Question
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
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 | 31,000 |
|
Advertising expense | 24,400 |
|
Repairs expense | 30,600 |
|
Interest expense | 16,200 |
|
Rent payable |
| 11,280 |
Depreciation expense | 84,000 |
|
Totals | 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 owners equity for the year ended 31 December 2019.
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