Nomor Telepon Taksi

1. Blue Bird Call Center : 7917-1234
2. Express Taxi Call Center : 2650-9000
3. Gamya Call Center : 840-3838
4. Golden Taxi Call Center  : 6530-0333
5. Indah Family Taksi Call Center  : 864-3626
6. Putra Taksi Call Center  : 781- 7771
7. Silver Bird Call Center  : 798-1234
8. Steady Safe Call Center : 392- 2222
9. Taxiku  Call Center : 4786-2121
10. Tiffani Taksi Call Center : 585- 4545
11. Transcab Taksi Call Center : 5835-5500

Membuat Laporan Laba Rugi dan Laporan Perubahan Modal ( Make Income statement and retained earnings statement )

Latihan Akuntansi 1

Membuat Laporan Laba Rugi  dan Laporan Perubahan Modal

Make Income statement and retained earnings statement.

Soal (Problem)

Porter Corporation's capital structure consists of 50,000 shares of common stock. At December 31, 2010 an analysis of the accounts and discussions with company officials revealed the following information:

            Sales                                                              $1,100,000

            Purchase discounts                                                18,000

            Purchases                                                            642,000

            Earthquake loss (net of tax) (extraordinary item)     42,000

            Selling expenses                                                   128,000

            Cash                                                                      60,000

            Accounts receivable                                               90,000

            Common stock                                                    200,000

            Accumulated depreciation                                    180,000

            Dividend revenue                                                     8,000

            Inventory, January 1, 2010                                   152,000

            Inventory, December 31, 2010                             125,000

            Unearned service revenue                                         4,400

            Accrued interest payable                                          1,000

            Land                                                                    370,000

            Patents                                                                 100,000

            Retained earnings, January 1, 2010                       290,000

            Interest expense                                                     17,000

            General and administrative expenses                      150,000

            Dividends declared                                                 29,000

            Allowance for doubtful accounts                               5,000

            Notes payable (maturity 7/1/13)                           200,000

            Machinery and equipment                                    450,000

            Materials and supplies                                           40,000

            Accounts payable                                                 60,000

The amount of income taxes applicable to ordinary income was $48,600, excluding the tax effect of the earthquake loss which amounted to $18,000.

Instructions

(a)  Prepare a multiple-step income statement.

(b)  Prepare a retained earnings statement.

Solution

Source : Test Bank for Intermediate Accounting, Thirteenth Edition 
              Kieso, Weygandt, and Warfield