Maurice Tutor

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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 23 Jul 2017 My Price 7.00

Taylor Electronics Company

Preparing a multi-step income statement and a classified balance sheet The accounts of Taylor Electronics Company are listed along with their balances before closing for the month ended March 31, 2012.

Interest revenue

$ 200

Accounts payable

$ 16,700

Inventory

45,100

Accounts receivable

33,600

Note payable, long–term

46,000

Accumulated depreciation

37,700

Salary payable

2,700

Retained earnings, Feb 28

38,600

Sales discounts

2,900

Dividends

20,000

Sales returns and allowances

7,500

Cash

8,000

Sales revenue

297,000

Cost of goods sold

162,300

Selling expense

38,200

Equipment

129,100

Supplies

6,000

General expenses

16,700

Unearned sales revenue

13,800

Common stock

15,500

Interest payable

1,200

 

 

Requirements

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

2. Prepare Taylor Electronics’ statement of retained earnings.

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

Answers

(5)
Status NEW Posted 23 Jul 2017 10:07 PM My Price 7.00

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