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Posted on Sep 12, 2024

Smart Corporation ADJUSTED TRIAL BALANCE Desember 31, 2019 Del Credits 1.437.750 Sales Notes Receivable Investments (short Term Accounts Payah Accumulated Deprecation Equipment 120,000 132.750 76.500

Smart Corporation ADJUSTED TRIAL BALANCE Desember 31, 2019 Del Credits 1.437.750 Sales Notes Receivable Investments (short Term Accounts Payah Accumulated Deprecation Equipment 120,000 132.750 76.500 46.500 12.000 25.000 193.500 Sales Reus Purchase Discounts Cash Accounts Receivable Rent R Retained Tam Sales Payable Notes Paschke Common Stock Sipar Income Tax Expertise Cash Dividends Declared Allowance for Debte Accounts Suples.enland 21.000 360,000 33,000 112.500 450,000 102,000 105.000 9.750 16 500 24.000 75,000 22.500 315.000 75.000 Short termin Freist Saksikan Cemeten er underment of pride income (imento cros) Other Operating Expenses (30% Scling 70% Administrative Land Provision for Bad and Doubt Account Merchandise Inventory 171.000 97.500 51.000 195.000 118.500 156.000 750.000 37.500 Dividend Income Loes on Sale of Investment Interest Revenue 19.500 13.500 18.750 Bonds Paable Gainen Sake of land Accumulated Depreciation Bulting Accumulated Depreciation Land Totals 150.000 1650 30,000 9,750 2.962.500 2.462.500 The company uses the periodic inventory system. A physical count of inventory on December 31 resulted in an inventory amount of $50,000. Instructions 1. Prepare an income statement for the year ending December 31, 2019. Assume that twenty thousand shares of common stock were outstanding the entire year. (12 Marks) a. using the Multi-Step form. b. using the Single-Step form. 2. Prepare a retained earnings statement for the year ending December 31, 2019. (4 Marks) 3. Prepare a Statement of Financial Position as at December 31, 2019. (12 Marks) a. Report Form b. Account Form 4. Calculate Earnings Per Share for the year ending December 31, 2019. (2 Marks) Smart Corporation ADJUSTED TRIAL BALANCE Desember 31, 2019 Del Credits 1.437.750 Sales Notes Receivable Investments (short Term Accounts Payah Accumulated Deprecation Equipment 120,000 132.750 76.500 46.500 12.000 25.000 193.500 Sales Reus Purchase Discounts Cash Accounts Receivable Rent R Retained Tam Sales Payable Notes Paschke Common Stock Sipar Income Tax Expertise Cash Dividends Declared Allowance for Debte Accounts Suples.enland 21.000 360,000 33,000 112.500 450,000 102,000 105.000 9.750 16 500 24.000 75,000 22.500 315.000 75.000 Short termin Freist Saksikan Cemeten er underment of pride income (imento cros) Other Operating Expenses (30% Scling 70% Administrative Land Provision for Bad and Doubt Account Merchandise Inventory 171.000 97.500 51.000 195.000 118.500 156.000 750.000 37.500 Dividend Income Loes on Sale of Investment Interest Revenue 19.500 13.500 18.750 Bonds Paable Gainen Sake of land Accumulated Depreciation Bulting Accumulated Depreciation Land Totals 150.000 1650 30,000 9,750 2.962.500 2.462.500 The company uses the periodic inventory system. A physical count of inventory on December 31 resulted in an inventory amount of $50,000. Instructions 1. Prepare an income statement for the year ending December 31, 2019. Assume that twenty thousand shares of common stock were outstanding the entire year. (12 Marks) a. using the Multi-Step form. b. using the Single-Step form. 2. Prepare a retained earnings statement for the year ending December 31, 2019. (4 Marks) 3. Prepare a Statement of Financial Position as at December 31, 2019. (12 Marks) a. Report Form b. Account Form 4. Calculate Earnings Per Share for the year ending December 31, 2019. (2 Marks)