Multi Step Income Statement Template - Free Download
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Problem 6-8A
2. Multi-step income statement 3. Single-step income statement
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 4,000
Merchandise inventory 11,500
Store supplies 5,000 Sales
Prepaid insurance 2,000 Less: Sales discounts -
Store equipment 45,000 Net sales -
Accumulated amortization, store 6,000 Cost of goods sold
Accounts payable 8,000 Gross profit -
Ruth Helm, capital 35,200 Operating expenses:
Ruth Helm, withdrawals 3,500 Selling expenses:
Sales 90,000
Sales discounts 1,000
Cost of goods sold 37,400 Total selling expenses -
Amortization expense, store - General and administrative expenses:
Salaries expense 16,000
Insurance expense -
Rent expense 5,000
Store supplies expense -
Advertising expense 8,800 Total general and administrative expenses
Tot al s 139,200 139,200 Total operating expenses -
Net income
-
-$
Unadjusted Trial
Balance
Ruth's Place
Income Statement
Ruth's Place
Income Statement
For Year Ended December 31, 2001
For Year Ended December 31, 2001
Balance Sheet &
Statement of Owner's
Equity
Ruth's Place
Work Sheet
For Year Ended December 31, 2001
Adjustments
Adjusted Trial
Balance
Income Statement
Account
