Problem 5-6B
Score:
Key Code:
Instructions
Answers are entered in the cells with gray backgrounds.
An asterisk (*) will appear to the right of an incorrect entry.
1.
Revenues:
Net sales
Expenses:
Total expenses
Net income
2.
Retained earnings, July 1, 2013
Retained earnings, June 30, 2014
3.
Current assets: Current liabilities:
Long-term liabilities:
Property, plant, and equipment: Total liabilities
Office equipment
Capital stock
Store equipment Retained earnings
Total stockholders’ equity
Total property, plant, and equipment
Total assets Total liabilities and stockholders’ equity
4.
Closing Entries
0%
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
June 30
30
30
Name:
Section:
2014
Assets
KANPUR CO.
KANPUR CO.
Income Statement
Retained Earnings Statement
Stockholders’ Equity
Balance Sheet
KANPUR CO.
Liabilities
Total current liabilities:
30
Problem 5-6B
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
1.
Revenues:
Net sales 8,925,000$
Expenses:
3.
Current assets: Current liabilities:
Closing Entries
Sales 9,175,000
For the Year Ended June 30, 2014
KANPUR CO.
Name:
Solution
Section:
ON
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
KANPUR CO.
Income Statement
June 30
2014
Balance Sheet
June 30, 2014
Liabilities
Assets
Net income for the year
Less dividends
Increase in retained earnings