Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 25 Sep 2017 My Price 7.00

Smith Electronics Company

Preparing a multi-step income statement and a classified balance sheet

Link Back to Chapter 4 (Classified Balance Sheet). The accounts of Smith Electronics Company are listed along with their balances before closing for the month ended October 31, 2012.

Interest revenue

$ 500

Accounts payable

$ 16,900

Inventory

45,400

Accounts receivable

33,900

Note payable, long–term

47,000

Accumulated depreciation

38,100

Salary payable

3,400

Smith, capital, Sep 30

52,500

Sales discounts

2,700

Smith, drawing

19,000

Sales returns and allowances

8,100

Cash

7,600

Sales revenue

296,500

Cost of goods sold

162,100

Selling expense

37,500

Equipment

130,900

Supplies

6,300

General expenses

16,200

Unearned sales revenue

13,800

Interest payable

1,000

Requirements

1. Prepare Smith Electronics’ multi-step income statement.

2. Prepare Smith Electronics’ statement of owner’s equity.

3. Prepare Smith Electronics’ classified balance sheet in report form.

Answers

Maurice Tutor
(5)
Status NEW Posted 25 Sep 2017 09:09 PM My Price 7.00

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