The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2019: $ 92,000 $ 300,000 8,925,000 Gerri Faber, Drawing Cash Accounts Receivable Sales 450,000 Merchandise Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation- Office Equipment Store Equipment Accumulated Depreciation- 370,000 Cost of Merchandise Sold 5,620,000 Sales Salaries Expense 5,000 850,000 Advertising Expense 10,000 420,000 12,000 Depreciation Expense- 220,000 Store Equipment Miscellaneous Selling Expense Office Salaries Expense Rent Expense 33,000 18,000 58,000 540,000 48,000 650,000 Insurance Expense 24,000 Store Equipment 87,500 Depreciation Expense- Accounts Payable Customer Refunds Payable Salaries Payable Note Payable (final payment due 2032) Gerri Faber, Capital Office Equipment Office Supplies Expense Miscellaneous Administrative Exp. 38,500 10,000 10,000 4,000 4,000 6,000 Interest Expense 12,000 140,000 431,000 Instructions 1. Prepare a multiple-step income statement. 2. Prepare a statement of owner's equity. 3. Prepare a balance sheet, assuming that the current portion of the note payable is $7,000. 4. Briefly explain how multiple-step and single-step income statements differ.

Assume that Lululemon Athletica Inc. reported the following summarized data at December 31, 2020. Accounts appear in no particular order. Revenues: $275, Other Liabilities: $38, Other assets: $101, Cash and other Current assets: 53, Accounts Payable: $5, Expenses: $244, Shareholder's equity: $80. Prepare the Trail Balance of Lululemon at December 31,2020. List the accounts in proper order, as shown on "in class" practice. How much was Lululemon's net income or net loss?

Following are selected accounts for Best Buy, Inc., for the fiscal year ended February 2, 2019. (a) Indicate whether each account appears on the balance sheet (B) or income statement (I). Best Buy, Inc. ($ millions)Amount Classification  Sales $42,879 Answer B I    Accumulated depreciation 6,690 Answer B I  Depreciation expense   770  Answer B I  Retained earnings  2,985  Answer B I   Net income 1,464 Answer B I   Property, plant & equipment, net 2,510 Answer B I   Selling, general and admin expense 8,015 Answer B I  Accounts receivable 1,015  AnswerB I   Total liabilities 9,595  Answer B I  Stockholders' equity  3,306  Answer B  I (b) Using the data, compute total assets and total expenses. Total Assets Answer Total Expenses Answer answer complete and correct and in detail with all work

Byrd Company had the following transactions during 2019 and 2020:              1. Prepare the journal entries for Byrd for both 2019 and 2020. Assume that the net price method is used to account for the credit terms.                          2. Show how the preceding items would be reported in the current liabilities section of Byrd’s December 31, 2019, balance sheet.                                        3. Next Level Assuming Byrd’s current assets were $1,200,000 and its current ratio was 2.4 at the end of 2018, compute the current ratio at the end of 2019 (based solely on the effects of the preceding transactions).

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LuxAll  ​Inc., includes the following selected accounts in its general ledger at December​ 31, attached in ss below thanks ng wp

1.32. Creating Balance Sheets and Income Statements.  Using the information in the below table, prepare a classified balance sheet for Erie Company as of December 31, 2019 and December 31, 2020, along with multi-step income statements for the years then ended