Question
The Trial Balance TBA Limited contained the following accounts (alphabetically) at December 31, 2020, the end of company's fiscal year. Accounts ....... Balances ($).
The Trial Balance TBA Limited contained the following accounts (alphabetically) at December 31, 2020, the end of company's fiscal year. Accounts ....... Balances ($). III Accounts Balances ($) .... Accumulated Depreciation-Building......... 127000.. III .... Loss on Sale of Property. Accumulated Depreciation-Equipment......... 35000.. III. Merchandise Inventory Additional Paid in Capital-Common Stock.. 229000.. ||| .... Mortgage Loan.... .... 7310 227000 104000 Auditors Fee..... .204000 Rent Revenue .... 53000 Buildings.... 401000. III .... Retained Earnings. 51400 Cash ..... 199660. III .... Salaries and Wages Expense.... 104000 Common Stock ($2 each).... 119000.. Cost of Goods Sold .... 1094000. Equipment ... Interest Expense.... 201000.... 20000...... ... Sales........... III.... Sales Returns and Allowances ...... 9030 . Supplies ..... 1755000 6400 Additional Data: 1. On December 31, 2020, Supplies on hand totaled $2400 2. Buildings are being depreciated @10% under straight line method, Equipment is being depreciated @20% under declining balance method. 3. The company is under 20% tax bracket. 4. The company has declared $0.30000000000000004 dividend per share. 5. Physical check on December 31, 2020 reveals that inventory actually on hand is $225000. Prepare the followings: (a) Multistep income statement; (b) Stockholders Equity Statement (c) Classified Balance Sheet as at December 31, 2020
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