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Question for Assignment #4 10.0 points possible (graded, results hidden) The Trial Balance TBA Limited contained the following accounts (alphabetically) at December 31, 2020,
Question for Assignment #4 10.0 points possible (graded, results hidden) The Trial Balance TBA Limited contained the following accounts (alphabetically) at December 31, 2020, the end of company's fiscal year. Accounts ............. III ..... Balances ($) ... ||| .... Accounts ............ Accumulated Depreciation-Building 125000. Accumulated Depreciation-Equipment....... 37000.. Additional Paid in Capital-Common Stock.. 225000 Auditors Fee.... Buildings.... Cash Common Stock ($2 each).... Cost of Goods Sold .... Equipment ...... Interest Expense.... Additional Data: ... 202000. .... . Loss on Sale of Property. Merchandise Inventory. Balances ($) _ 7490 ............... 232000 III... Mortgage Loan.... 103000 Rent Revenue.... 51000 51000 .... Salaries and Wages Expense 105000 Sales......... 1752000 .405000.... ||| .... Retained Earnings..... 171380. 108000 III 1085000 .... .208000.... .... .... 20800.... . . Sales Returns and Allowances....... 8930 Supplies..... 6400 1. On December 31, 2020, Supplies on hand totaled $2300 2. Buildings are being depreciated @ 10% under straight line method, Equipment is being depreciated @20% under declining balance method. 3. The company is under 40% tax bracket. 4. The company has declared $0.5 dividend per share. 5. Physical check on December 31, 2020 reveals that inventory actually on hand is $216000. Prepare the followings: (a) Multistep income statement; (b) Stockholder_s Equity Statement (c) Classified Balance Sheet as at December 31, 2020 OK
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