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Hi, I need some help with filling out these tables Indianapolis Machinery, Balance Sheet accounts at October 31, 20xo (USD) Item Cash Account receivable Inventories
Hi, I need some help with filling out these tables
Indianapolis Machinery, Balance Sheet accounts at October 31, 20xo (USD) Item Cash Account receivable Inventories Prepaid rernt Accounts payable Other liabilities Owners' equity Total 41 000 90 000 70 000 2 000 27 000 160 000 16 000 203 000203 000 Following is a summary of the transactions that occurred during November: a. Collection of accounts receivable, $79,000 b. Payments of account payable, $19,000. c. Acquisition of inventory on open account, $80,000 d. Merchandise carried in inventory at a cost of $70,000 was sold on open account for $91,000 e. Recognition of rent expense for November, $1,000 f. Wages paid in cash for November, $8,000 g. Cash dividends declared and disbursed to stockholders on November 29, $10,000Step by Step Solution
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