need help with required A stmt stkholder equity. please make it clear so i can fill my chart in easily. also need help with required A bal sheet. please make chart like mine so i can fill in easily.
Problem 7-26A Comprehensive accounting cycle problem (uses percent of revenue allowance method) LO 7-1,7-3, 7-5, 7-6 The following trial balance was prepared for Tlo, Etc., Inc. on December 31 Yarate the closing entries were posted Title Debit Credit Cash $175,000 Account Receive 130.000 Allowance for Doubt AG $ 24,500 Inventory 451.000 Accounts Payable 100,000 Como Stock 515,000 Metained lamin 116.00 Totals 5764.000 5764.000 Tile, Etc. had the following transactions in Year 2 1. Purchased merchandise on account for $645,000 2. Sold merchandise that cost $485,000 for $1020,000 on account 3. Sold for $310.000 cash merchandise that had cost $186,000 4. Sold merchandise for $255,000 to credit card customers. The merchandise had cost $122.000. The credit card company charges 3 percent fee 5. Collected $750,000 cash from accounts receivable 6. Paid $675.000 cash on accounts payable 7. Paid $158.000 cash for selling and administrative expenses 8. Collected cash for the full amount due from the credit card company see tem 4 9. Looned $63,000 to J. Paris The note had an 8 percent interest rate and a one year term to maturity 10. Wrote off $8,800 of accounts as uncollectible 11. Made the following adjusting entries (a) Recorded uncollectible accounts exponse estimated at 1 percent of sales on account. () Recorded seven months of accrued interest on the notest December 31, Year 2 (see item 9). Required a. Prepare general journal entries for these transactions, post the entries to T-accounts and prepare an income statement a statement of changes in stockholders' equity, a balance sheet and a statement of cash flows for Year 2 b. Compute the net reliable value of accounts receivable at December 31 Year 2 c. If Tile, Etc. used the direct write-off method, what amount of uncollectible accounts expense would it report on the income statement? rences Complete this question by entering your answers in the tabs below. Required A Stmt of Cash Required B Flows Required Required A Required A Required AT Required A General Required A accounts Stmt Inc Stmt Journal Stkholder Eal Bal Sheet Prepare a statement of changes in stockholders' equity. TILE, ETC., INC Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 2 $ 0 $ 0 Total stockholders' equity (Required A Inc Smt Required A Bal Sheet > Complete this question by entering your answers in the tabs below. Required Required A Required A Required AT Required A General Required A Required A accounts Inc Stmt Stmt Bal Sheet Stmt of Cash Required B Journal Stkholder Ea Flows Prepare a balance sheet. (Amounts to be deducted should be indicated with a minus sign.) TILE, ETC., INC Balance Sheet As of December 31, Year 2 Assets $ Total assets Liabilities 0 Total Liabilities Stockholders' Equity 0 0 Total stockholders' equity Total liabilities and stockholders' equity Required A Stmt of Cash Flows >