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please do all. neat handwriting Good to Go Auto Products distributes automobile parts to service stations and repair shops. The adjusted trial balance data that
please do all. neat handwriting
Good to Go Auto Products distributes automobile parts 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. Accounts Debit Credit Cash 98,200 Petty Cash Fund 400 Notes Receivable, due 20x2 11,000 Accounts Receivable 139,400 Allowance for Doubtful Accounts $ 3,000 Interest Receivable 110 Merchandise Inventory 127,700 Warehouse Supplies 2,500 Office Supplies 620 Prepaid Insurance 3,840 Land 15,200 Building 103,000 Accumulated Depreciation Building 16,300 Warehouse Equipment 19,000 Accumulated Depreciation Warehouse Equipment 9,100 Office Equipment 8,600 Accumulated Depreciation office Equipment 3,500 Notes Payable, due 20x2 14,200 Accounts Payable 56, 100 Interest Payable 320 Notes Payable. Long-Term 13,000 Mortgage Payable 16,000 cenion. Catalan 318,870 Land Building Accumulated Depreciation-Building Warehouse Equipment Accumulated Depreciation-Warehouse Equipment office Equipment Accumulated Depreciation office Equipment Notes Payable, due 20x2 Accounts Payable Interest Payable Notes Payable, Long-Term Mortgage Payable Colin O'Brien, Capital (Jan. 1) Colin O'Brien, Drawing Income Summary Sales Sales Returns and Allowances Interest Income Purchases Freight In Purchases Returns and Allowances Purchases Discounts Warehouse Wages Expense Warehouse Supplies Expense Depreciation Expense-Warehouse Equipment Salaries Expense-Sales Travel Expense Delivery Expense Salaries Expense-office office Supplies Expense Insurance Expense Utilities Expense Telephone Expense Payroll Taxes Expense Building Repairs Expense Property Taxes Expense Uncollectible Accounts Expense Depreciation Expense-Building Depreciation Expense-office Equipment Interest Expense tal 15,200 103,000 16,300 19,000 9,100 8,600 3,500 14,200 56,100 320 13,000 16,000 318,870 69,850 130,600 127,700 1,094,300 7,600 500 455,000 9,000 12,850 8,440 107,800 5,000 2,600 150,900 23,200 36,625 84,200 1,140 9,075 7,200 3,200 30,800 2,900 15,600 2,780 4,800 1,540 3,200 $1,694,180 $1,694,180 Totals $1,694,180 $1,694,180 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. Halpe Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare a statement of owner's equity for the year ended December 31, 20X1. No additional investments were made the year. GOOD TO GO AUTO PRODUCTS Statement of Owner's Equity s 318,870 $ Colin O'Brien, Capital, January 1, 20X1 Net income for year Less: Withdrawals for year Increase in capital Colin O'Brien, Capital, December 31, 20X1 151,930 X 69,850 82,080 400,950 $ 1.11 points Prepare a classified balance sheet as of December 31, 20X1. The mortgage payable extends for more than one y GOOD TO GO AUTO PRODUCTS Balance Sheet Assets Current assets Cash Petty cash fund Notes receivable Accounts receivable S 98,200 400 11,000 > olololololo $ 139,400 3,000 136,400 X 110 Less: Allowance for doubtful accounts Merchandise inventory Interest receivable Prepaid expenses Warehouse supplies Office supplies Prepaid insurance >> $ 127 700 2,500 620 X 3,840 X 134,660 $ 380,770 Total current assets Plant and equipment Land 15.200 Is - Office supplies Prepaid insurance Olo 2.500 620 3.840 134,000 111 D 380 770 Total current assets Pant and equipment Land 15.200 86,700 OOO 103,000 16,300 19.000 .100 1.600 3.500 9.900 5.100 Building Les Accumulated depreciation Warehouse equipment Les Accumulated depreciation Office equipment Les Accumulated depreciation Total plant and egipment Total asset Liability and Owner's Equity Currenties Notes payabile Accounts payable Interest payable 116.900 497.670 OOO $ 14200 56,100 320 $ 70,620 Total current Long-term les Mortgage payabin $ 16,000 - Tophane 116,00 $ 497,670 Total assets Liability and Owner's Equity Current liabilities Notes payable Accounts payable Interest payable OOO $ 14,200 56,100 320 $ 70,620 Total current liabilities Long-term liabilities Mortgage payable $ 16,000 13,000 29,000 C Total long-term liabilities Total liabilities 58,000 $ 128,620 Owner's equity Colin O'Brien, Capital 398,050 Total liabilities and owner's equity 526,670 ed 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? Answer is not complete. Complete this question by entering your answers in the tabs below. Required I Required 2 Required 3 Analyze What percentage of total operating expenses is attributable to warehouse expenses? (Round your answer to 2 decimal places) The percentage bewarehouse expende Step by Step Solution
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