Homework Help is Here – Start Your Trial Now!
Business
Accounting
Account Title Accounts Payable Accounts Receivable Accrued Expenses Payable Accumulated Depreciation Additional Paid-in Capital in Excess of par Administrative Expense Available-for-sale securities Buildings Cash Common Stock ($2 par/share) Cost of Goods Sold Cumulative Comprehensive Income Items Deferred Revenue-deposits by customers Depreciation Expense Dividend Revenue Dividends declared on common stock. Dividends paid on preferred stock Dividends Payable Equipment Franchise Gain (gross) on asset sale of discontinued division Gain on sale of trading securities Goodwill Hold-to-maturity securities Income tax payable Income Tax Provision--expense Interest Expense Inventories Interest Revenue Land Land held for expansion Operating Loss (gross) of discontinued division Note Payable in 2030 Note Payable in 2024 Paid additional taxes assessed for 2020.net Patent Pension Obligation Preferred Stock ($5 par), 10% dividend Rearrange & Restructure Operations Costs Retained Earnings Sales Returns Sales Revenue Selling Expense Trading Securities Houn Unrealized Loss on Available-for-saleSecurities 12/31/2023 ?? 14 40 25 90 100 20 80 105 80 480 30 10 15 4 6 3 60 16 30 3 65 30 20 28 55 25 50 25 40 25 20 19 70 60 2 10 800 180 60 2022 Comment 14 43 32 80 95 35 1 85 105 20 2023 needs to be calculated in SCF 50 new shares were issued September 1, 2023 ********* ignore 2022 0 25 16 20 ignore 2022 Ram -gross gain ** ignore2022 65 30 55 25 50 ignore 2022 ignore 2022 ignore 2022 ignore 2022 taxes are assessed at 40% for all situations ignore 2022 ignore 2022 --gross 36 25 -net of tax refund 19 70 60 ********* --no event in 2022 85 compute 2023 ignore 2022 ignore 2022 ignore 2022 ******** ***** ******* www ****** ********** 65 no security purchases or revaluation in 2022 -ignore 2022 *********

Account Title Accounts Payable Accounts Receivable Accrued Expenses Payable Accumulated Depreciation Additional Paid-in Capital in Excess of par Administrative Expense Available-for-sale securities Buildings Cash Common Stock ($2 par/share) Cost of Goods Sold Cumulative Comprehensive Income Items Deferred Revenue-deposits by customers Depreciation Expense Dividend Revenue Dividends declared on common stock. Dividends paid on preferred stock Dividends Payable Equipment Franchise Gain (gross) on asset sale of discontinued division Gain on sale of trading securities Goodwill Hold-to-maturity securities Income tax payable Income Tax Provision--expense Interest Expense Inventories Interest Revenue Land Land held for expansion Operating Loss (gross) of discontinued division Note Payable in 2030 Note Payable in 2024 Paid additional taxes assessed for 2020.net Patent Pension Obligation Preferred Stock ($5 par), 10% dividend Rearrange & Restructure Operations Costs Retained Earnings Sales Returns Sales Revenue Selling Expense Trading Securities Houn Unrealized Loss on Available-for-saleSecurities 12/31/2023 ?? 14 40 25 90 100 20 80 105 80 480 30 10 15 4 6 3 60 16 30 3 65 30 20 28 55 25 50 25 40 25 20 19 70 60 2 10 800 180 60 2022 Comment 14 43 32 80 95 35 1 85 105 20 2023 needs to be calculated in SCF 50 new shares were issued September 1, 2023 ********* ignore 2022 0 25 16 20 ignore 2022 Ram -gross gain ** ignore2022 65 30 55 25 50 ignore 2022 ignore 2022 ignore 2022 ignore 2022 taxes are assessed at 40% for all situations ignore 2022 ignore 2022 --gross 36 25 -net of tax refund 19 70 60 ********* --no event in 2022 85 compute 2023 ignore 2022 ignore 2022 ignore 2022 ******** ***** ******* www ****** ********** 65 no security purchases or revaluation in 2022 -ignore 2022 *********

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%

Please draft a 2023 multi-step income statement from the account information listed below please.

