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Using problem 5-2 from page 140, create an income statement, statement of owner equity, and a balance sheet. its just 5-2 doing what i added
Using problem 5-2 from page 140, create an income statement, statement of owner equity, and a balance sheet.
its just 5-2 doing what i added in text
PROBLEMS 5-1 Using the answer from Problem 4-9 in Chapter 4, prepare an accrual-adjusted income statement. 5-2 - Use the unadjusted trial balance below and prepare a cash-basis income state- ment. Make a list of the differences between this income statement and the accrual-adjusted income statement in Problem 5-1. Credits 10,000.00 UNADJUSTED TRIAL BALANCE Accounts Debits 1000 Cash $17.600.00 1600 Machinery and Equipment 235,000.00 1650 Office Equipment and Furniture 2,000.00 1800 Land, Buildings and Improvements 650,000.00 2310 Notes Payable Due within One Year 2400 Real Notes Payable-Non-Current 3100 Retained Capital 3130 Other Capital Contributions/Gifts/Inheritances 4000 Cash Crop Sales 6100 Wage Expense 12,000.00 6110 Payroll Tax Expense con 1,668.00 6520 Herbicides, Pesticides 5,000.00 250,000.00 80,868.00 480,000.00 120.000.000 5,200.00 7,200.00 6700 Insurance 6710 Real Estate and Personal Property Taxes 8200 Gains (Losses) on Sales of Farm Capital Assets 9100 Income Tax Expense Totals 1,600.00 3,600.00 $940,868.00 $940,868.00 5-3 . Using the trial balance from Problem 4-9 in Chapter 4 and the answer from Problem 5-1 in this chapter, prepare an accrual-adjusted statement of owner equity. Then, using the unadjusted trial balance and the answer from Problem 5-2, prepare a cash-basis statement of owner equity. Make a list of the differences between the two statements Step by Step Solution
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