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PLEASE ANSWER ALL STEPS The Trial Balance of Pacific Limited contained the following accounts (alphabetically) at December 31,2019 , the end of the company's financial
PLEASE ANSWER ALL STEPS
The Trial Balance of Pacific Limited contained the following accounts (alphabetically) at December 31,2019 , the end of the company's financial year. Additional Data: 1. On December 31, 2019, supplies on hand totalled $2500. 2. Buildings are being depreciated \( \mathfrak{\hdashline} 10 \% \) under straight line method. Equipment is being depreciated 20% under declining balance method. 3. The company is under 30% tax bracket. 4. The company has declared $0.50 dividend per share. 5. Physical check on December 31, 2019 reveals that inventory actually on hand is $223000. 6. The interest on the mortgage loan has not yet been paid. Questions Prepare the (a) Multiple Step Income Statement, (b) Stockholders' Equity Statement, and (c) Classified Balance Sheet as at December 31, 2019Step by Step Solution
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