Account Title Accounts Payable Accounts Receivable Accrued Expenses Payable Accumulated Depreciation Additional Paid-in Capital in Excess of par Administrative Expense Available-for-sale securities Buildings Cash Common Stock ($2 par/share) Cost of Goods Sold Cumulative Comprehensive Income Items Deferred Revenue---deposits by customers Depreciation Expense Dividend Revenue Dividends declared on common stock Dividends paid on preferred stock Dividends Payable Equipment Franchise ************* Gain (gross) on asset sale of discontinued division M omndum Gain on sale of trading securities Goodwill Hold-to-maturity securities Income tax payable Income Tax Provision--expense Interest Expense Inventories Interest Revenue Land Land held for expansion Operating Loss (gross) of discontinued division Note Payable in 2030 Note Payable in 2024 Paid additional taxes assessed for 2020, net Patent Pension Obligation Preferred Stock ($5 par), 10% dividend Rearrange & Restructure Operations Costs Retained Earnings Sales Returns Sales Revenue Selling Expense Trading Securities Unrealized Loss on Available-for-saleSecurities 12/31/2023 ?? ?? 14 40 25 90 100 lalaglögggg 20 80 105 80 480 30 1 10 15 4 6 3 60 16 30 3 65 30 1818 1818 20 28 55 25 50 25 40 25 NIN 20 19 70 60 2 2888" 10 800 180 60 5 2022 Comment 14 43 32 80 95 --ignore 2022 85 105 20 2023 needs to be calculated in SCF 50 new shares were issued September 1, 2023 ignore 2022 - 35 1 0 25 16 65 30 20 ignore 2022 ignore 2022 ignore 2022 ignore 2022 55 gross gain ignore2022 taxes are assessed at 40% for all situations -ignore 2022 --ignore 2022 25 50 --gross ******* 36 25 --net of tax refund. 19 70 60 --no event in 2022 85 compute 2023 ignore 2022 ignore 2022 Hann ignore 2022 65 no security purchases or revaluation in 2022 ignore 2022
Transcribed Image Text:Account Title Accounts Payable Accounts Receivable Accrued Expenses Payable Accumulated Depreciation Additional Paid-in Capital in Excess of par Administrative Expense Available-for-sale securities Buildings Cash Common Stock ($2 par/share) Cost of Goods Sold Cumulative Comprehensive Income Items Deferred Revenue---deposits by customers Depreciation Expense Dividend Revenue Dividends declared on common stock Dividends paid on preferred stock Dividends Payable Equipment Franchise ************* Gain (gross) on asset sale of discontinued division M omndum Gain on sale of trading securities Goodwill Hold-to-maturity securities Income tax payable Income Tax Provision--expense Interest Expense Inventories Interest Revenue Land Land held for expansion Operating Loss (gross) of discontinued division Note Payable in 2030 Note Payable in 2024 Paid additional taxes assessed for 2020, net Patent Pension Obligation Preferred Stock ($5 par), 10% dividend Rearrange & Restructure Operations Costs Retained Earnings Sales Returns Sales Revenue Selling Expense Trading Securities Unrealized Loss on Available-for-saleSecurities 12/31/2023 ?? ?? 14 40 25 90 100 lalaglögggg 20 80 105 80 480 30 1 10 15 4 6 3 60 16 30 3 65 30 1818 1818 20 28 55 25 50 25 40 25 NIN 20 19 70 60 2 2888" 10 800 180 60 5 2022 Comment 14 43 32 80 95 --ignore 2022 85 105 20 2023 needs to be calculated in SCF 50 new shares were issued September 1, 2023 ignore 2022 - 35 1 0 25 16 65 30 20 ignore 2022 ignore 2022 ignore 2022 ignore 2022 55 gross gain ignore2022 taxes are assessed at 40% for all situations -ignore 2022 --ignore 2022 25 50 --gross ******* 36 25 --net of tax refund. 19 70 60 --no event in 2022 85 compute 2023 ignore 2022 ignore 2022 Hann ignore 2022 65 no security purchases or revaluation in 2022 ignore 2022
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

May I also ask why Gane on sale of asset from discontinued operations is reported on the answer at 18 when its on the account information it is reported at 30? As well as operating loss on discontinued operation is at 15 but the account information says 25. Thank you.

Solution
Bartleby Expert
SEE SOLUTION
Follow-up Question

May you explain why rearrange and restructure operations costs were not included?

Solution
Bartleby Expert
SEE SOLUTION
Knowledge Booster
Ratio Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS