Instruction: Prepare the following 1. Income Statement 2. Statement of Changes in Equity 3. Statement of Financial Position using the following accounts of Warlito Blanche Graphic Arts: Accounts Payable Accounts Receivable Accumulated Building Accumulated Equipment Advertising Expense Art Revenues 122,500 Land 219.000 Miscellaneous Expense 60,000 Mortgage Payable 120,00 24.60 Depreciation- 395,00 Depreciation- 60,000 Notes Payable 21300 105,000 Office Supplies 1,437,500 Blanche, Capital (1/1/2020) 17,20 50,50
Instruction: Prepare the following 1. Income Statement 2. Statement of Changes in Equity 3. Statement of Financial Position using the following accounts of Warlito Blanche Graphic Arts: Accounts Payable Accounts Receivable Accumulated Building Accumulated Equipment Advertising Expense Art Revenues 122,500 Land 219.000 Miscellaneous Expense 60,000 Mortgage Payable 120,00 24.60 Depreciation- 395,00 Depreciation- 60,000 Notes Payable 21300 105,000 Office Supplies 1,437,500 Blanche, Capital (1/1/2020) 17,20 50,50
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter2: Analyzing Transactions: The Accounting Equation
Section: Chapter Questions
Problem 5SEA: FINANCIAL STATEMENT ACCOUNTS Label each of the following accounts as an asset (A), liability (L),...
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