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Problem 5-5B
Score:
Key Code:
Instructions
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1.
Revenue from sales:
Less:
Net sales
Cost of merchandise sold
Gross profit
Expenses:
Selling expenses:
Total selling expenses
Administrative expenses:
Total administrative expenses
Total expenses
Income from operations
Other expense:
Net income
2.
Retained earnings, July 1, 2013
Retained earnings, June 30, 2014
[Key code here]
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Name:
Section:
0%
KANPUR CO.
Income Statement
KANPUR CO.
Retained Earnings Statement
3.
Current assets:
Property, plant, and equipment:
Office equipment
Store equipment
Total property, plant and equipment
Total assets
Current liabilities:
Long-term liabilities:
Total liabilities
Capital stock
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity
4. a.
b.
Stockholders' Equity
(Enter essay answer here)
(Enter essay answer here)
Total current liabilities:
Total current assets:
Liabilities
Balance Sheet
Assets
KANPUR CO.
Problem 5-5B
Key Code:
Instructions
Answers are entered in the cells with gray backgrounds.
1.
Revenues from sales:
9,175,000$
2.
Retained earnings, July 1, 2013 381,000$
3.
Name:
Solution
Section:
ON
KANPUR CO.
Retained Earnings Statement
For the Year Ended June 30, 2014
Score:
For the Year Ended June 30, 2014
Sales
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry. Essay answers will not be graded.
KANPUR CO.
Income Statement
KANPUR CO.
Current assets:
92,000$
Balance Sheet
June 30, 2014
Assets
Cash
