pr6-1b the following selected accounts and their current balances

The following selected accounts and their current balances appear in the ledger of Black Lab Co. for the fiscal year ended April 30, 2012:

Cash $ 42,000 Sales Returns and Allowances $ 40,000
Accounts Receivable 150,000 Sales Discounts 15,000
Merchandise Inventory 180,000 Cost of Merchandise Sold 1,855,000
Offi ce Supplies 5,000 Sales Salaries Expense 400,000
Prepaid Insurance 12,000 Advertising Expense 120,000
Offi ce Equipment 120,000 Depreciation Expense—
Accumulated Depreciation— Store Equipment 15,000
Offi ce Equipment 28,000 Miscellaneous Selling Expense 18,000
Store Equipment 500,000 Office Salaries Expense 240,000
Accumulated Depreciation— Rent Expense 38,000
Store Equipment 87,500 Insurance Expense 24,000
Accounts Payable 48,500 Depreciation Expense—
Salaries Payable 4,000 Offi ce Equipment 7,000
Note Payable Office Supplies Expense 4,000
(final payment due 2032) 140,000 Miscellaneous Administrative Exp. 6,000
Cindy Worley, Capital 386,000 Interest Expense 8,000
Cindy Worley, Drawing 45,000
Sales 3,150,000

Instructions

1. Prepare a multiple-step income statement.

2. Prepare a statement of owner’s equity.

3. Prepare a report form of balance sheet, assuming that the current portion of the note payable is $7,000.

4. Briefly explain (a) how multiple step and single-step income statement differs (b) how report form and account form balance sheet differs.

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees


We value our customers, and so ensure that our papers are 100 percent original. Our Team of professionals does not miss the mark; they ensure that step by step each paper is written uniquely. We never duplicate or work as we compare papers rest assured. We deliver our work a day before time to ensure that you don’t miss your deadlines. It is not only doing the work but delivering it at the right time. We capture the consequences of late remittances. .

Money-back guarantee

We value customer satisfaction here at popularessaywriters.com and make sure that you get the best value for your Money. It happens that sometimes you can pay twice for your order or may want to cancel it, or you feel that it doesn’t meet your requirements; our money back guarantee will give you the opportunity to get back your money. We will also refund 100% of money paid double. In case your paper does not satisfy your requirements , we request that you notify us via writing within 2 days otherwise on the third day we will assume that you have been satisfied. Do all your correspondences through our email address popularessaywriters@gmail.com.

Read more

Zero-plagiarism guarantee

At popularessaywriters.com, our professional writers know the consequence plagiarism does for our clients. We have updated software’s such as article checker and copyscape to check for originality of the custom papers before submission of the final paper to the you. Our guarantee to the customer is that we will write 100% original papers for them that are quality, timely and of low cost. We have experienced professional and competent PhD writers who will write quality custom papers for you..

Read more

Free-revision policy

. At popularessaywriters.com, we are proud to provide top-quality Essay writing service to our esteemed customers. We are ready to take up that challenging academic assignment that is giving you sleepless nights and simplify it for you according to your desired requirements. We are willing to revise your paper if it does not meet your requirements. At popularessaywriters.com, we do not compromise with quality; thus, we offer unlimited free revisions until the customer is satisfied with their custom paper. Our unlimited free revision services are provided under the following terms:.. .

Read more

Privacy policy

Popularessawriters.com knows that client’s information is an essential tool for our company. It means that whatever the client requests from our service is kept strictly confidential. It means that whoever writes for this company understands the terms and conditions hence you should not be worried because you will never see your work somewhere else...

Read more

Fair-cooperation guarantee

Rest assured that we will always be attentive to your needs and requirements. We belief in the phrase treat your neighbour as you would want them to treat you. We leave nothing to chance and always look forward to a good interaction with each other.. .

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency