From the adjusted trial balance for Brookstone Art Supplies, Inc. given below, prepare a multiple-step income statement in good form. Brookstone Art Supplies, Inc. Adjusted Trial Balance December 31 Cash Accounts receivable Merchandise inventory Office supplies Store equipment Accumulated depreciation-store equipment Office equipment Accumulated depreciation-office equipment Accounts payable Notes payable Common stock Retained earnings Dividends Sales Debit $9,400 25,000 36,000 900 75,000 60,000 48,000 Credit $22,000 15,000 42,000 10,000 1,000 109,700 325,000

From the adjusted trial balance for Brookstone Art Supplies, Inc. given below, prepare a multiple-step income statement in good form. Brookstone Art Supplies, Inc. Adjusted Trial Balance December 31 Cash Accounts receivable Merchandise inventory Office supplies Store equipment Accumulated depreciation-store equipment Office equipment Accumulated depreciation-office equipment Accounts payable Notes payable Common stock Retained earnings Dividends Sales Debit $9,400 25,000 36,000 900 75,000 60,000 48,000 Credit $22,000 15,000 42,000 10,000 1,000 109,700 325,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 48CE

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