (b) a statement of owner's equity, and (c) a balance sheet in re- port form from the following data for Burt Co., taken from the ledger after adjustments on December 31, the end of the fiscal year. The accounts are not in trail balance order. Your job is to place the correct accounts in the financial statements in which they belong in the correct format! Accounts Payable Accounts Receivable Accumulated Depreciation–Office Equipment Accumulated Depreciation–Store Equipment Administrative Expenses Cash Cost of Merchandise Sold Interest Expense Maeve Burt, Capital Maeve Burt, Drawing Merchandise Inventory Note Payable (due in two years) Office Equipment Prepaid Insurance Rent Revenue Salaries Payable Sales Selling Expenses Store Equipment Supplies $97,200 64,300 72,750 162,100 56,500 53,000 121,700 12,000 81,750 52,000 93,250 154,000 149,750 6,500 17,500 28,700 365,500 41,500 325,000 4,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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please help me finihs all of 8
thank you!
Transcribed Image Text:8. Prepare (a) a multi-step income statement, (b) a statement of owner's equity, and (c) a balance sheet in re-
port form from the following data for Burt Co., taken from the ledger after adjustments on December 31, the
end of the fiscal year. The accounts are not in trail balance order. Your job is to place the correct accounts in
the financial statements in which they belong in the correct format!
Accounts Payable
Accounts Receivable
Accumulated Depreciation Office Equipment
Accumulated Depreciation-Store Equipment
Administrative Expenses
Cash
Cost of Merchandise Sold
Interest Expense
Maeve Burt, Capital
Maeve Burt, Drawing
Merchandise Inventory
Note Payable (due in two years)
Office Equipment
Prepaid Insurance
Rent Revenue
Salaries Payable
Sales
Selling Expenses
Store Equipment
Supplies
$97,200
64,300
72,750
162,100
56,500
53,000
121,700
12,000
81,750
52,000
93,250
154,000
149,750
6,500
17,500
28,700
365,500
41,500
325,000
4,000
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