APPLICATION Activity #2: Convergence, Inc. Instructions: The Account balances of Convergence, Inc. as of June 30, 2017 are given below. Prepare the SFP for the entity in both Report Form and Account Form. Debit (Peso) Viupa 21 90 900,00 Accounts Credit (Peso) Notes Payable, due after 10 years Prepaid Rent Chen, Capital Cash Allowance for Doubtful Accounts Property and Equipment Chen, Drawing Account Receivable Account Payable 477 850.00 960 250.00 27 700.00 5 800.00 1 230 000.00 30 000.00 95 300.00 30 000.00 TOTALS: 1 473 900.00 1 473 900.00

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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APPLICATION
Activity #2: Convergence, Inc.
Instructions: The Account balances of Convergence, Inc. as of June 30,
2017 are given below. Prepare the SFP for the entity in both
Report Form and Account Form.
Accounts
Debit (Peso)
Credit (Peso)
Notes Payable, due after 10 years
Prepaid Rent
Chen, Capital
Cash
Allowance for Doubtful Accounts
Property and Equipment
Chen, Drawing
Account Receivable
Account Payable
477 850.00
90 900,00
960 250.00
27 700.00
5 800.00
1 230 000.00
30 000.00
95 300.00
30 000.00
TOTALS:
1 473 900.00
1 473 900.00
Transcribed Image Text:APPLICATION Activity #2: Convergence, Inc. Instructions: The Account balances of Convergence, Inc. as of June 30, 2017 are given below. Prepare the SFP for the entity in both Report Form and Account Form. Accounts Debit (Peso) Credit (Peso) Notes Payable, due after 10 years Prepaid Rent Chen, Capital Cash Allowance for Doubtful Accounts Property and Equipment Chen, Drawing Account Receivable Account Payable 477 850.00 90 900,00 960 250.00 27 700.00 5 800.00 1 230 000.00 30 000.00 95 300.00 30 000.00 TOTALS: 1 473 900.00 1 473 900.00
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