NSTRUCTIONS: Use the account information below to construct (1) 2023 multi-step income statement, (2) 2023 classified balance sheet, and (3) 2023 statement of cash flow--indirect. 12/31/2023 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 nventories nterest Revenue _and and 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 ?? ?? 2 14 40 25 90 100 20 80 105 80 480 30 1 10 15 4 6 3 60 16 30 3 65 30 20 28 55 7 25 50 25 40 25 20 19 70 60 2 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 ignore 2022 -ignore 2022 --ignore 2022 -ignore 2022 - 0 25 16 -- gross gain --ignore2022 65 30 20 -- taxes are assessed at 40% for all situations --ignore 2022 55 --ignore 2022 25 50 -- gross 36 25 19 70 60 net of tax refund -no event in 2022 85 compute 2023 ignore 2022 -ignore 2022 -ignore 2022 65 no security purchases or revaluation in 2022 -ignore 2022
NSTRUCTIONS: Use the account information below to construct (1) 2023 multi-step income statement, (2) 2023 classified balance sheet, and (3) 2023 statement of cash flow--indirect. 12/31/2023 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 nventories nterest Revenue _and and 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 ?? ?? 2 14 40 25 90 100 20 80 105 80 480 30 1 10 15 4 6 3 60 16 30 3 65 30 20 28 55 7 25 50 25 40 25 20 19 70 60 2 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 ignore 2022 -ignore 2022 --ignore 2022 -ignore 2022 - 0 25 16 -- gross gain --ignore2022 65 30 20 -- taxes are assessed at 40% for all situations --ignore 2022 55 --ignore 2022 25 50 -- gross 36 25 19 70 60 net of tax refund -no event in 2022 85 compute 2023 ignore 2022 -ignore 2022 -ignore 2022 65 no security purchases or revaluation in 2022 -ignore 2022
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:INSTRUCTIONS: Use the account information below to construct (1) 2023 multi-step income statement,
(2) 2023 classified balance sheet, and (3) 2023 statement of cash flow--indirect.
12/31/2023
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
Unrealized Loss on Available-for-saleSecurities
??
??
?
14
40
25
90
100
20
80
105
80
480
30
1
10
15
4
6
3
60
16
30
3
65
30
20
28
55
7
25
50
25
40
25
20
19
70
60
2
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
--ignore 2022
--ignore 2022
--ignore 2022
--ignore 2022
0
25
16
-- gross gain
-- ignore2022
65
30
20
-- taxes are assessed at 40% for all situations
-ignore 2022
55
--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
--ignore 2022
65 no security purchases or revaluation in 2022
--ignore 2022
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