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please do all three requirements Marks The leder of the Albama Manufacturing Company reflects obsolete terminolos. But you find its accounts have been on the
please do all three requirements
Marks The leder of the Albama Manufacturing Company reflects obsolete terminolos. But you find its accounts have been on the whole accurately kept. After the books were closed December 31, 2018, the following accounts were submitted to you for preparing financial statements Taka Cash 25,000 Accounts receivable 37.600 Inventory 90,000 Land 92.000 Buildings 1,97,000 Accumulated Depreciation-Buildinps $4,000 Equipment $3,500 Accumulated Depreciation Equipment 42.400 Notes payable 30.000 Accounts payable 39.000 Capital stock 2.67,800 Dividend 10,000 Sales revente 9.04.100 Sales discounts 6.100 Cost of goods sold 7.09.900 Salaries expenses 69.800 Utilities expense 19,400 Repair expense 5.900 Gas and oil expense 7,200 Insurance expense 3.500 Additional information : 10) Depreciation is Tk. 10,000 on buildings and Tk. 9,000 on equipment nib) Interest of Tk. 5,000 is due and unpaid on notes payable at December 31 (int) Inventory actually on hand Tk. 92,000. (iv) Salaries are 60% selling and 40% administrative. Notes payables are payable as long term liabilities. Required: (a) Prepare multi-step income statement and classified balance sheet for 2016, (b) Journalize necessary adjusting and closing entries. fc) Prepare post closing trial balanceStep by Step Solution
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