Solve case problem

Listed below in alphabetical order, are accounts from the accounting records of Comtois Distributors at September 30, 2017. Comtois Distributors use the perpetual inventory system. The operating expenses are summarized in the General Expense and Selling Expense accounts for simplicity and accounting expediency.

Requirements to be submitted:

1. Prepare the following business’s financial statements for the year ended September 30, 2017.

a) Single-step Income Statement

b) Multiple-step Income Statement

2. Prepare the Statement of Owner’s Equity for the year ended September 30, 2017

3. Prepare Comtois Distributors’ classified Balance Sheet in report format at September 30, 2017

Submission Requirements:

A. DueforBlackboardonlinesubmissionbyGroupLeaderonorbeforeThursday,November22,2018, 3:00 p.m.

B. Format: Typewritten, using MS Word only (copy and paste MS Excel file onto the main MS Word solution document). Do not use pdf format or any static file format that prohibits marking annotations.

C. Name the Group Assignment file to be submitted as follows: “Principles of Accounting (ACCT 1036 – 002) Group #__ Assignment Solutions”. Only include on first page of solution document the names of participating members. A group member who did not participate will not be awarded the final grade on the group assignment.

D. Incomplete and out of format assignment submissions will be returned unmarked. Please be guided accordingly.