Tibra Inc.'s trial balance TBAcontained the following accounts at December 31, 2021, the end of company's fiscal year. Accounts …… …… …… …… …… …… …… Balances ($) Accumulated Depreciation-Building…. …… 123000 Accumulated Depreciation-Equipment….…. 36000 Additional Paid in Capital-Common Stock.. 220000 Auditors Fee …. …. …. …. …. …. ….. ….. ….. .. 207000 Buildings…. …. …. …. …. …. ….. ….. ….. ….. ... 406000 Cash …. …. …. …. …. …. ….. ….. ….. ….. ….. …. 148220 Common Stock ($2 each)…. …. …. …. …. ….. 104000 Cost of Goods Sold …. …. …. …. ….. …. ….… 1086000 Equipment …. …. …. …. …. …. ….. ….. ….. ….. 202000 Interest Expense …. …. …. …. …. …. ….. ….. …. 23100 Loss on Sale of Property …. …. …. …. …. …. 7530 Merchandise Inventory …. …. ……. …. …. …. 235000 Mortgage Loan …. …. …. …. …. …… …. …. …. 102000 Rent Revenue …. …. …. …. …. …. … …. …. …. 51000 Retained Earnings …. …. …. …. …… …. …. …. 51700 Salaries and Wages Expense …. …. …. …. …. 108000 Sales …. …. …. …. …. …. ….. ….. ……. …. …. …. 1751000 Sales Returns and Allowances …… …. …. …. 9550 Supplies …. …. …. …. …. …. ….. ……. …. …. …. 6300 Additional Data: 1. Physical check on December 31, 2021, reveals that inventory actually on hand is $214000. 2. Buildings are being depreciated @10 % under straight line method,Equipment is being depreciated @20% under declining balance method. 3. Supplies on hand totaled $2500 on December 31, 2021, 4. $0.30000000000000004 dividend per share was declared. 5. The company is under 20% tax bracket. Prepare the followings: (a) Multistep income statement; (b) Stockholder_s Equity Statement (c) Classified Balance Sheet as at December 31, 2021
Tibra Inc.'s
Accounts …… …… …… …… …… …… …… Balances ($)
Accumulated Depreciation-Equipment….…. 36000
Additional Paid in Capital-Common Stock.. 220000
Auditors Fee …. …. …. …. …. …. ….. ….. ….. .. 207000
Buildings…. …. …. …. …. …. ….. ….. ….. ….. ... 406000
Cash …. …. …. …. …. …. ….. ….. ….. ….. ….. …. 148220
Common Stock ($2 each)…. …. …. …. …. ….. 104000
Cost of Goods Sold …. …. …. …. ….. …. ….… 1086000
Equipment …. …. …. …. …. …. ….. ….. ….. ….. 202000
Interest Expense …. …. …. …. …. …. ….. ….. …. 23100
Loss on Sale of Property …. …. …. …. …. …. 7530
Merchandise Inventory …. …. ……. …. …. …. 235000
Mortgage Loan …. …. …. …. …. …… …. …. …. 102000
Rent Revenue …. …. …. …. …. …. … …. …. …. 51000
Salaries and Wages Expense …. …. …. …. …. 108000
Sales …. …. …. …. …. …. ….. ….. ……. …. …. …. 1751000
Sales Returns and Allowances …… …. …. …. 9550
Supplies …. …. …. …. …. …. ….. ……. …. …. …. 6300
Additional Data:
1. Physical check on December 31, 2021, reveals that inventory actually on hand is $214000.
2. Buildings are being
3. Supplies on hand totaled $2500 on December 31, 2021,
4. $0.30000000000000004 dividend per share was declared.
5. The company is under 20% tax bracket.
Prepare the followings: (a) Multistep income statement; (b) Stockholder_s Equity Statement (c) Classified Balance Sheet as at December 31, 2021
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