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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:

76_59-B-A-M-B (396).PNG

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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