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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. Cash in Bank Accounts Receivable P Dr. 155,000 600,000 Cr.

Accounts obtained from the books of accounts LMN Trading Company on December 31, 20X1 will enable you to make a multistep income statement. Cash in Bank Accounts Receivable P Dr. 155,000 600,000 Cr.

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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Exercise 2-3 Accounts obtained from the books of accounts LMN Trading Company on December 31, 20X1 will enable you to make a multistep income statement. 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 Net Sales Net Purchases Salaries and Wages Bad Debts Expense Depreciation Expense Rent Expense Utilities Expense Totals P Dr. 155,000 600,000 150,000 300,000 50,000 630,000 210,000 20,000 40,000 80,000 50,000 P 2,285,000 Merchandise Inventory Dec. 31, 20X1 is P180,000. What is the reporting period? Cr. P 45,000 110,000 180,000 -650,000 1,300,000 300,00⁰ P 2,285,000
Transcribed Image Text:Exercise 2-3 Accounts obtained from the books of accounts LMN Trading Company on December 31, 20X1 will enable you to make a multistep income statement. 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 Net Sales Net Purchases Salaries and Wages Bad Debts Expense Depreciation Expense Rent Expense Utilities Expense Totals P Dr. 155,000 600,000 150,000 300,000 50,000 630,000 210,000 20,000 40,000 80,000 50,000 P 2,285,000 Merchandise Inventory Dec. 31, 20X1 is P180,000. What is the reporting period? Cr. P 45,000 110,000 180,000 -650,000 1,300,000 300,00⁰ P 2,285,000
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