Answered step by step
Verified Expert Solution
Question
1 Approved Answer
X Q4_Module 2 FABM... Assessment Directions: Given below is the adjusted trial balance of Mapagkakatiwalaan Services. Prepare the following financial statements on a separate sheet
X Q4_Module 2 FABM... Assessment Directions: Given below is the adjusted trial balance of Mapagkakatiwalaan Services. Prepare the following financial statements on a separate sheet of paper. 1. Statement of Comprehensive Income 2. Statement of Changes in Equity 3. Statement of Financial Position Mapagkakatiwalaan Services Adjusted Trial Balance December 31, 2019 Debit 101 Cash 102 Accounts Receivable 103 Supplies 201 Accounts Payable 202 Notes Payable 301 Mapagkakatiwalaan, Capital 302 Mapagkakatiwalaan, Drawings 401 Service Revenue 501 Salaries Expense 502 Utilities Expense 503 Supplies Expense 504 Other Expenses Total Credit P 110,000 5,000 10,000 20,000 9,000 2,000 3,000 500 P159,500 PT1 o P 25,000 10,000 74,500 50,000 P159,500
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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