Selected accounts of Bata Building Supplies, at July 31, 2014, are listed in alphabetical order below. For

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Selected accounts of Bata Building Supplies, at July 31, 2014, are listed in alphabetical order below. For simplicity, all operating expenses are summarized in the accounts Selling Expenses and General Expenses. Bata Building Supplies uses the perpetual inventory system.
Accounts Payable.. $ 31,000 Inventory: July 31, 2014.. Notes Payable, Long-Term. Salaries Payable. $262,500 Accounts Rec

Required
1. Prepare Bata Building Supplies' single-step income statement for the year ended July 31, 2014.
2. Prepare Bata Building Supplies' statement of owner's equity.
3. Prepare Bata Building Supplies' classified balance sheet in report format at July 31, 2014.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For  book-img-for-question

Accounting Volume 1

ISBN: 978-0132690096

9th Canadian edition

Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood

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