Accounting BECA Convenience Store LTD. Post-Closing Trial Balance December 31, 2020 Debit Credit Cash $20573 Accounts receivable 125188 Allowance for doubtful accounts $4998 Inventory 38901 Estimated inventory returns 1071 Prepaid insurance 13090 Equipment 202300 Accumulated depreciation 88655 Accounts payable 47600 Employee income tax payable 4760 CPP payable 8568 EI payable 4856 Refund liability 1850 Dividends payable 2618 Notes payable (due 2023) 142,800 Common shares 71400 Retained earnings 39,032 sales 119000 cost of goods sold 34748 salaries expense 47600 employee benefit expense 3507 bad debt expense 1428 rent expense 10710 insurance expense 1190 deprecation expense 1975 gain on disposal 2380 interest expense 476 income tax expense 4760 Prepare a statement of financial position at January 31, 2021
Accounting BECA Convenience Store LTD. Post-Closing Trial Balance December 31, 2020 Debit Credit Cash $20573 Accounts receivable 125188 Allowance for doubtful accounts $4998 Inventory 38901 Estimated inventory returns 1071 Prepaid insurance 13090 Equipment 202300 Accumulated depreciation 88655 Accounts payable 47600 Employee income tax payable 4760 CPP payable 8568 EI payable 4856 Refund liability 1850 Dividends payable 2618 Notes payable (due 2023) 142,800 Common shares 71400 Retained earnings 39,032 sales 119000 cost of goods sold 34748 salaries expense 47600 employee benefit expense 3507 bad debt expense 1428 rent expense 10710 insurance expense 1190 deprecation expense 1975 gain on disposal 2380 interest expense 476 income tax expense 4760 Prepare a statement of financial position at January 31, 2021
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Accounting
| BECA Convenience Store LTD. Post-Closing December 31, 2020 |
||||
| Debit | Credit | |||
| Cash | $20573 | |||
| 125188 | ||||
| Allowance for doubtful accounts | $4998 | |||
| Inventory | 38901 | |||
| Estimated inventory returns | 1071 | |||
| Prepaid insurance | 13090 | |||
| Equipment | 202300 | |||
| 88655 | ||||
| Accounts payable | 47600 | |||
| Employee income tax payable | 4760 | |||
| CPP payable | 8568 | |||
| EI payable | 4856 | |||
| Refund liability | 1850 | |||
| Dividends payable | 2618 | |||
| Notes payable (due 2023) | 142,800 | |||
| Common shares | 71400 | |||
|
39,032 |
||||
|
sales |
119000 |
cost of goods sold 34748
salaries expense 47600
employee benefit expense 3507
rent expense 10710
insurance expense 1190
deprecation expense 1975
gain on disposal 2380
interest expense 476
income tax expense 4760
Prepare a statement of financial position at January 31, 2021
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