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M4-8 Reporting an Income Statement with Earnings per Share LO3
Morgan Marketing Company has the following adjusted trial balance at December 31, 2011. No dividends were declared. However, 500 shares issued at the end of the year for $3,000 are included below:

Debit Credit
Cash $1,500
Accounts receivable 2,000
Interest receivable 100
Prepaid insurance 1,600
Notes receivable(long-term) 2,800
Equipment 15,000
Accumulated depreciation $3,000
Accounts payable 2,400
Accrued expenses payable 3,920
Income taxes payable 2,700
Unearned rent revenue 500
Contributed capital (800 shares) 3,700
Retained earnings 2,000
Sales revenue 37,450
Interest revenue 100
Rent revenue 750
Wages expense 19,000
Depreciation expense 1,800
Utilities expense 320
Insurance expense 700
Rent expense 9,000
Income tax expense 2,700
Total $56,520 $56,520

Prepare a classified income statement in good form for 2011. Include earnings per share.

Earnings Per Share ?

M4-9 Reporting a Statement of Stockholders’ Equity LO3

Using the trial balance in E4-8, prepare a statement of stockholders’ equity.

Morgan Marketing Company
“Contributed
Capital” “Retained
Earnings” “Total
Stockholders’Equity”

Balance at January 1, 2011 ? ? ?
Balance at December 31, 2011 ? ? ?

M4-10 Reporting a Balance Sheet LO3

Using the trial balance in E4-8, prepare a a classified balance sheet in good form.

M4-12 Recording Closing Entries LO5

Using the trial balance in E4-8, prepare the closing entries.

M4-1 Preparing a Trial Balance LO2

Puglisi Company has the following adjusted accounts and balances at year-end (June 30, 2010):

Accounts Payable 200 Interest Expense 70
Accounts Receivable 370 Interest Income 60
Accrued Expenses Payable 160 Inventories 660
Accumulated Depreciation 250 Land 300
Buildings and Equipment 1,400 Long-Term Debt 1,360
Cash 150 Prepaid Expenses 30
Contributed Capital 400 Salaries Expense 640
Cost of Sales 880 Sales Revenue 2,500
Depreciation Expense 150 Rent Expense 460
Income Taxes Expense 110 Retained Earnings 150
Income Taxes Payable 50 Unearned Fees 90

Required:
Prepare an adjusted trial balance in good form for the Puglisi Company at June 30, 2010.

Puglisi Company