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please give me a full solution of this question CREDIT 110,350 54600 8000 40,500 650 1200 183,200 Q No.3 AUSTIN SOUND SEREO CENTER, INC. TRIAL
please give me a full solution of this question
CREDIT 110,350 54600 8000 40,500 650 1200 183,200 Q No.3 AUSTIN SOUND SEREO CENTER, INC. TRIAL BALANCE DECEMBER 31,2012 TITLE OF ACCOUNT DEBIT Cash Account receivable Note receivable Interest receivable Inventory-opening Supplies Prepaid insurance Furniture and Fixture Accumulated depreciation-furniture Account payable Note payable (long-term) Capital-Frank Sales revenue Sales discount Sales return and allowance Interest revenue Purchases Purchases discount Purchases return and allowances Freight in Rent expense TOTAL 2400 47,000 12,600 100,000 338,000 1400 2000 600 89,300 3000 1200 5200 8400 504,800 504,800 ADJUSTMENT DATA: 1. Depreciation for the year $ 600 2. Inventory on hand at the end of the year $ 42.000 3. Tax rate is 40% applied INSTRUCTIOS: Work sheet Multiple step Income Statement showing EBIT and EAT Classified Balance SheetStep by Step Solution
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