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Activity 2. Presented below are accounts of Mary Odette for year ended December 31, 2020. Prepare the statement of financial position. Prepare also the supporting
Activity 2. Presented below are accounts of Mary Odette for year ended December 31, 2020. Prepare the statement of financial position. Prepare also the supporting notes to FS. (Use report form of SFP) Cash on Hand 10,000 Equipment 45,000 Petty Cash Fund 5,000 Accumulated Depn-Equip 3,000 Cash in Bank 100,000 Furniture and Fixture 30,000 Accounts Receivable 38,600 Accumulated Dep'n-F&F 1,000 Allowance for Bad Debts 1,600 Accounts Payable 22,000 Accrued Income 15,000 Taxes Payable 8,000 Merchandise Inventory 50,000 Accrued Expenses 3,000 Prepaid Rent 30,000 Mortgage Payable 180,000 Supplies 5,000 Loan Payable 70,000
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