Accounting Worksheet for Chapter 3 Problem 30Complete worksheet and identify the entry types( Entry:S,A,I,D,E)
P03-30 ACC 370 Worksheet for Chapter 3 Problem 30 Complete only part (c). Enter the appropriate code (SAIDE) to the right of the journal entry numbers. (c)INCOME STATEMENTGiantSmallDRCRConsolidated Revenues(1,175,000)(360,000)(1,535,000) Cost of goods sold550,00090,000640,000 Depreciation expense172,000130,000302,000 Equity income of Small(135,000)- 0(135,000) Net income(588,000)(140,000)(728,000) STATEMENT OF RETAINED EARNINGSGiantSmallDRCRConsolidated Retained earnings, 1/1(1,417,000)(620,000)(2,037,000) Net income(588,000)(140,000)(728,000) Dividends paid310,000110,000420,000 Retained earnings, 12/31(1,695,000)(650,000)(2,345,000) BALANCE SHEETGiantSmallDRCRConsolidated Current assets398,000318,000716,000 Investment in Small995,000- 0 995,000 Land440,000165,000605,000 Buildings, net304,000419,000723,000 Equipment, net648,000286,000934,000 Goodwill- 0- 0- 0 Total assets2,785,0001,188,0003,973,000 Liabilities(840,000)(368,000)(1,208,000) Common stock(250,000)(170,000)(420,000) Retained earnings, 12/31(1,695,000)(650,000)(2,345,000) Total liabilities & equity(2,785,000)(1,188,000)- 0- 0(3,973,000) - 0- 0- 0 &F