A) B) "Flower Moon" Company's accounting records have been destroyed by fire. However, all the balances have been reconstructed at the end of the year and listed in random order (not differentiated as to debits and credits), as follows: Accounts Payable Accounts Receivable Wages Payable Paid in Captital Capital Stock Prepaid Insurance Building and Equipment Accumulated depreciation Cash Note Payable Cost of Goods Sold Inventory Depreciation Expense Miscellaneous Expense Sales Selling and Administrative Expense Commission revenue Commission Deposits payable Wage Expense Retained Earnings Insurance Expense What is Net Income? What is TOTAL owners equity? 10 000 12 000 2 000 14 000 1 000 6 000 50 000 10 000 5 000 6 000 99 000 12 000 2 000 4 000 137 000 17 000 20 000 5 000 14 000 ? 3 000

A) B) "Flower Moon" Company's accounting records have been destroyed by fire. However, all the balances have been reconstructed at the end of the year and listed in random order (not differentiated as to debits and credits), as follows: Accounts Payable Accounts Receivable Wages Payable Paid in Captital Capital Stock Prepaid Insurance Building and Equipment Accumulated depreciation Cash Note Payable Cost of Goods Sold Inventory Depreciation Expense Miscellaneous Expense Sales Selling and Administrative Expense Commission revenue Commission Deposits payable Wage Expense Retained Earnings Insurance Expense What is Net Income? What is TOTAL owners equity? 10 000 12 000 2 000 14 000 1 000 6 000 50 000 10 000 5 000 6 000 99 000 12 000 2 000 4 000 137 000 17 000 20 000 5 000 14 000 ? 3 000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A)
B)
"Flower Moon" Company's accounting records have been destroyed by fire.
However, all the balances have been reconstructed at the end of the year and
listed in random order (not differentiated as to debits and credits), as follows:
Accounts Payable
Accounts Receivable
Wages Payable
Paid in Captital
Capital Stock
Prepaid Insurance
Building and Equipment
Accumulated depreciation
Cash
Note Payable
Cost of Goods Sold
Inventory
Depreciation Expense
Miscellaneous Expense
Sales
Selling and Administrative Expense
Commission revenue
Commission Deposits payable
Wage Expense
Retained Earnings
Insurance Expense
What is Net Income?
What is TOTAL owners equity?
10 000
12 000
2 000
14 000
1 000
6 000
50
000
10 000
5 000
6 000
99 000
12 000
2 000
4 000
137 000
17 000
20 000
5 000
14 000
?
3 000

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