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Questions 01

Questions 02

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Data page 1 The ledger of Chacha Vatija Unity Limited contained the following account balances at December 31, 2019, the end of company's fiscal year. Cash ..... ...... ..... ... ..... ...... ..... ...... ...... Accounts Balances ($ 6000 Accounts Receivable 22600 Inventory 36800 Supplies ...... 1160 Prepaid Rent 9590 Machinery 23800 Accumulated Depreciation-Machinery 10000 Equipment ...... 62000 Accumulated Depreciation-Equipment 7550 Land 75000 Accounts Payable 9770 15% Debenture ... 32000 Common Stock ($ 2.5 par value) 40000 Additional Paid in Capital-Common Stock ... 42000 Retained Earnings ..... 59200 Sales ....... 545400 Sales Returns and Allowances 7800 Sales Discount 3400 Salaries Expense 75200 Cost of Goods Sold ...... 385300 Loss from employee strike 4580 Wages Expense 7780 Rent Expense ...... 12410 Interest Expense 3400 Advertising Expense 10000 Rent Revenue ...... 3500 Other Administrative Expense 2600 ...... ... ...... ...... data page 2 Additional Data: 1. The accountant has forgot to record the issue of 1,000 common share @ $4.5 each on December 21, 2019. 2. 10% cash Dividend has been declared on the common stock. 3. The company is under 30% tax bracket. 4. Machinery is being depreciated @20% under straight line method, Equipment is being depreciated @30% under reducing balance method. 5. Supplies actually on hand is $ 200. 6. Physical check on December 31, 2019 reveals that inventory actually on hand is $ 35,200. questions page 01 From the above information, prepare the followings: (a) Multistep income statement for the year ending December 31, 2019; (b) Stockholder_s Equity Statement as at December 31, 2019, and (c) Classified Balance Sheet as at December 31, 2019. questions page 2 Gross Profit Depreciation Expense Machinery Depreciation Expense-Equipment Total Operating Expenses Common Stock Ending Balance Retained Earnings Ending Balance Total Current Asset NORDNE Total Non-Current Assets Dividend Payable Total Current Liabilities