Description
Using Excel, prepare a classified balance sheet and multistep income statement using the adjusted trial balance for ABC Corporation as of and for the year ended December 31, 2018.
Use the “AMP-415-ABC Corporation Student Worksheet” attachment to complete this assignment.
APA style is not required, but solid academic writing is expected.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
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ABC Corporation Balance Sheet and Income Statement
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ABC Corporation is a t-shirt manufacturer that leases a multi-use space for all of its needs.
Accounts Payable
Accounts Receivable
Accumulated Depreciation – Machinery and Equipment
Accumulated Depreciation – Office Equipment
Cash
Common Stock
Cost of Goods Sold
Depreciation Expense
Interest Expense
Interest Payable
Inventory
Machinery and Equipment
Marketing Expense
Notes Payable
Office Equipment
Retained Earnings
Salaries Expense
Salaries Payable
Sales Revenue
Supplies
Supplies Expense
Utilities Expense
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
1.200
3.500
(1.625)
(1.400)
10.400
10.000
60.000
3.025
640
640
7.500
13.000
3.000
8.000
4.200
22.000
600
125.000
1.000
8.200
12.000
Prepare a multi-step income statement for the year ended December 31, 2018 for ABC Corporation.
Prepare a classified balance sheet as of December 31, 2019 for ABC Corporation.
Comment on the financial results for this company.
s of December 31, 2018.
ABC Corporation
Income Statement
For the Year Ended December 31, 2018
Less:
Gross Profit
Less Operating Expenses:
Income from Operations
Less Other Expenses:
Net Income (Loss)
Student, fill in all of the highlighted spaces.
ABC Corporation
Balance Sheet
As of December 31, 2018
Assets
Current Assets:
Total Current Assets
Long-Term Assets:
Total Assets
Liabilities and Stockholders Equity
Current Liabilities:
Long-Term Liabilities:
Total Liabilities:
Stockholder’s Equity:
Total Liabilities and Stockholder’s Equity
Student, fill in all of the highlighted spaces.
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