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Multi-step Income Statements The adjusted trial balance of Crane Distributors on December 31, 2013 is shown below. CRANE DISTRIBUTORS Adjusted Trial Balance December 31, 2013 Debit $16,720 121,220 92,400 2,640 7,040 88,000 Cash Accounts Receivable Inventory Prepaid Insurance Supplies Delivery Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Salaries Expense Rent Expense Supplies Expense Utilities Expense Depreciation Expense Insurance Expense Income Tax Expense. Totals 564,740 129,800 Credit $38,500 77,000 110,000 46,200 864,380 44,000 9,240 4,400 17,600 5,280 33,000 $1,136,080 $1,136,080

Multi-step Income Statements The adjusted trial balance of Crane Distributors on December 31, 2013 is shown below. CRANE DISTRIBUTORS Adjusted Trial Balance December 31, 2013 Debit $16,720 121,220 92,400 2,640 7,040 88,000 Cash Accounts Receivable Inventory Prepaid Insurance Supplies Delivery Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Salaries Expense Rent Expense Supplies Expense Utilities Expense Depreciation Expense Insurance Expense Income Tax Expense. Totals 564,740 129,800 Credit $38,500 77,000 110,000 46,200 864,380 44,000 9,240 4,400 17,600 5,280 33,000 $1,136,080 $1,136,080

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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Sorry for Crane income statement it didn’t fit in a the page. But it says: Prepare a multi-step income expenses into one line on the income statement for selling, general and administrative expenses.
Topic: Discussion Question #1 ▬▬▬ " Business Course https://mybusinesscourse.com/platform/mod/quiz/review.php?attempt=6783005&cmid= X Sales Revenue Cost of Goods Sold Ch 4 Problems Gross profit on sales Prepare a multi-step income statement for the year ended December 31, 2013. Combi administrative expenses. Note: Do not use negative signs with your answers. CRANE DISTRIBUTORS Income Statement For the Year Ended December 31 Return to course Operating expenses Selling, General and Administrative Expenses Income before income taxes Income Tax Expense Net Income Type here to search + ✔ = ✔ $ $ 864,380✔ (564,740) * 299,640✔ Ch 6 Problems (210,320) * 89,320✔ (33,000) * 56,320 Copyright © 2022 Cambridge Business Publishers, All Rights Reserved | Terms of Use | Privacy Policy. TT H
Transcribed Image Text:Topic: Discussion Question #1 ▬▬▬ " Business Course https://mybusinesscourse.com/platform/mod/quiz/review.php?attempt=6783005&cmid= X Sales Revenue Cost of Goods Sold Ch 4 Problems Gross profit on sales Prepare a multi-step income statement for the year ended December 31, 2013. Combi administrative expenses. Note: Do not use negative signs with your answers. CRANE DISTRIBUTORS Income Statement For the Year Ended December 31 Return to course Operating expenses Selling, General and Administrative Expenses Income before income taxes Income Tax Expense Net Income Type here to search + ✔ = ✔ $ $ 864,380✔ (564,740) * 299,640✔ Ch 6 Problems (210,320) * 89,320✔ (33,000) * 56,320 Copyright © 2022 Cambridge Business Publishers, All Rights Reserved | Terms of Use | Privacy Policy. TT H
C Topic: Discussion Question #1 Business Course Question 2 Partially correct Cash Accounts Receivable Inventory Prepaid Insurance Supplies Delivery Equipment Accumulated Depreciation/ Accounts Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Salaries Expense Rent Expense Supplies Expense Utilities Expense ESC H Depreciation Expense Insurance Expense Income Tax Expense Totals JL https://mybusinesscourse.com/platform/mod/quiz/review.php?attempt=6783005&cmid=362911 101 Multi-step Income Statements The adjusted trial balance of Crane Distributors on December 31, 2013 is shown below. CRANE DISTRIBUTORS Adjusted Trial Balance December 31, 2013 Debit $16,720 121,220 92,400 2,640 7,040 88,000 Type here to search FI @ X 2 F2 Ch 4 Problems Mark 5.45 out of 7.50 # * Return to course 3 564,740 129,800 44,000 9,240 4,400 17,600 5,280 33,000 $1,136,080 $1,136,080 Credit F3 $38,500 77,000 110,000 46,200 864,380 $ 9 6 F4 4 PFlag question O Al 40 X % FS mbe Ch 6 Problems 5 4 F6 Edit question 6 F7 & 7 * x a youtube - Search ΟΠΕΠ 144 F8 8 F9 ( 9 AAI FIO 0 5 F
Transcribed Image Text:C Topic: Discussion Question #1 Business Course Question 2 Partially correct Cash Accounts Receivable Inventory Prepaid Insurance Supplies Delivery Equipment Accumulated Depreciation/ Accounts Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Salaries Expense Rent Expense Supplies Expense Utilities Expense ESC H Depreciation Expense Insurance Expense Income Tax Expense Totals JL https://mybusinesscourse.com/platform/mod/quiz/review.php?attempt=6783005&cmid=362911 101 Multi-step Income Statements The adjusted trial balance of Crane Distributors on December 31, 2013 is shown below. CRANE DISTRIBUTORS Adjusted Trial Balance December 31, 2013 Debit $16,720 121,220 92,400 2,640 7,040 88,000 Type here to search FI @ X 2 F2 Ch 4 Problems Mark 5.45 out of 7.50 # * Return to course 3 564,740 129,800 44,000 9,240 4,400 17,600 5,280 33,000 $1,136,080 $1,136,080 Credit F3 $38,500 77,000 110,000 46,200 864,380 $ 9 6 F4 4 PFlag question O Al 40 X % FS mbe Ch 6 Problems 5 4 F6 Edit question 6 F7 & 7 * x a youtube - Search ΟΠΕΠ 144 F8 8 F9 ( 9 AAI FIO 0 5 F
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