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)
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