The Income Statement and Balance Sheet columns below are from the work sheet of Bleeker Street Bounty for the year ended

[answerhappygod]

The Income Statement And Balance Sheet Columns Below Are From The Work Sheet Of Bleeker Street Bounty For The Year Ended 1 (81.22 KiB) Viewed 63 times

The Income Statement and Balance Sheet columns below are from the work sheet of Bleeker Street Bounty for the year ended December 31, 2020. From the work sheet, prepare a multiple-step income statement, a statement of owners' equity | and a classified balance sheet. The current year's portion of the Long - Term payable is $6,000. 1. Prepare a multiple-step income statement Bleeker Street Bounty Work Sheet (partial) For the year ended December 31, 20-- Bleeker Street Bounty Income Statement For Year Ended December 31, 2020 Account Title Income Statement Debit Credit Revenue from sales: Balance Sheet Debit Credit 12,300 25,000 16,000 Cost of goods sold: 1,100 600 1,500 66,000 38.000 18,000 10,000 22,300 400 36,000 50.600 Cash Accounts Receivable Merchandise Inventory Store Supplies Office Supplies Prepaid Insurance Store Equipment Accumulated Depreciation—Store Equipment Office Equipment Accumulated Depreciation Office Equipment Accounts Payable Salaries Payable Long-Term Notes Payable Carlo Perez, Capital Carlo Perez, Drawing Income Summary Sales Sales Returns and Allowances Purchases Purchases Returns and Allowances Purchases Discounts Sales Salary Expense (selling) Office Salary Expense (general) Store Supplies Expense (selling) Office Supplies Expense (general) Insurance Expense (general) Depreciation Expense—Store Equipment (selling) Depreciation Expense-Office Equipment (general) 32,000 17,000 16.000 61.500 500 23,000 Operating expenses: Selling expenses: 700 400 10.500 9,200 800 Total selling expense Administrative expense: 400 300 900 800 63,400 15,200 78,600 78,600 172,500 Net Income 157,300 15,200 172.500 Total administrative expense Total operating expenses 78,600 172,500