Solution-Prepare a multiple step income statement

Prepare a multiple step income statement

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Reference no: EM13890037

The following selected accounts and their current balances appear in the ledger of Case It Co. for the fiscal year ended November 30, 2010:

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Instructions:
1. Prepare a multiple step income statement.
2. Prepare a retained earnings statement.
3. Prepare a report form of balance sheet, assuming that the current portion of the note payable is $8,000.
4. Briefly explain
(a) How multiple step and single step income statements differ and
(b) How report form and account form balance sheetsdiffer.

Reference no: EM13890037

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Prepare a multiple step income statement

Reference no: EM13890037

Reference no: EM13890037

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