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Prepare Balance Sheet and Statement of Owner's Equity for Adam Investment Cooperation for the year ended on July 31st, 2022 Cash 40,000 Electricity expense
Prepare Balance Sheet and Statement of Owner's Equity for Adam Investment Cooperation for the year ended on July 31st, 2022 Cash 40,000 Electricity expense 8,300 Sales 180,500 Prepaid electricity 11,700 Purchased 90,500 Interest expense 5,500 Fright IN 7,500 Depreciation expenses - Vehicle 5,000 Salary payable 8,400 Accumulated depreciation-vehicle 20,000 Maintenance expense 15,000 Vehicle 60,000 Rent expense 21,800 Land 80,000 Rent revenue 10,500 Prepaid rent 6,300 Unearned rent 8,500 Building 50,000 Owner's investment 150,000 Accumulated depreciation - Building 1500 Owner's drawing 62,000 Customer refund payable 6000 Retain earning 22,000 Marketing expenses 12,500 Note payable (Due for payment 2030) 40,000 Office supplies 10,500 Estimated inventory return 6,100 Merchandise Inventory on July 31st, 2022 30,600 Account Receivable 29700 Account Payable Proportion of note payable due in this year 5000 Net income for the year 48500 100,000 Note: the balance sheet is not balancing
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