Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Produce the final accounts for a sole trader business a Programming Company from task 1 including profit and loss account, owners equity statement, and balance

Produce the final accounts for a sole trader business a Programming Company from task 1 including profit and loss account, owners equity statement, and balance sheet for the Period ended July 31st. (i need this table filled ASAP to pass I WILL UPVOTE YOU)

a Programming Company

Change in owner equity for the Period ended July. 31, 2021

Account Title

Capital

Add :

Less : Drawings

=

using the trial balance that you have here:

Account

Debit

Credit

Cash

121,985

Capital

150,000

Equipment

30,000

Supplies

3,500

A/P

3,500

Services revenue

15,000

A/R

3,000

Inventory

3,975

Sales. Revenue

10,000

Sales return

1,000

Sales discount

540

Drawings

2,000

Unearned. Revenue

6,000

Rent. Exp

950

Salaries. Exp

2,800

Utilities. Exp

1,250

Prepaid. Insurance

6,000

Cost of sales

7,500

Total

184,500

184,500

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions