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Business
Accounting
Account Title Debit Credit Cash 130,115 30,000 Note Receivable Accounts Receivable Allowance for doubtful debts Merchandise Inventory Prepaid Insurance Office Supplies Store Equipments Accumulated Dep-Eqpt. Office Equipment Accumulated Dep-Office Eqpt. Grace Zamora Drawing 125,750 4,835 785,345 6,000 3,750 120,000 36,000 60,000 18,000 48,000 Account Payable Note Payable VAT Payable Grace Zamora Capital Sales Sales Return & Allowance Sales Discount Purchases Purchase Return & Allowance Purchase Discounts 335,535 50,000 10,550 586,230 1,950,345 16,750 24,820 1,320,500 12,585 20,350 Transportation In Sales salary expense Advertisement expense 31,475 115,600 18,000 Transportation Out Depreciation Expense, Eqpt Misc. Selling Expense Office Salary Expense Rent Expense Insurance Expense Supply Expense Таx Expense Depreciation Expense, Office Eqpt Bad Debt expense 12,260 12,000 6,875 65,900 48,000 9,000 8,650 6,750 6,000 2,515 Misc. General Expense Interest Income 4,975 600 Interest Expense 6,000 Total 3,025,030 3,025,030

Account Title Debit Credit Cash 130,115 30,000 Note Receivable Accounts Receivable Allowance for doubtful debts Merchandise Inventory Prepaid Insurance Office Supplies Store Equipments Accumulated Dep-Eqpt. Office Equipment Accumulated Dep-Office Eqpt. Grace Zamora Drawing 125,750 4,835 785,345 6,000 3,750 120,000 36,000 60,000 18,000 48,000 Account Payable Note Payable VAT Payable Grace Zamora Capital Sales Sales Return & Allowance Sales Discount Purchases Purchase Return & Allowance Purchase Discounts 335,535 50,000 10,550 586,230 1,950,345 16,750 24,820 1,320,500 12,585 20,350 Transportation In Sales salary expense Advertisement expense 31,475 115,600 18,000 Transportation Out Depreciation Expense, Eqpt Misc. Selling Expense Office Salary Expense Rent Expense Insurance Expense Supply Expense Таx Expense Depreciation Expense, Office Eqpt Bad Debt expense 12,260 12,000 6,875 65,900 48,000 9,000 8,650 6,750 6,000 2,515 Misc. General Expense Interest Income 4,975 600 Interest Expense 6,000 Total 3,025,030 3,025,030

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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Please help me prepare income statements (account form), balance sheet and statement of changes in owners equity. 

Account Title Debit Credit Cash 130,115 Note Receivable Accounts Receivable 30,000 125,750 Allowance for doubtful debts Merchandise Inventory Prepaid Insurance Office Supplies Store Equipments Accumulated Dep-Eqpt. Office Equipment Accumulated Dep-Office Eqpt. Grace Zamora Drawing Account Payable Note Payable VAT Payable Grace Zamora Capital 4,835 785,345 6,000 3,750 120,000 36,000 60,000 18,000 48,000 335,535 50,000 10,550 586,230 Sales Sales Return & Allowance Sales Discount Purchases 1,950,345 16,750 24,820 1,320,500 Purchase Retun & Allowance Purchase Discounts 12,585 20,350 Transportation In Sales salary expense Advertisement expense 31,475 115,600 18,000 Transportation Out Depreciation Expense, Eqpt Misc. Selling Expense Office Salary Expense Rent Expense Insurance Expense Supply Expense |Tаx Expense Depreciation Expense, Office Eqpt Bad Debt expense 12,260 12,000 6,875 65,900 48,000 9,000 8,650 6,750 6,000 2,515 Misc. General Expense Interest Income Interest Expense Total 4,975 600 6,000 3,025,030 3,025,030
Transcribed Image Text:Account Title Debit Credit Cash 130,115 Note Receivable Accounts Receivable 30,000 125,750 Allowance for doubtful debts Merchandise Inventory Prepaid Insurance Office Supplies Store Equipments Accumulated Dep-Eqpt. Office Equipment Accumulated Dep-Office Eqpt. Grace Zamora Drawing Account Payable Note Payable VAT Payable Grace Zamora Capital 4,835 785,345 6,000 3,750 120,000 36,000 60,000 18,000 48,000 335,535 50,000 10,550 586,230 Sales Sales Return & Allowance Sales Discount Purchases 1,950,345 16,750 24,820 1,320,500 Purchase Retun & Allowance Purchase Discounts 12,585 20,350 Transportation In Sales salary expense Advertisement expense 31,475 115,600 18,000 Transportation Out Depreciation Expense, Eqpt Misc. Selling Expense Office Salary Expense Rent Expense Insurance Expense Supply Expense |Tаx Expense Depreciation Expense, Office Eqpt Bad Debt expense 12,260 12,000 6,875 65,900 48,000 9,000 8,650 6,750 6,000 2,515 Misc. General Expense Interest Income Interest Expense Total 4,975 600 6,000 3,025,030 3,025,030
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