Sub: Accounts Topic: Statement of Accounts
Preparation of Multi-step Income statement.
ClassOf1 provides expert guidance to College, Graduate, and High school students on homework and assignment problems in
Math, Sciences, Finance, Marketing, Statistics, Economics, Engineering, and many other subjects.
A partial trial balance for Franklin Enterprises at December 31, 2009 included the following:
Sales revenue $1,850,000
Loss on sale of equipment 30,000
Interest revenue 80,000
Interest expense 20,000
Loss on expropriated assets 150,000
Cost of goods sold 1,100,000