Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. The partially completed work sheet shown below also appears in the Workbook. A. Complete the work sheet. The ending inventory figure is $43 700.

image text in transcribed
1. The partially completed work sheet shown below also appears in the Workbook. A. Complete the work sheet. The ending inventory figure is $43 700. B. Prepare an income statement. C. Prepare a balance sheet. D. Journalize the closing entries. Work Sheet Year Ended December 31, 20 INCOME STATEMENT BALANCE SHEET ACCOUNTS CR DR CR DR CR DR CR Bok Trading Company TRIAL BALANCE ADJUSTMENTS DR 50d- 171910 - 3960d- 2500 - 11200 1800- TO 0050 2785d- 520d- 2600 7400- TO 350 oi 550- Bank Accounts Receivable Merchandise Inventory Supplies Prepaid Insurance Equipment Accumulated Deprec-Equip. Accounts Payable GST Payable GST Recoverable PST Payable R. Bok, Capital R. Bok, Drawings Sales Purchases Freight-in Miscellaneous Expense Rent Expense Telephone Expense Utilities Expense Wages Expense 39d- 628- 63702- 1000d- 94300 - 41500 O 300- 950 350 - 0150 - 4800- 1500- 2750 - 19400 - 1071 800 - 071800- 110 1200- 1 0050 Supplies Expense Insurance Expense Depreciation Expense-Equip. 2600

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A Salvation Audit

Authors: Colin Grant

74th Edition

094086634X, 978-0940866348

More Books

Students also viewed these Accounting questions

Question

Describe at least two creative bootstrapping resources.

Answered: 1 week ago

Question

Ensure continued excellence in people management.

Answered: 1 week ago

Question

Enhance the international team by recruiting the best people.

Answered: 1 week ago