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ABM Company POST - CLOSING TRIAL BALANCE Dec. 31, 2016 Accounts Cash in Bank Debit Credit 123,153 10,000 P Petty Cash Fund Account Receivable Allowance for Bad debts 659,340 P 15,000 Notes Receivable Merchandise Inventory Prepaid Expenses Furniture Acc. Dep. – Furniture Transportation Equipment 132,200 774,307 3,200 900,000 45,000 1,400,000

ABM Company POST - CLOSING TRIAL BALANCE Dec. 31, 2016 Accounts Cash in Bank Debit Credit 123,153 10,000 P Petty Cash Fund Account Receivable Allowance for Bad debts 659,340 P 15,000 Notes Receivable Merchandise Inventory Prepaid Expenses Furniture Acc. Dep. – Furniture Transportation Equipment 132,200 774,307 3,200 900,000 45,000 1,400,000

FINANCIAL ACCOUNTING
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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ABM Company POST - CLOSING TRIAL BALANCE Dec. 31, 2016 Accounts Debit Credit Cash in Bank Petty Cash Fund Account Receivable 123,153 10,000 659,340 Allowance for Bad debts P 15,000 Notes Receivable Merchandise Inventory Prepaid Expenses Furniture 132,200 774,307 3,200 900,000 Acc. Dep. – Furniture Transportation Equipment 45,000 1,400,000
Transcribed Image Text:ABM Company POST - CLOSING TRIAL BALANCE Dec. 31, 2016 Accounts Debit Credit Cash in Bank Petty Cash Fund Account Receivable 123,153 10,000 659,340 Allowance for Bad debts P 15,000 Notes Receivable Merchandise Inventory Prepaid Expenses Furniture 132,200 774,307 3,200 900,000 Acc. Dep. – Furniture Transportation Equipment 45,000 1,400,000
Acc. Dep. – Transpo Equipment Accounts Payable Notes Payable-Non Current ssS, Philhealth, HDMF Payable Withholding Taxes Payable Accrued Expenses Pinky Ramos, Capital 140,000 960,300 234,000 4,000 2,600 1,300 2,600,000 ТОTAL P 4,002,200 P 4,002,200 Requirement 1: Compute the accounting equation for the above post-closing trial balance of Pinklane Company as of Dec. 31, 2016. Assets Liabilities Equity Requirement 2: Prepare Statement of Financial Position as of Dec. 31, 2016. A. Account Form B. Report Form
Transcribed Image Text:Acc. Dep. – Transpo Equipment Accounts Payable Notes Payable-Non Current ssS, Philhealth, HDMF Payable Withholding Taxes Payable Accrued Expenses Pinky Ramos, Capital 140,000 960,300 234,000 4,000 2,600 1,300 2,600,000 ТОTAL P 4,002,200 P 4,002,200 Requirement 1: Compute the accounting equation for the above post-closing trial balance of Pinklane Company as of Dec. 31, 2016. Assets Liabilities Equity Requirement 2: Prepare Statement of Financial Position as of Dec. 31, 2016. A. Account Form B. Report Form
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