PLEASE HELP MES SOLVE THESE MERCHANDISING TRANSACTIONS
It is a one straight problem of Inventory.
Question 14 Take me to the text Not checked Marked out of Gecko Company prepared the following adjusted trial balance at its year-end of January 31, 2019. The company is owned by Wayne Gecko. 60.00 Gecko Company Y Flag Trial Balance question January 31, 2019 Account Titles DR CR Cash $14,500 Accounts Receivable $6,000 Merchandise Inventory $7,000 Prepaid Expense $2,300 Store Equipment $40,40 Accumulated Depreciation-Equipment $2,200 Accounts Payable $6.500 Unearned Revenue $6,000 Bank Loan $18,000 Gecko, Capital $34 840 Gecko, Withdrawals $1,200 Sales Revenue $51,960 Gain on Sale of Equipment $4 300 Cost of Goods Sold $18,400 Advertising Expense $1,600 Depreciation Expense-Equipment $2.20 Interest Expense $800 Office Salaries Expense $4,600 Rent Expense-Retail Space $11,000 Rent Expense-Office Space $5,500 Sales Salaries Expense $8,300 Total $123,800 $123,800 Notes: Assume the balance of owner's equity is the opening balance. The bank loan is payable over 10 years in equal annual installments. Required a) Prepare a multi-step income statement. Do not enter dollar signs or commas in the input boxes. Enter the accounts into the appropriate statements in the order they are presented on the trial balance. Do not use negative signs. Gecko Company Income Statement For the Year Ended January 31, 2019 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Selling ExpensesRequired a) Prepare a multi-step income statement. Do not enter dollar signs or commas in the input boxes. Enter the accounts into the appropriate statements in the order they are presented on the trial balance. Do not use negative signs. Gecko Company Income Statement For the Year Ended January 31, 2019 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses Total Selling Expenses Administrative Expenses Total Administrative Expenses Total Operating Expenses Income from Operations Other Income and Expenses Jet Income b) Prepare a statement of owner's equity. Gecko Company Statement of Owner's Equity For the Year Ended January 31, 2019 Gecko, Capital (Beginning] Add: Net Income Less: Gecko, Withdrawalsb) Prepare a statement of owner's equity. Gecko Company Statement of Owner's Equity For the Year Ended January 31, 2019 Gecko, Capital (Beginning) Add: Net Income Less: Gecko, Withdrawals Subtotal Gecko, Capital, January 31, 2019 :) Prepare a classified balance sheet. Gecko Company Balance Sheet As at January 31, 2019 Assets Current Asset Total Current Assets Property, Plant, and Equipmen Total Property, Plant, and Equipment Total Assets Liabilities Current Liabilities Total Current Liabilities Long-Term Liabilities Total Long-Term Liabilities Total LiLess: Gecko, Withdrawals Subtotal jecko, Capital, January 31, 2019 :) Prepare a classified balance sheet. Gecko Company Balance Sheet As at January 31, 2019 Assets Current Assets Total Current Assets Property, Plant, and Equipment Total Property, Plant, and Equipment Total Assets Liabilities Current Liabilities Total Current Liabilities Long-Term Liabilities S Total Long-Term Liabilities Total Liabilities Owner's Equity Total Owner's Equity ies and Owner's Equity