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The Marigold Corp. is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the company's fiscal year on November 30, 2022, the following accounts appeared in two of its trial balances All accounts balances are normal Accounts Payable Accounts Receivable Accumulated Depr.-Equipment Cash Common Stock Cost of Goods Sold Dividends Freight-Out Equipment Depreciation Expense Insurance Expense Interest Expense Interest Revenue (al) Unadjusted $25.300 30.800 33,500 27,000 21.300 515.000 9.500 5,300 146,000 6.300 9.500 Adjusted $25,000 30.000 Notes payable Inventory 44,000 Prepaid Insurance 27,000 Property Tax Expense 21,300 Property Taxes Payable $15,000 Rent Expense 9.500 Retained Earnings 5,300 Salaries and Wages Expense 146,000 Sales Commissions Expense 10,500 Sales Commissions Payable 7,200 Sales Returns and Allowances 6.300 Sales Revenue 9,500 Utilities Expense नत्र The Marigold Corp. Income Statement $ Unadjusted Adjusted $29.500 $29,500 V 38.000 10,300 15.200 61,700 92.400 6.500 7.300 Prepare a multiple-step income statement. (List other revenues before other expenses. If there is a net loss then enter the amount using either a negative sin preceding the number eg 45 or parentheses eg (45)) 38,000 3,100 2.500 2,500 15,200 61,700 92.600 8.000 11,000 4,500 7,300 720.000 720,000 8,000 E E

The Marigold Corp. is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the company's fiscal year on November 30, 2022, the following accounts appeared in two of its trial balances All accounts balances are normal Accounts Payable Accounts Receivable Accumulated Depr.-Equipment Cash Common Stock Cost of Goods Sold Dividends Freight-Out Equipment Depreciation Expense Insurance Expense Interest Expense Interest Revenue (al) Unadjusted $25.300 30.800 33,500 27,000 21.300 515.000 9.500 5,300 146,000 6.300 9.500 Adjusted $25,000 30.000 Notes payable Inventory 44,000 Prepaid Insurance 27,000 Property Tax Expense 21,300 Property Taxes Payable $15,000 Rent Expense 9.500 Retained Earnings 5,300 Salaries and Wages Expense 146,000 Sales Commissions Expense 10,500 Sales Commissions Payable 7,200 Sales Returns and Allowances 6.300 Sales Revenue 9,500 Utilities Expense नत्र The Marigold Corp. Income Statement $ Unadjusted Adjusted $29.500 $29,500 V 38.000 10,300 15.200 61,700 92.400 6.500 7.300 Prepare a multiple-step income statement. (List other revenues before other expenses. If there is a net loss then enter the amount using either a negative sin preceding the number eg 45 or parentheses eg (45)) 38,000 3,100 2.500 2,500 15,200 61,700 92.600 8.000 11,000 4,500 7,300 720.000 720,000 8,000 E E

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter5: Sales And Receivables
Section: Chapter Questions
Problem 65E: Average Uncollectible Account Losses and Bad Debt Expense The accountant for Porile Company prepared...
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Current Attempt in Progress The Marigold Corp. is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the company's fiscal year on November 30, 2022, the following accounts appeared in two of its trial balances. All accounts balances are normal Accounts Payable Accounts Receivable Accumulated Depr.-Equipment Cash Common Stock Cost of Goods Sold Dividends Freight Out Equipment Depreciation Expense Insurance Expense Interest Expense Interest Revenue (al) Unadjusted Adjusted $25.300 $25,300 30.800 33,500 44,000 27,000 27,000 21,300 $15,000 9.500 21,300 515.000 9.500 5.300 146.000 6.300 9.500 30,800 > 5,300 146,000 10,500 7,200 6.300 9,500 Inventory Notes payable Prepaid Insurance Property Tax Expense Property Taxes Payable Rent Expense Retained Earnings Salaries and Wages Expense Sales Commissions Expense Sales Commissions Payable Sales Returns and Allowances Sales Revenue Utilities Expense Unadjusted Adjusted $29.500 $29.500 38.000 38,000 10,300 The Marigold Corp. Income Statement 15.200 61,700 92.400 6.500 3,100 2,500 2,500 15,200 61,700 92,600 8,000 11.000 4,500 7,300 7,300 720,000 720,000 Prepare a multiple-step income statement. (List other revenues before other expenses. If there is a net loss then enter the amount using either a negative sin preceding the number eg -45 or parentheses eg. (45)) 8,000 E
Transcribed Image Text:Current Attempt in Progress The Marigold Corp. is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the company's fiscal year on November 30, 2022, the following accounts appeared in two of its trial balances. All accounts balances are normal Accounts Payable Accounts Receivable Accumulated Depr.-Equipment Cash Common Stock Cost of Goods Sold Dividends Freight Out Equipment Depreciation Expense Insurance Expense Interest Expense Interest Revenue (al) Unadjusted Adjusted $25.300 $25,300 30.800 33,500 44,000 27,000 27,000 21,300 $15,000 9.500 21,300 515.000 9.500 5.300 146.000 6.300 9.500 30,800 > 5,300 146,000 10,500 7,200 6.300 9,500 Inventory Notes payable Prepaid Insurance Property Tax Expense Property Taxes Payable Rent Expense Retained Earnings Salaries and Wages Expense Sales Commissions Expense Sales Commissions Payable Sales Returns and Allowances Sales Revenue Utilities Expense Unadjusted Adjusted $29.500 $29.500 38.000 38,000 10,300 The Marigold Corp. Income Statement 15.200 61,700 92.400 6.500 3,100 2,500 2,500 15,200 61,700 92,600 8,000 11.000 4,500 7,300 7,300 720,000 720,000 Prepare a multiple-step income statement. (List other revenues before other expenses. If there is a net loss then enter the amount using either a negative sin preceding the number eg -45 or parentheses eg. (45)) 8,000 E
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