Problem 6-6A
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.
Mia Reynolds, capital, September 1, 2013
Mia Reynolds, capital, August 31, 2014
3.
Current assets: Current liabilities:
Long-term liabilities:
Property, plant, and equipment: Total liabilities
Office equipment
Store equipment Mia Reynolds, capital
Total property, plant, and equipment
Total assets Total liabilities and owner’s equity
Closing Entries
Name:
Section:
Total current assets:
0%
[Key code here]
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Aug. 31
31
31
31
GLOUCESTER CO.
Income Statement
2014
Assets
Statement of Owner’s Equity
GLOUCESTER CO.
Balance Sheet
GLOUCESTER CO.
Liabilities
Owner’s Equity
Total current liabilities:
Problem 6-6A
Scoring:
Instructions
Answers are entered in the cells with gray backgrounds.
1.
Revenues:
Net sales 4,517,000$
Expenses:
Cost of merchandise sold 2,650,000$
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.
GLOUCESTER CO.
Income Statement
For the Year Ended August 31, 2014