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Given the following list of accounts with normal balance, prepare a Multi-Step Income Statement, a Statement of Retained Earnings, and a Classified Balance Sheet for CRN Corporation for 2012 and 2013

Given the following list of accounts with normal balance, prepare a Multi-Step Income Statement, a Statement of Retained Earnings, and a Classified Balance Sheet for CRN Corporation for 2012 and 2013

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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Review Given the following list of accounts with normal balance, prepare a Multi-Step Income Statement, a Statement of Retained Earnings, and a Classified Balance Sheet for CRN Corporation for 2012 and 2013 Accounts Payable Accounts Receivable Accrued Expenses Payable Accumulated Depreciation Bad Debt Expense Cash Contributed Capital Cost of Goods Sold Current Maturity of Long term Debt Depreciation Expense Equipment Fuel Expense G&A Expenses Income Tax Expense Income Taxes Payable Insurance Expense Intangibles Interest Expense Inventories Land Long Term Notes Payable Notes Receivable Other Assets Other Current Assets Other Current Liabilities Other Long Term Liabilities Other Revenue Prepaid Expenses Rent Expense Retained Earnings (before closing entries) Salaries & Benefits Expense Sales Short-Term Investments Unearned Compensation Unearned Revenues Utilities Expense Additional information: Dividends Declared and Paid Market price of the stock 2013 400 910 750 1660 140 6000 14700 2800 1600 660 6700 600 2450 1750 3750 800 6500 500 2200 3750 3700 6200 5000 600 3800 2800 9500 800 1500 5000 3900 15000 4000 2200 1100 600 7600 40 2012 500 15350 250 1000 300 4500 8500 8750 1200 1000 3000 400 2200 850 2750 900 6500 350 1950 3750 16000 4500 5000 250 3500 5000 3900 500 1800 5000 3950 17000 5050 2850 3800 400 0 40
Transcribed Image Text:Review Given the following list of accounts with normal balance, prepare a Multi-Step Income Statement, a Statement of Retained Earnings, and a Classified Balance Sheet for CRN Corporation for 2012 and 2013 Accounts Payable Accounts Receivable Accrued Expenses Payable Accumulated Depreciation Bad Debt Expense Cash Contributed Capital Cost of Goods Sold Current Maturity of Long term Debt Depreciation Expense Equipment Fuel Expense G&A Expenses Income Tax Expense Income Taxes Payable Insurance Expense Intangibles Interest Expense Inventories Land Long Term Notes Payable Notes Receivable Other Assets Other Current Assets Other Current Liabilities Other Long Term Liabilities Other Revenue Prepaid Expenses Rent Expense Retained Earnings (before closing entries) Salaries & Benefits Expense Sales Short-Term Investments Unearned Compensation Unearned Revenues Utilities Expense Additional information: Dividends Declared and Paid Market price of the stock 2013 400 910 750 1660 140 6000 14700 2800 1600 660 6700 600 2450 1750 3750 800 6500 500 2200 3750 3700 6200 5000 600 3800 2800 9500 800 1500 5000 3900 15000 4000 2200 1100 600 7600 40 2012 500 15350 250 1000 300 4500 8500 8750 1200 1000 3000 400 2200 850 2750 900 6500 350 1950 3750 16000 4500 5000 250 3500 5000 3900 500 1800 5000 3950 17000 5050 2850 3800 400 0 40
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