Question
The following beginning balances are given for ATB Company at 01.01.2020. Account Name Amount (TL) Cash 83.600 Banks 19.000 Checks 43.000 Accounts Receivable 56.000 Notes
The following beginning balances are given for ATB Company at 01.01.2020.
Account Name | Amount (TL) |
Cash | 83.600 |
Banks | 19.000 |
Checks | 43.000 |
Accounts Receivable | 56.000 |
Notes Receivable | 67.400 |
Allowance for Uncollectible Accounts | 16.000 |
Inventory | 750.000 |
Prepaid Expenses - Rent | 50.400 |
Accounts Payable | 135.000 |
Notes Payable | 152.600 |
Dividends | 26.000 |
Tax payable | 71.800 |
Bank Loan | 228.000 |
Bonds Issued | 230.000 |
Buildings | 675.000 |
Furniture and fixture | 250.000 |
Accumulated Depreciation - Buildings | 30.000 |
Capital Stock | 537.000 |
Unearned Revenue | 110.000 |
Retained Earnings | 510.000 |
- Prepare the adjusted trial balance at 301.2020.
- Journalize the closing entries and make the necessary updates in the T-accounts.
- Prepare the post-closing trial balance.
- Prepare the statement of financial position at 31.01.2020. Use IFRS terminology and mandatory line items.
- Prepare the income statement for the period 01.01.2020 - 31.01.2020. Use IFRS terminology and mandatory line items.
- Prepare the cash-flow statement for the period 01.01.2020 - 31.01.2020, according to direct method.
- Prepare the cash-flow statement for the period 01.01.2020 - 31.01.2020, according to indirect method
Which adjustment and transaction is missing? Because i really need to solve this this is important. Please help me to solve this took this question from teacher and all wuestion should be correct. Thanks
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