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The Trial Balance TBA Limited contained the following accounts (alphabetically) at December 31, 2020, the end of company's fiscal year. Accounts .................................... Balances ($).... |||
The Trial Balance TBA Limited contained the following accounts (alphabetically) at December 31, 2020, the end of company's fiscal year. Accounts .................................... Balances ($).... ||| . ... Accounts .......................... Balances ($) Accumulated Depreciation-Building......... 125000 III -... Loss on Sale of Property 7360 Accumulated Depreciation Equipment....... 37000 III. ... Merchandise Inventory ................ 229000 Additional Paid in Capital-Common Stock.. 233000...- ||| . ... Mortgage Loan ......................... 104000 Auditors Fee ............................................. 208000.... III. ... Rent Revenue ................................ 51000 Buildings..... ........................................... 410000. II Retained Earnings ...................... 52600 Cash ............................................................ 165880 - III -... Salaries and Wages Expense ........ 108000 Common Stock ($2 each).......................... 102000 III -... Sales ............................................... 1756000 Cost of Goods Sold 1095000.... | .... Sales Returns and Allowances Equipment............................................... 201000. - ||| .... Supplies 6200 Interest Expense .............. 21100.... III. ... ...... 9060 Additional Data: 1. On December 31, 2020, Supplies on hand totaled $2500 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 $0.30000000000000004 dividend per share. 5. Physical check on December 31, 2020 reveals that inventory actually on hand is $219000. Prepare the followings: (a) Multistep income statement; (b) Stockholder_s Equity Statement () Classified Balance Sheet as at December 31, 2020
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