All I need done is part c) Prepare a statement of changes in equity for the year 2018, thanks!
The account balances as at December 31, 2017 are as follows: Cash $463.200; Accounts receivable $5,000; Merchandise inventory $108.000; Prepaid rent $3,000; Equipment $55,000; Accumulated depreciation $8,750; Land $40,000; Dividends payable $3.00, Unearned revenue $12,000%; Long-term note payable $200,000; Com- mon shares $440,000; and Retained earnings $10,450. The following transactions and events occurred in 2018. Jan. 15 Paid the dividend declared in December Mar. 1 Purchased inventory for $50,000 cash from ordinary Apr. 1 Billed customers $300,000 for sales. The cost of the inventory was $140,000 for these sales. June 30 Collected $140,000 cash from customers for the sales made on April 1. July 1 Paid rent in advance of $6,300 on a 12-month office lease. Sept. 1 Made cash sales of $15,000. The cost of the inventory was $7,000 for these sales. Sept. 15 All of the service work associated with the unearned revenue was completed. Nov. 30 All remaining accounts receivable were collected except for $10,000. Dec. 30 Paid cash of $90,000 for various operating expenses in 2018. Dec. 31 Paid the interest on the bank loan. Dec. 31 Recorded depreciation for 2018 for the equipment. Dec. 31 Recorded rent expense for 2018. Dec. 31 The replacement cost (market value) of the inventory on December 31, 2018 was $3,000. Dec. 31 Paid cash of $11,000 for income taxes. Required (a) Using the transactions-based approach (tabular analysis), record the above transactions and events for 2018. Determine the end- ing balances for all accounts that are included in the tabular analysis. (b) Prepare an income statement for the year 2018. (c) Prepare a statement of changes in equity for the year 2013. (d) Prepare a balance sheet as at (e) Chupier . The account balances as at December 31, 2017 are as follows: Cash $463,200; $108,000; Prepaid rent $3,000; Equipment $55,000; Accumulated Accounts receivable $5,000; Merchandise inventory The account balances as at December 31, 2017 are as follows: Cash $463.200; Accounts receivable $5,000; Merchandise inventory $108.000; Prepaid rent $3,000; Equipment $55,000; Accumulated depreciation $8,750; Land $40,000; Dividends payable $3.00, Unearned revenue $12,000%; Long-term note payable $200,000; Com- mon shares $440,000; and Retained earnings $10,450. The following transactions and events occurred in 2018. Jan. 15 Paid the dividend declared in December Mar. 1 Purchased inventory for $50,000 cash from ordinary Apr. 1 Billed customers $300,000 for sales. The cost of the inventory was $140,000 for these sales. June 30 Collected $140,000 cash from customers for the sales made on April 1. July 1 Paid rent in advance of $6,300 on a 12-month office lease. Sept. 1 Made cash sales of $15,000. The cost of the inventory was $7,000 for these sales. Sept. 15 All of the service work associated with the unearned revenue was completed. Nov. 30 All remaining accounts receivable were collected except for $10,000. Dec. 30 Paid cash of $90,000 for various operating expenses in 2018. Dec. 31 Paid the interest on the bank loan. Dec. 31 Recorded depreciation for 2018 for the equipment. Dec. 31 Recorded rent expense for 2018. Dec. 31 The replacement cost (market value) of the inventory on December 31, 2018 was $3,000. Dec. 31 Paid cash of $11,000 for income taxes. Required (a) Using the transactions-based approach (tabular analysis), record the above transactions and events for 2018. Determine the end- ing balances for all accounts that are included in the tabular analysis. (b) Prepare an income statement for the year 2018. (c) Prepare a statement of changes in equity for the year 2013. (d) Prepare a balance sheet as at (e) Chupier . The account balances as at December 31, 2017 are as follows: Cash $463,200; $108,000; Prepaid rent $3,000; Equipment $55,000; Accumulated Accounts receivable $5,000; Merchandise inventory
