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can you please help me fill out the remaining titles. each one that has a checkmark has to have a number. 2018 PORTER INC. Comparative

can you please help me fill out the remaining titles. each one that has a checkmark has to have a number. image text in transcribed
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2018 PORTER INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 Assets Cash $ 71,100 Accounts receivable, net 70,000 Inventory 63,000 Prepaid expenses 6,300 Total current assets 210,400 Equipment 205,000 Accum. depreciation-Equipment (51,000) Total assets $364,400 Liabilities and Equity Accounts payable $ 26,000 Wages payable 8,000 Income taxes payable 3,600 Total current liabilities 37,600 Notes payable (long term) 33,000 Total liabilities 70,600 Equity Common stock, $5 par value 240,000 Retained earnings 53,800 Total liabilities and equity $364,400 $ 6,100 55,000 88,000 7,900 157,000 190,000 (17,000). $330,000 $ 32,000 20,000 4,000 56,000 --165,000 121,000 170,000 39,000 $330,000 PORTER INC. Income Statement For Year Ended June 30, 2019 Sales $1,102,000 Cost of goods sold 674,000 Gross profit 428,000 Operating expenses Depreciation expense $ 93,000 Other expenses 109,000 Total operating expenses 202,000 226,000 Other gains (losses) Prey 1 of 1 MacBook Air Saved Check my work mode : This shows what is correct or Incorrect for the work you have completed so far. It de Additional Information a. A $33,000 note payable is retired at its $33,000 carrying (book) value in exchange for cash. b. The only changes affecting retained earnings are net income and cash dividends paid. c. New equipment is acquired for $91,000 cash. d. Received cash for the sale of equipment that had cost $76,000, yielding a $8,200 gain. e. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement f. All purchases and sales of inventory are on credit. Answer is not complete General Requirement General Journal Indirect Ledger Trial Balance Direct Method Method Using the income statement, the comparative balance sheet, and the additional information given above, reconstruct the entries for the summarized activity of the current fiscal year. Upon completion, the trial balance tab should agree the June 30, 2019 balances No Account Title Date Jun 30 Credit 1 Cash Accounts receivable.net Sales Debit 1,087,000 15,000 1.102.000 OOO OOO 2 Jun 30 674,000 6,000 Cost of goods sold Accounts payable Inventory Cash 25,000 655,000 3 Jun 30 93.000 Depreciation expense Accumulated depreciation - Equipment 17.000 Prey 1 of 1 Next MacBook Air 20 DD :9 FS ET @ A 23 3 $ 4 % 5 8 7 2 02 8 9 W E R T Y U (1) WhatsApp X A MasterChef Australia X t Watch MasterChef AX Thanks for your ordex Blac ducation.com/ext/map/index.html?_con=con&external_browser=0&launchurl=https%253A%252F%252Fmde.blackboard.c Ledger Saved Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It do 4 Jun 30 Other expenses Wages payable Prepaid expenses Cash 109,000 12.000 1,600 119,400 5 Jun 30 Cash Accumulated depreciation - Equipment Equipment Gain on sale of equipment 25,200 59.000 OOO 15,000 6.900 6 Jun 30 Income taxes expense Income taxes payable Cash 71,690 400 72,090 ( 7 Jun 30 Notes payable (long-term) Cash 33,000 8 Jun 30 Equipment Cash 91,000 9 Jun 30 Cash Common stock, $5 pr value 70,000 10 Jun 30 Sales Gain on sale of equipment Income summary 1,102,000 8.200 Prey 1 of 1 RE Next > MacBook Air 80 DI 888 FE ::: DE 5 FS 7 Jun 30 Notes payable (long-term) Cash 33,000 8 Jun 30 Equipment Cash 91.000 lo 9 Jun 30 70,000 Cash Common stock, $5 par value 10 Jun 30 Sales Gain on sale of equipment Income summary 1,102,000 8,200 OO 11 Jun 30 947,690 Income summary Cost of goods sold Depreciation expense