Question
ACG2021 Please make sure to post step by step and all details on response. Class Managerial Accounting. Question: Instructions: Based on the trial balance and
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ACG2021 Please make sure to post step by step and all details on response. Class Managerial Accounting. Question: Instructions: Based on the trial balance and the additional information, create a Balance Sheet and Income Statement for the period..
Chimichanga Inc. | |||
| Trial Balance | |||
| December 31, 2018 | |||
| Debit | Credit | ||
| Cash | 7,000 | ||
| A/R | 3,000 | ||
| Office Supplies (Asset) | 3,000 | ||
| Accounts Payable | 1,000 | ||
| Common Stock | 10,000 | ||
| Sales Revenue | 7,000 | ||
| Rent Expense | 600 | ||
| Salaries Expense | 2,500 | ||
| Supplies Expense | 1,200 | ||
| Utilities Expense | 700 |
| |
| 18,000 | 18,000 | ||
| Additional Info | |||
| Chimichanga Inc. bought a new food processing machine for $5,000 on January 1st 2018, with a useful life of 5 years, and a residual value of $1,000. This information is not yet accounted for in the Trial Balance above. | |||
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Internal Auditing In Plain English A Simple Guide To Super Effective ISO Audits
Authors: Craig Cochran
1st Edition
1932828168, 978-1932828160
