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of 33 marks, 50 minutes At December 31, 2020 Gumble Corporation had the following balances. (a) Prepare a classified statement of financial position statement of
of 33 marks, 50 minutes At December 31, 2020 Gumble Corporation had the following balances. (a) Prepare a classified statement of financial position statement of income and statement of retained earnings - all in good form. (b) Prepare the dosing journal entries $25,300 $10,000 $8,400 $29,500 Accounts Payable Accounts Receivable Accumulated depreciation - equipment Bank loan payable (5,000 to be paid with 1 year) Cash Common shares Depreciation expense Dividends declared Equipment Land $35.950 $43,750 $8,400 $525 582,000 512 300 Common shares Depreciation expense Dividends declared Equipment Land Income tax expense Interest expense Marketing expense Mortgage payable Prepaid expense - flight Rent expense Retained earnings, Jan 1, 2020 Salaries expense Sales revenue Supplies Unearned revenue $43,750 $8,400 $525 $82,000 $12,300 20% $1,750 $6,125 $6,000 $1,500 $21,000 $28,000 $14,350 $56,875 $7,875 $5,000
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