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FLEET .. ... Problem #1 - [12 marks] 12.0 points possible (graded results hidden The Trial Balance TBA Limited contained the following accounts (alphabetically) at
FLEET .. ... Problem #1 - [12 marks] 12.0 points possible (graded results hidden The Trial Balance TBA Limited contained the following accounts (alphabetically) at December 31, 2020, the end of company's fiscal year, Accounts Balances ($) Accounts .... Balances (5) Accumulated Depreciation-Building... 130000 Loss on Sale of Property 7640 Accumulated Depreciation-Equipment....... 36000.... III Merchandise Inventory 231000 Additional Paid in Capital-Common Stock.. 237000 II... Mortgage Loan ..................... 112000 Auditors Fee Rent Revenue 52000 Buildings... 406000 Retained Earnings..... 52800 Cash 209280 III Salaries and Wages Expense 105000 Common Stock ($2 each)... 119000 Sales 1753000 Cost of Goods Sold 1084000 Sales Returns and Allowances 8980 Equipment..... 201000... III Supplies .... ............................ 6200 Interest Expense 23700.... 209000... 11 .. 118 ********* ... Additional Data: 1. On December 31, 2020, Supplies on hand totaled $2500 2. Buildings are being depreciated @10 % under straight line method Equipment is being depreciated @20% under declining balance method. 3. The company is under 20% tax bracket 4. The company has declared 50.30000000000000004 dividend per share. 5. Physical check on December 31, 2020 reveals that inventory actually on hand is $219000. Prepare the followings: (a) Multistep income statement; (b) Stockholders Equity Statement (c) Classified Balance Sheet as at December 31, 2020 and (d) Please note that you have part (d) right below the table
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