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Give the debit and credit solution with the statement of financial position. PROBLEM 7: STATEMENT OF FINANCIAL POSIT The trial balance of Entity A on
Give the debit and credit solution with the statement of financial position.
PROBLEM 7: STATEMENT OF FINANCIAL POSIT The trial balance of Entity A on December 31, 2G ollowing information: Debits 120,00 2,000,00 4,000,00 Cash on hand Cash in bank Accounts receivable Allowance for doubtful accounts Advances to employees Advances to suppliers Inventories Prepaid insurance Land Building Accumulated depreciation - Bldg. 80,0 60,0 2,400,0 1,600,C 4,400,0 6,800,0 TENT OF FINANCIAL POSITION Entity A on December 31, 201 1hows the Debits Credits 120,000 2,000,000 4,000,000 600,000 ul accounts es 5 s 80,000 60,000 2,400,000 1,600,000 4,400,000 6,800,000 iation - Bldg. 4,000,000 Accounts payable Accrued liabilities Income tax payable Loans payable (due in 2013 Discount on loan payable Interest payable (due in 2012 Owner's Capital Totals 1,740,000 23,200,000 -ayable bilities payable able (due in 2013 n loan payable yable (due in 2012 apital 1,440,000 160,000 1,000,000 6,000,000 1,740,000 680,000 9,320,000 23,200,000 23,200,000Step by Step Solution
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