Accounting 200: Comprehensive Homework 3 Part 2 Rochman Water Company

Accounting 200 Comprehensive Homework 3 Part 2: Using the trial balance below for Rochman Water Company (this is a different company and new problem), prepare (1) a Multi-step Income Statement and prepare (2) the Statement of Retained Earnings and (3) Classified Balance Sheet on the pages which follow. To get full credit you must include all critical subtotals. Rochman Water Company Adjusted Trial Balance December 31, 2014 Debit Credit Cash 2,517 Accounts Receivable 1,560 Allowance for Uncollectible Accounts 17 Short term Note Receivable 76 Interest Receivable 2 Supplies 35 Inventory 1,019 Prepaid Expenses 15 Equipment 8,725 Accumulated Depreciation 975 Copyrights 98 Accounts Payable 370 Interest Payable 2 Unearned Revenue 40 Long Term Note Payable 3,400 Common Stock 6,600 Add’l Paid-in-Capital 800 Retained Earnings (1/1/12) 2,000 Dividends 100 Sales 34,900 Sales Returns & Allowances 34 Sales Discounts 65 Cost of Goods Sold 30,200 Bad debt expense 34 Depreciation Expense 276 Amortization Expense 11 Wages Expense 2,000 Rent Expense 500 Office Expense 79 Supplies Expense 100 Selling Expense 816 Interest Expense 100 Interest Revenue 8 Income Tax Expense 750 Totals $49,112 $49,112 (Tips: see the illustration 5-11 on Page 245 in your textbook) (Tips: look at the presentation of illustration 2-2 on Page 49 in your textbook)