Exercise 4 14A Algo Single step and multistep Income statements LO 4 6 The following Information was taken from the accounts of

Question

Exercise 4 14A Algo Single step and multistep Income statements LO 4 6 The following Information was taken from the accounts of Green Market a small grocery store at December 31 Year 2 The accounts are listed in alphabetical order and all have normal balances Dollar amounts are given in thousands Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings 1 1 Year 21 Sales revenue Salaries expense Rent expense Gain on sale of land Required Prepare an Income statement for the year using the single step and multistep approach Complete this question by entering your answers in the tabs below Single Step 601 401 200 411 201 600 69 440 41 636 1 010 148 100 46 Multistep Expenses Prepare an income statement for the year using the single step approach Enter values in thousands of dollars Amounts to be deducted and losses should be indicated with a minus sign GREEN MARKET Income Statement For the Year Ended December 31 Year 2

Kunduz · Accepted Answer

Click to see the answer