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neat weiting please double check answers Good to Go Auto Products distributes automobile ports to service stations and repair shops. The adjusted trial balance data
neat weiting please double check answers
Good to Go Auto Products distributes automobile ports to service stations and repair shops. The adjusted trial balance data that follows is from the firm's worksheet for the year ended December 31, 20x1 Account Cash Debit Credit Detty cash Tund 98,200 400 Notes Receivable, due 20x2 counts Receivable 11,000 Kilowance for Doubtful Accounts 139,400 Interest Receivable 5 3,000 Merchandise Inventory 110 Warehouse Supplies 127,700 2,500 office Supplies 620 Prepaid Tawurance 3.040 Land 15,200 mulding 103,000 Accumulated Depreciation-Building 16,300 Warehouse Equipment Accumulated Depreciation Warehouse Equipment 19,000 9,100 ce quipment 3.600 Accumulated Depreciation office Equipment 3,500 Notes Payable, due 20x2 14,200 56,100 Account Payable Interest Payable Notes Payable, Long-Term 320 13,000 Mortgage Tayable 16,000 Colin o'r Len, Capital (Jan. 1) 318,670 Colin O'Brien, Drawing 69,850 Income Summary 130.600 127, 700 1,094.300 Sales Returns and allowances 7.600 Interest Income Purchases 455,000 Treight in 9,000 Purchases Returns and Allowances 12,850 Purchases Discounts 8.440 Warehouse Mages Expense 107,800 Warehouse Supplies Expense SA Expense-Warehouse Equipment 5.000 2,600 Expense-Bales 150,900 Travel Expense 23,200 Delivery Expense 36,625 Salaries Expense orice 84,200 office Supplies Expense 1.140 Insurance Expenne 9.075 Llities Expense 7,200 Telephone Expense 3,200 Payroll Taxes Expense 30.800 2.900 building Repairs Expense Property Taxes Expense 15.000 Uncollectible Accounts Expense 2,780 4.800 Depreciation Expense-Building Depreciation Expense-ottice Equipment Interest Expense 3200 Totale $1,694,180 61,694.180 509 14,200 1,140 9.075 1.200 1200 otrice Supplies Expense Insurance expense Utilities Expense Telephone Expense Payroll Tes pense Building Bepales Expense Property Taxes Expense Uncollectible Account Expense Depreciation Expenselding Depreciation Expense office Equipment Interest Expense Total 30.800 15,600 2,100 4.600 3109 BAX680,100 $1,696,180 Required: 1. Prepare a classified income statement for the year ended December 31, 20X1. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. 2. Prepare a statement of owner's equity for the year ended December 31, 20x1 No additional investments were made during the year 3. Prepare a classified balance sheet as of December 31, 20X1. The mortgage payable extends for more than one year, Analyze: What percentage of total operating expenses is attributable to warehouse expenses? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare a classified income statement for the year ended December 31, 20X1. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses GOOD TO GO AUTO PRODUCTS Income and 6 Complete this question by enter your answers in the tabe below. 1 Prepare a fie comment for the year ended December 31, 20X1. The expert corrent whose expenseling expen and administrative 0000 TO GO AUTO PRODUCTS 10 Cost of Merchande 1201 1 Dared Al Pacheco PS Tut deliver o 5 Mehndi De 20 Cost Gron 1 Warehouse Required 1 Required 2 Required 3 Analyze Prepare sment of owner's equity for the year ended December 31, 20X1. No additional investments were made during the year GOOD TO GO AUTO PRODUCTS Statement of Owner's Equity Colin O'Brien, Capital, January 1, 20X1 Net income for year Cos: Withdrawals for year increase in capital Colin O'Brien, Capital, December 31, 20X1 $ 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Requi Analyze Prepare a dassified balance sheet as of December 31, 20X1. The mortgage payable extends for more than one year. GOOD TO GO AUTO PRODUCTS Balance Sheet $ 98,200 Assets Current assets Cash Petty cash fund Notes receivable Accounts receivable Loss: Alowance for doubtlul accounts + Merchandise Inventory Interest receivable Prepaid expenses Warehouse supplies Ofice supplies GOOD TO GO AUTO PRODUCTS Balance Sheet $ 98,200 Assets Current assets Cash Petty cash fund Notes receivable Accounts receivable ess: Allowance for doubtful accounts Merchandise inventory Interest receivable Prepaid expenses Warehouse supplies Office supplies Prepaid insurance $ 98,200 Total current assets Plant and equipment Land Building Less. Accumulated depreciation Warehouse equipment Less: Accumulated depreciation Office equipment Less: Accumulated depreciation Total plant and egipment Total assets Liability and Owner's Equity Current liabilities Notes payable Accounts payable Interest payablo 0 $ 98,200 $ Total current liabilities Long-term liabilities Mortgage payable Umce supplies Prepaid insurance 0 $ 98,200 Total current assets Plant and equipment Land Building Accumulated depreciation nouse equipment Less: Accumulated depreciation Office equipment Less: Accumulated depreciation Total plant and eqipment Total assets Liability and Owner's Equity Current liabilities Notes payable Accounts payable Interest payable 0 $ 98,200 $ 0 Total current liabilities Long-term liabilities Mortgage payable 0 $ 0 Total long-term liabilities Total liabilities Owner's equity Colin O'Brien, Capital Total liabilities and owner's equity $ 0 Required: 1. Prepare a classified income statement for the year ended December 31, 20X1. The expense accounts represent warehouse expenses, selling expenses eneral and administrative expenses 2. Prepare a statement of own uity for the year ended December 31, 20X1. No additional investments were made during the 3. Prepare a classified balance sheet as of December 31, 20X1. The mortgage payable extends for more than one year a Analyze: What percentage of total operating expenses is attributable to warehouse expenses? Complete this question by entering your answers in the tabs below. Required 1 Required Required Analyse What percentage of total operating expenses is attributable to warehouse expenses? (Round your answer to 2 decimal places The Dragobeto expenses % Step by Step Solution
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