Other expenses Income taxes expense 12 Jun 30 162,510 Income summary Retained earnings 13 Jun 30 147.710 Retained earnings Cash Prey 1 of 1 Next > MacBook Air 2018 PORTER INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 Assets Cash $ 71,100 Accounts receivable, net 70,000 Inventory 63,000 Prepaid expenses 6,300 Total current assets 210,400 Equipment 205,000 Accum. depreciation-Equipment (51,000) Total assets $364,400 Liabilities and Equity Accounts payable $ 26,000 Wages payable 8,000 Income taxes payable 3,600 Total current liabilities 37,600 Notes payable (long term) 33,000 Total liabilities 70,600 Equity Common stock, $5 par value 240,000 Retained earnings 53,800 Total liabilities and equity $364,400 $ 6,100 55,000 88,000 7,900 157,000 190,000 (17,000). $330,000 $ 32,000 20,000 4,000 56,000 --165,000 121,000 170,000 39,000 $330,000 PORTER INC. Income Statement For Year Ended June 30, 2019 Sales $1,102,000 Cost of goods sold 674,000 Gross profit 428,000 Operating expenses Depreciation expense $ 93,000 Other expenses 109,000 Total operating expenses 202,000 226,000 Other gains (losses) Prey 1 of 1 MacBook Air Saved Check my work mode : This shows what is correct or Incorrect for the work you have completed so far. It de Additional Information a. A $33,000 note payable is retired at its $33,000 carrying (book) value in exchange for cash. b. The only changes affecting retained earnings are net income and cash dividends paid. c. New equipment is acquired for $91,000 cash. d. Received cash for the sale of equipment that had cost $76,000, yielding a $8,200 gain. e. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement f. All purchases and sales of inventory are on credit. Answer is not complete General Requirement General Journal Indirect Ledger Trial Balance Direct Method Method Using the income statement, the comparative balance sheet, and the additional information given above, reconstruct the entries for the summarized activity of the current fiscal year. Upon completion, the trial balance tab should agree the June 30, 2019 balances No Account Title Date Jun 30 Credit 1 Cash Accounts receivable.net Sales Debit 1,087,000 15,000 1.102.000 OOO OOO 2 Jun 30 674,000 6,000 Cost of goods sold Accounts payable Inventory Cash 25,000 655,000 3 Jun 30 93.000 Depreciation expense Accumulated depreciation - Equipment 17.000 Prey 1 of 1 Next MacBook Air 20 DD :9 FS ET @ A 23 3 $ 4 % 5 8 7 2 02 8 9 W E R T Y U (1) WhatsApp X A MasterChef Australia X t Watch MasterChef AX Thanks for your ordex Blac ducation.com/ext/map/index.html?_con=con&external_browser=0&launchurl=https%253A%252F%252Fmde.blackboard.c Ledger Saved Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It do 4 Jun 30 Other expenses Wages payable Prepaid expenses Cash 109,000 12.000 1,600 119,400 5 Jun 30 Cash Accumulated depreciation - Equipment Equipment Gain on sale of equipment 25,200 59.000 OOO 15,000 6.900 6 Jun 30 Income taxes expense Income taxes payable Cash 71,690 400 72,090 ( 7 Jun 30 Notes payable (long-term) Cash 33,000 8 Jun 30 Equipment Cash 91,000 9 Jun 30 Cash Common stock, $5 pr value 70,000 10 Jun 30 Sales Gain on sale of equipment Income summary 1,102,000 8.200 Prey 1 of 1 RE Next > MacBook Air 80 DI 888 FE ::: DE 5 FS 7 Jun 30 Notes payable (long-term) Cash 33,000 8 Jun 30 Equipment Cash 91.000 lo 9 Jun 30 70,000 Cash Common stock, $5 par value 10 Jun 30 Sales Gain on sale of equipment Income summary 1,102,000 8,200 OO 11 Jun 30 947,690 Income summary Cost of goods sold Depreciation expense Other expenses Income taxes expense 12 Jun 30 162,510 Income summary Retained earnings 13 Jun 30 147.710 Retained earnings Cash Prey 1 of 1 Next > MacBook Air

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