Business & Finance Assignment | Custom Assignment Help
- Tempe Corporation Capital Structure consists of 90,000 shares of common stock. The December 31, 2016 account balances are listed below. All Adjusting entries have been made except for the accrual of taxes (20%) rate.
Sales: 1,352,500
Purchases Discount 19,000
Purchases 681,000
Loss on discontinued Operations 75,000
Selling Expenses 124,000
Cash 65,000
Accounts Receivable 95,000
Common Stock 180,000
Accumulated Depreciation 157,000
Dividend Revenue 7500
Inventory January 1, 2016 158,000
Unearned Revenue 5,800
Accrued Interest Payable 1,500
Land 268,000
Patents 75,000
Retained Earnings January 1, 2016 286,000
Interest Expense 15,000
General and Administrative Expense 143,000
Dividends Declared 25,000
Allowance for Doubtful Accounts 5,700
Notes Payable 175,000
Machinery and Equipment 495,000
Office Supplies 50,000
Accounts Payable 79,000
Inventory December 31,2016
a) Prepare a Multi-Step income statement; include EPS
b) Prepare a Retained Earnings Statement
c) Prepare a 12/31/16 Balance Sheet
