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Question 2 (32Marks): LO 3,5 The post adjusted trial balance for Nada Company as of 31 December 2019 is as follows: Accounts Dr Cr BHD
Question 2 (32Marks): LO 3,5 The post adjusted trial balance for Nada Company as of 31 December 2019 is as follows: Accounts Dr Cr BHD BHD Cash 30,000 Accounts receivable 108,000 Notes receivable (due in 90 days) 198,000 Office supplies 14,000 Inventory, 1 January 2018 26,000 Sales return & allowance 200 Sales discount 3,400 Purchases returns 100 Purchases discounts 200 Equipment 122,000 Accumulated depreciation - Equipment 36,000 Building 258,000 Accumulated depreciation - Building 216,000 Land 100,300 Accounts payable 142,000 Wages payable 28,000 Unearned revenue 79,460 Long-term notes payable 188,000 Nada, Capital 109,000 Nada, Withdrawals 38,000 Sales revenue 635,060 Purchases 11,000 Salaries expense 62,000 Wages expense 288,000 Office supplies expense Advertising expense Repairs expense Interest expense Rent payable Depreciation expense Totals 31,000 24,400 30,600 16,200 11,280 84,000 1,445,100 1,445,100 Note: ending inventory BHD13,700 (A)- Prepare a statement of profit or loss (multiple-step format) for the year that ended 31 December 2019. (B)- Prepare the statement of changes in owner's equity for the year ended 31 December 2019
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