Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer only the owner's capital. thankyou 19. Cash The following items are taken from the records of A-1 Merchandising Items: Amount Items: Amount 1.

image text in transcribed

please answer only the owner's capital. thankyou

19. Cash The following items are taken from the records of A-1 Merchandising Items: Amount Items: Amount 1. Merchandise inventory P50,000 14. Purniture & fixture P6,000 2. Accounts receivable 30,000 15. Accum. Depreciation Store building 5,000 3. Worthiess receivable 500 16. Sales Ocash) 200.000 4. Prepaid rent 8,000 17. Accum. Depreciation - 5. Obsolete merchandise 1,000 Furniture and fixture 500 6. Rent expense 4,000 15. Depreciation expense 3.300 7. Notes receivable 10,000 25.000 # Accrued interest 20. Accounts payable 15.000 receivable 21. Withholding tax payable 4,200 9. Unused supplies 1.200 22 Notes payable (20% 60,000 current) 10. Used supplies H00 19. Accrued interest payable 900 11. Land 100,000 20. Interest income 200 12 Store building 50,000 21. Interest expense 1.200 13. Owner's equity 2 22, Owner's dwing 5.000 Required: 1. Identify or classify the items as to whether they belong to the Assets Liabilities, Owner's Equity, Revenue, or Expenses of the business 2. Fill the amounts of the following SFP clements: 200 Current assets Noncurrent assets: Current liabilities: Noncurrent limbilities: Owner's capital

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Strategies For Small Audit Shops

Authors: David O'Regan

2nd Edition

0894134701, 978-0894134708

More Books

Students also viewed these Accounting questions

Question

Discuss some of the operations decisions made by Starbucks.

Answered: 1 week ago

Question

Does it have correct contact information?

Answered: 1 week ago