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Prepare statement of profit and loss and statement of financial position for company A. DR CR Prepaid expense 1000 account receivable 2200 office supplies 1800
Prepare statement of profit and loss and statement of financial position for company A.
DR CR Prepaid expense 1000 account receivable 2200 office supplies 1800 office equipment 15000 cash 5400 accumulated depreciation-office equipment 4000 account payable 900 interest payable 100 salaries payable 1000 loan 2000 service revenue accrual 5000 share capital 12000 retained earning 4400 dividends paid 2000 service revenue 3000 office supplies expense 600 depreciation expense 2500 rent expense 1900Step by Step Solution
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