ng for Merchandising OperationsP5-4A The unadjusted trial balance of World Enterprises for the year ending December 31, 2002,is shown below:yCashAccounts ReceivableMerchandise InventoryPrepaid InsuranceStore EquipmentAccumulated Amortization Store EquipmentAccounts PayableSales Taxes PayableR. Roger, CapitalSalesSales Returns and AllowancesCost of Goods SoldexpensesWORLD ENTERPRISESTrial BalanceDecember 31, 2002Salaries ExpenseRent ExpenseTotalsOther data:1. Insurance expired, $800.2. Amortization expense, $3,000.3. Rent payable, $500. (choInstructionsDebit$ 14,00030,60027,5001,80042,0004,600177,00031,6006,100$335,200Credit$ 9,00034,4003,00050,300238,500$335.200(a) Prepare a multiple-step income statement, statement of owner's equity, and balance sheet.(b) Prepare the closing entries.5035 5

Income statement is the financial statement which is prepared in order to depict the position of…

P5-4A The unadjusted trial balance of World Enterprises for the year ending December 31, 2002 is shown below: Ripe Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Store Equipment Accumulated Amortization-Store Equipment Accounts Payable Sales Taxes Payable R. Roger, Capital Sales Sales Returns and Allowances Cost of Goods Sold puses ·Pexper WORLD ENTERPRISES Trial Balance December 31, 2002 Salaries Expense Rent Expense Totals Other data: 1. Insurance expired, $800. 2. Amortization expense, $3,000. 3. Rent payable, $500. echa Instructions Debit $ 14,000 30,600 27,500 1,800 42,000 4,600 177,000 31,600 6,100 $335,200 Credit $ 9,000 34,400 3,000 50,300 238,500 $335.200 (a) Prepare a multiple-step income statement, statement of owner's equity, and balance sheet. (b) Prepare the closing entries. 55 2 entoes

P5-4A The unadjusted trial balance of World Enterprises for the year ending December 31, 2002 is shown below: Ripe Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Store Equipment Accumulated Amortization-Store Equipment Accounts Payable Sales Taxes Payable R. Roger, Capital Sales Sales Returns and Allowances Cost of Goods Sold puses ·Pexper WORLD ENTERPRISES Trial Balance December 31, 2002 Salaries Expense Rent Expense Totals Other data: 1. Insurance expired, $800. 2. Amortization expense, $3,000. 3. Rent payable, $500. echa Instructions Debit $ 14,000 30,600 27,500 1,800 42,000 4,600 177,000 31,600 6,100 $335,200 Credit $ 9,000 34,400 3,000 50,300 238,500 $335.200 (a) Prepare a multiple-step income statement, statement of owner's equity, and balance sheet. (b) Prepare the closing entries. 55 2 entoes

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter4: Accounting For Retail Operations

Section: Chapter Questions

Problem 4.4MBA

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