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Prepare a classified balance sheet for the end of the current year. Assets Current assets: CATENA'S MARKETING COMPANY Total current assets Prepare a multistep income statement for the current year. (Round your earnings per share to 2 decimal places.) CATENA'S MARKETING COMPANY Operating revenues: Balance Sheet Income Statement Total operating revenues Operating expenses: Other items: Total operating expenses 0 0 0 0

Prepare a classified balance sheet for the end of the current year. Assets Current assets: CATENA'S MARKETING COMPANY Total current assets Prepare a multistep income statement for the current year. (Round your earnings per share to 2 decimal places.) CATENA'S MARKETING COMPANY Operating revenues: Balance Sheet Income Statement Total operating revenues Operating expenses: Other items: Total operating expenses 0 0 0 0

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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Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $580 were declared at the end of the year, and 630 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,520 in cash (for a total at the end of the year of 820 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit $ 1,680 2,210 250 Cash Accounts receivable Interest receivable Prepaid insurance Long-term notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable Accrued expenses payable Income taxes payable Unearned rent revenue Common Stock (820 shares) Additional paid-in capital Retained earnings Sales revenue Interest revenue Rent revenue Wages expense Depreciation expense Utilities expense Insurance expense Dant ounondo 1,770 2,910 15,900 18,500 1,790 410 740 0 510 $ Credit 2,850 2,270 580 3,760 2,640 370 82 3,618 4,230 37,350 110 600
Transcribed Image Text:Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $580 were declared at the end of the year, and 630 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,520 in cash (for a total at the end of the year of 820 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit $ 1,680 2,210 250 Cash Accounts receivable Interest receivable Prepaid insurance Long-term notes receivable Equipment Accumulated depreciation Accounts payable Dividends payable Accrued expenses payable Income taxes payable Unearned rent revenue Common Stock (820 shares) Additional paid-in capital Retained earnings Sales revenue Interest revenue Rent revenue Wages expense Depreciation expense Utilities expense Insurance expense Dant ounondo 1,770 2,910 15,900 18,500 1,790 410 740 0 510 $ Credit 2,850 2,270 580 3,760 2,640 370 82 3,618 4,230 37,350 110 600
nayoo captio Depreciation expense Utilities expense Insurance expense Rent expense Income tax expense Total Assets Current assets: Prepare a classified balance sheet for the end of the current year. Total current assets CATENA'S MARKETING COMPANY Operating revenues: CATENA'S MARKETING COMPANY Income Statement Total operating revenues 251544 1,790 Balance Sheet Prepare a multistep income statement for the current year. (Round your earnings per share to 2 decimal places.) Operating expenses: Other items: 9,510 2,790 $58,460 $58,460 410 740 Total operating expenses 0 0 0 0
Transcribed Image Text:nayoo captio Depreciation expense Utilities expense Insurance expense Rent expense Income tax expense Total Assets Current assets: Prepare a classified balance sheet for the end of the current year. Total current assets CATENA'S MARKETING COMPANY Operating revenues: CATENA'S MARKETING COMPANY Income Statement Total operating revenues 251544 1,790 Balance Sheet Prepare a multistep income statement for the current year. (Round your earnings per share to 2 decimal places.) Operating expenses: Other items: 9,510 2,790 $58,460 $58,460 410 740 Total operating expenses 0 0 0 0
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