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please do it asap and clearly. Below is the adjusted trial balance for Wasabi Ltd for the year ended November 30, 2023: WASABILID Adjusted Trial
please do it asap and clearly.
Below is the adjusted trial balance for Wasabi Ltd for the year ended November 30, 2023: WASABILID Adjusted Trial Balance November 30, 2023 Credit Debit $ 22,000 30.600 25,000 950 1,200 37.000 26,800 Cash Accounts receivable Inventory Supplies Prepaid insurance Long-term investments Equipment Accumulated depreciation equipment Accounts payable Salaries payable Interest payable Income tax payable Deferred revenue Bank loan payable Commion shares Retained eamings Dividends declared Sales Sales discounts Sales retums and allowances Cost of goods sold Salaries expense Rent expense Depreciation expense $ 16,080 34,400 1.210 175 1.100 600 35,000 16,400 30,000 10,000 250.900 4.520 4,600 159.500 33,810 13.850 5,360 Supplies expense Insurance expense Interest expense Advertising expense Income tax expense Totals 700 600 4.175 2,100 3.100 $385,865 $385.865 Additional Information: Allowance for doubtful is estimated at 1.96% (round up to whole $) of Receivables and has not been adjusted yet. 2. Upon reviewing the inventory $400 is damaged and can not be sold. 3. Of the bank loan payable, $5,000 is to be paid in the next year, the remainder is long-term. 4. Common shares of $5,000 were issued during the year. For the year ended November 30, 2023, prepare in good format: a) multiple-step income statement, b) statement of changes in equity and ht c) classified statement of financial positionStep by Step Solution
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