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Comprehensive Problem in the picture. Thanks for helping!! Activity no. 2 Comprehensive Problem The following were taken from the books of ABM Company: PPE 850,000

Comprehensive Problem in the picture. Thanks for helping!!

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Activity no. 2 Comprehensive Problem The following were taken from the books of ABM Company: PPE 850,000 Accounts receivable 1. Based on the set of accounts, determine 156,000 the assets. Long-term payable 600,000 2. Compute for total liabilities and equity. Notes payable . 220,000 3. Identify all the accounts with normal debit Cash 177,000 balance and normal credit balance. Accumulated depreciation 200,000 4. Prepare a trial balance. Owner's capital ?????? 5. Prepare a Statement of Financial Position Unearned income 115,345 given the following information Notes receivable 344,000 a. Notes payable is due in 2 years Prepaid expense 156,700 b. Notes receivable is collectible in 9 Accrued expense 137,890 months Inventory 257,840 c. Prepaid expenses will be used during Intangible assets 124,500 the year. odule 1: The Statement of Financial Position

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