Question
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started