A. Read and analyze the adjusted trial balance of AVETOR Hardware for the year ending 31 December 2019. (Attach your answer on this page) P130,115| Freight-in 30,000 Purchase Returns and Allowances 98,750 | Purchase Discount 4,835| Sales Salaries P30,875 2,585 20,000 115,600 18,000 12,260 1,200 Cash Notes Receivable Accounts Receivable Allowance for Impairment LOS Merchandise Inventory, 1/1 Prepaid Insurance Unused Supplies Accounts Payable Notes Payable 785,345 | Advertising Expense 6,000 Freight-out 3,750 | Interest Income 371,535 Miscellaneous Selling Expenses 50,000 Office Salaries 527,030 Rent Expense 48,000 | Insurance Expense 1,950,345 Supplies Expense 4,020 Impairment Loss 20,800 Miscellaneous General Expenses 1,320,500| Interest Expense 120,000 Office Equipment 12,000 Depreciation – Office Equipment 36,000 Accumulated Depreciation Office Equipment 17,650 65,900 48,000 9,000 8,650 2,515 1,800 6,000 60,000 6,000 18,000 Avetor, Capital Avetor, Drawing Sales Sales Returns Sales Discount Purchases Store Equipment Depreciation - Store Equipment Accumulated Depreciation - Store Equipment Note: Ending Inventory of merchandise is P715,250 B. Prepare the Statement of Comprehensive Income (SCI) C. Prepare the Statement of Changes in Equity (SCE) D. Prepare the Statement of Financial Position (SFP)
A. Read and analyze the adjusted trial balance of AVETOR Hardware for the year ending 31 December 2019. (Attach your answer on this page) P130,115| Freight-in 30,000 Purchase Returns and Allowances 98,750 | Purchase Discount 4,835| Sales Salaries P30,875 2,585 20,000 115,600 18,000 12,260 1,200 Cash Notes Receivable Accounts Receivable Allowance for Impairment LOS Merchandise Inventory, 1/1 Prepaid Insurance Unused Supplies Accounts Payable Notes Payable 785,345 | Advertising Expense 6,000 Freight-out 3,750 | Interest Income 371,535 Miscellaneous Selling Expenses 50,000 Office Salaries 527,030 Rent Expense 48,000 | Insurance Expense 1,950,345 Supplies Expense 4,020 Impairment Loss 20,800 Miscellaneous General Expenses 1,320,500| Interest Expense 120,000 Office Equipment 12,000 Depreciation – Office Equipment 36,000 Accumulated Depreciation Office Equipment 17,650 65,900 48,000 9,000 8,650 2,515 1,800 6,000 60,000 6,000 18,000 Avetor, Capital Avetor, Drawing Sales Sales Returns Sales Discount Purchases Store Equipment Depreciation - Store Equipment Accumulated Depreciation - Store Equipment Note: Ending Inventory of merchandise is P715,250 B. Prepare the Statement of Comprehensive Income (SCI) C. Prepare the Statement of Changes in Equity (SCE) D. Prepare the Statement of Financial Position (SFP)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:A. Read and analyze the adjusted trial balance of AVETOR Hardware for the year ending 31
December 2019. (Attach your answer on this page)
Cash
P130,115| Freight-in
30,000 Purchase Returns and Allowances
P30,875
2,585
20,000
115,600
18,000
12,260
1,200
17,650
65,900
48,000
9,000
Notes Receivable
Accounts Receivable
Allowance for Impairment LoS
Merchandise Inventory, 1/1
Prepaid Insurance
Unused Supplies
Accounts Payable
Notes Payable
Avetor, Capital
Avetor, Drawing
98,750 Purchase Discount
4,835| Sales Salaries
785,345 | Advertising Expense
6,000 | Freight-out
3,750 Interest Income
371,535 | Miscellaneous Selling Expenses
50,000 | Office Salaries
527,030 | Rent Expense
48,000 | Insurance Expense
1,950,345 | Supplies Expense
4,020 | Impairment Loss
20,800 | Miscellaneous General Expenses
1,320,500| Interest Expense
120,000 | Office Equipment
12,000 Depreciation – Office Equipment
36,000 Accumulated Depreciation -
8,650
2,515
Sales
Sales Returns
Sales Discount
1,800
Purchases
Store Equipment
Depreciation – Store Equipment
Accumulated Depreciation -
6,000
60,000
6,000
18,000
Store Equipment
Office Equipment
Note: Ending Inventory of merchandise is P715,250
B. Prepare the Statement of Comprehensive Income (SCI)
C. Prepare the Statement of Changes in Equity (SCE)
D. Prepare the Statement of Financial Position (SFP)
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