Account Titles Cash Accounts Receivable Inventory Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Unearned Fees Long-term Notes Payable J. Noodle, Capital Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Salaries and Wages Expense Depreciation Expense Rent Expense Interest Expense Loss on Sale of Equipment Totals Debits 537,500 28,600 43,300 69,000 4,700 6,000 67,700 25,900 13,800 24,000 1,600 7,700 $331,800 P Credits $20,700 8,800 20,000 75,000 31,800 175,500 $331,800
Account Titles Cash Accounts Receivable Inventory Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Unearned Fees Long-term Notes Payable J. Noodle, Capital Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Salaries and Wages Expense Depreciation Expense Rent Expense Interest Expense Loss on Sale of Equipment Totals Debits 537,500 28,600 43,300 69,000 4,700 6,000 67,700 25,900 13,800 24,000 1,600 7,700 $331,800 P Credits $20,700 8,800 20,000 75,000 31,800 175,500 $331,800
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![FILE
Paste
Clipboard
A1
Ba
G
7
HOME
r
Calibri
B
Account Titles
Cash
4
READY
IU
V
INSERT
Accounts Receivable
Inventory
Prepaid Rent
6
9
Equipment
10 Accumulated Depreciation
11 Accounts Payable
12
Unearned Fees
13 Long-term Notes Payable
14 J. Noodle, Capital
Y
Font
15 Sales Revenue
16 Sales Returns and Allowances
17 Sales Discounts
18 Cost of Goods Sold
19 Salaries and Wages Expense
20 Depreciation Expense
21 Rent Expense
22
11
Merchandising operations and the multi-step income statement - Excel
PAGE LAYOUT
DATA
VIEW
A
C
1 Noodles Unlimited, Inc. sells swimming pool toys. The following adjusted trial balance
2
s for the year ended December 31, 20x1.
3
4
15
www
A A
Py
FORMULAS
E
%
Alignment Number
Debits
Conditional Format as
Cell
Formatting Table Styles-
Styles
ut fix Noodles Unlimited, Inc. sells swimming pool toys. The following adjusted trial
537,500
28,600
43,300
2,000
69,000
4,700
6,000
67,700
25,900
13,800
24,000
Credits
Interest Expense
23 Loss on Sale of Equipment
24
Totals
25
26 tequired:
27 Prepare a multisteo income statement that would be used for internal reporting purposes.
▶
Sheet1
1,600
7,700
$331,800
REVIEW
$20,700
8,800
20,000
75,000
31,800
175,500
$331,800
D
Cells
[3]
?
E
Editing
Sign In
F
+ 60%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff29ca2d6-2bfb-4448-960a-9e92648cb943%2F99eb9c1f-c800-43dc-8251-99db846f03de%2Ftqvbfyr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:FILE
Paste
Clipboard
A1
Ba
G
7
HOME
r
Calibri
B
Account Titles
Cash
4
READY
IU
V
INSERT
Accounts Receivable
Inventory
Prepaid Rent
6
9
Equipment
10 Accumulated Depreciation
11 Accounts Payable
12
Unearned Fees
13 Long-term Notes Payable
14 J. Noodle, Capital
Y
Font
15 Sales Revenue
16 Sales Returns and Allowances
17 Sales Discounts
18 Cost of Goods Sold
19 Salaries and Wages Expense
20 Depreciation Expense
21 Rent Expense
22
11
Merchandising operations and the multi-step income statement - Excel
PAGE LAYOUT
DATA
VIEW
A
C
1 Noodles Unlimited, Inc. sells swimming pool toys. The following adjusted trial balance
2
s for the year ended December 31, 20x1.
3
4
15
www
A A
Py
FORMULAS
E
%
Alignment Number
Debits
Conditional Format as
Cell
Formatting Table Styles-
Styles
ut fix Noodles Unlimited, Inc. sells swimming pool toys. The following adjusted trial
537,500
28,600
43,300
2,000
69,000
4,700
6,000
67,700
25,900
13,800
24,000
Credits
Interest Expense
23 Loss on Sale of Equipment
24
Totals
25
26 tequired:
27 Prepare a multisteo income statement that would be used for internal reporting purposes.
▶
Sheet1
1,600
7,700
$331,800
REVIEW
$20,700
8,800
20,000
75,000
31,800
175,500
$331,800
D
Cells
[3]
?
E
Editing
Sign In
F
+ 60%

Transcribed Image Text:A1
242428SFORMIDABBZS4=225S
41 Net Sales
A
26 Required:
27 1. Prepare a multistep income statement that would be used for internal reporting purposes.
28 Note: When more than one correct account could appear in a cell, list items in order of largest to
29 smallest dollar amounts. Use cell referencing to select account titles and values.
NOODLES UNLIMITED
Income Statement
For the Year Ended December 31, 2001
43 Gross Proalit
30 All numbers should appear as positive numbers.
31
2. After entering the formula in cell B52, use the Excel IF function to label cell A52 as either
"Net Income" or "Net Loss" as appropriate based on the value calculated in cell B852.
32
44 Experses:
43 Income from Operations
49 Other Expenses and Losses
Noodles Unlimited, Inc. sells swimming pool toys. The follc
▶
B
54 3. Compute the gross profit percentage.
155 Nate Makes me in include 100ettheendalous formula
Sheet1
..
C
D
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