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Accounts obtained from the books of accounts LMN Irading Company on December 31, 20X1 will enable you to make a multistep income statement. Dr 155,000 600,000 Cr Cash in Bank Accounts Receivable Allowance for Bad Debts Merchandise Inventory, Jan. 1 Equipment Accumulated Depreciation - Equipment Accounts Payable Abel Caro, Capital Abel Caro, Drawings P 45,000 150,000 300,000 110,000 180,000 650,000 50.000

Accounts obtained from the books of accounts LMN Irading Company on December 31, 20X1 will enable you to make a multistep income statement. Dr 155,000 600,000 Cr Cash in Bank Accounts Receivable Allowance for Bad Debts Merchandise Inventory, Jan. 1 Equipment Accumulated Depreciation - Equipment Accounts Payable Abel Caro, Capital Abel Caro, Drawings P 45,000 150,000 300,000 110,000 180,000 650,000 50.000

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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Accounts obtained from the books of accounts LMN Trading Company on December 31, 20X1 will enable you to make a multistep income statement. Dr Cr Cash in Bank P 155,000 600,000 Accounts Receivable Allowance for Bad Debts Merchandise Inventory, Jan. 1 Equipment Accumulated Depreciation P 45,000 150,000 300,000 Equipment Accounts Payable Abel Caro, Capital Abel Caro, Drawings 110,000 180,000 650,000 50,000
Transcribed Image Text:Accounts obtained from the books of accounts LMN Trading Company on December 31, 20X1 will enable you to make a multistep income statement. Dr Cr Cash in Bank P 155,000 600,000 Accounts Receivable Allowance for Bad Debts Merchandise Inventory, Jan. 1 Equipment Accumulated Depreciation P 45,000 150,000 300,000 Equipment Accounts Payable Abel Caro, Capital Abel Caro, Drawings 110,000 180,000 650,000 50,000
1,300,000 Net Sales Net Purchases Salaries and Wages Bad Debts Expense Depreciation Expense Rent Expense Utilities Expense 630,000 210,000 20,000 40,000 80,000 50,000 P 2,285,000 P 2.285.000 Totals
Transcribed Image Text:1,300,000 Net Sales Net Purchases Salaries and Wages Bad Debts Expense Depreciation Expense Rent Expense Utilities Expense 630,000 210,000 20,000 40,000 80,000 50,000 P 2,285,000 P 2.285.000 Totals
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