Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can you solve part G and H please ? the profit margin is 20 % 5,000 5.000 ccounts Payable S 2000 7,000 S 7.000 4,000
can you solve part G and H please ?
the profit margin is 20 %
5,000 5.000 ccounts Payable S 2000 7,000 S 7.000 4,000 Accounts Recevable 5 35,000 Accounts Payable 2.500 $L200 s 1200 4,000 7,000 57,000 Accouns Recevable 12,000 Note Payable S12,000 s 2300 1800 10,000 2,000 S 2.000 %2,000 5 1,500 Accounts Payable 5 1500 s 1,300 $100 Prepaid insurance 200 5000-2000 expense S 4,000 Debit Credit Debit Credi Depreciation expense 46,800146,800 348,300,00 Reqf Depreciation expense Total Expenses Reqt Capital balance, Mar Less Drawings Capital balance, Mar 31 Khaled Balance Sheet As of Mar 31 Req f Req c Unadjusted BS Adjusted BS Assets Current Assets Cash 45,050 45,050 Accounts Receivable 3,800 3,800 1,500 1,500 Inventory Supplies 5,000 2,000 Prepaid Insurance 1,100 1,200 Total Current Assets 56,550 53,450 Fixed Assets Vehicle 25,000 25,000 Land 35,000 35,000 Furniture 10,000 10,000 Office Equipment 5,000 5,000 Accumulated Depreciation-Equipment 1,300 Total Fixed Assets 75,000 73,700 Total Assets 131,550 127,150 Liabilities & Stockholders Equit Current Liabilities 4,000 4,000 Accounts Payable Note Payable 22,000 22,000 Unearned Service Revenue 4,000 Total Current Liabilities 30,000 26,000 Owners Equit Capital 101,550 101,150 Total Liabilities&Stockholders Equity 131,550 127,150 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started