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.
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| Solution |
Source : Test Bank for Intermediate Accounting, Thirteenth Edition
Kieso, Weygandt, and Warfield
thanks for your help:)
ReplyDeleteThank you
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