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Twain Corporation_Income statement_Question

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Question;The following account balances were included in the trial balance of Twain Corporation at June 30, 2012.The Retained Earnings account had a balance of $337,000 at July 1, 2011. There are 80,000 shares of common stock outstanding.Instructions(a) Using the multiple-step form, prepare an income statement and a retained earnings statement for the year ended June 30, 2012.(b) Using the single-step form, prepare an income statement and a retained earnings statement for the year ended June 30,2012.

 

Paper#37543 | Written in 18-Jul-2015

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