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Cash 130 115.00 Purchases 1 320.00 Notes Receivable 30 000.00 Freight-in 30 875.00 Purchase Returns and Accounts Receivable 98 750.00 2 585.00 Allowances Allowance for 4 835.00 Purchase Discount 20 000.00 Impairment Loss Merchandise 785 345.00 Sales Salaries 115 600.00 Inventory, 1/1 Prepaid Insurance Unused Supplies 18 000.00 6 000.00 Advertising Expense 3 750.00 Freight-out 12 260.00 Depreciation – Store Equipment Store Equipment 120 000.00 12 000.00 Accumulated Miscellaneous Selling Expenses Depreciation - Store Equipment Office Equipment 36 000.00 17 650.00 60 000.00 Office Salaries 65 900.00 Accumulated Depreciation – Office Equipment Accounts Payable Notes Payable 18 000.00 Rent Expense 48 000.00 371 535.00 Insurance Expense 50 000.00 Supplies Expense 9 000.00 8 650.00 Depreciation - Office Equipment 48 000.00 Impairment Loss Mr. Z, Capital 527 030.00 6 000.00 Mr. Z, Drawing 2 515.00 Miscellaneous General Sales 1 950 345.00 1 800.00 Expenses Sales Return 4 020.00 Interest Income 1 200.00 Sales Discount 20 800.00 Interest Expense 6 000.00 NOTE: Ending Inventory of Merchandise, 715 250 pesos

Cash 130 115.00 Purchases 1 320.00 Notes Receivable 30 000.00 Freight-in 30 875.00 Purchase Returns and Accounts Receivable 98 750.00 2 585.00 Allowances Allowance for 4 835.00 Purchase Discount 20 000.00 Impairment Loss Merchandise 785 345.00 Sales Salaries 115 600.00 Inventory, 1/1 Prepaid Insurance Unused Supplies 18 000.00 6 000.00 Advertising Expense 3 750.00 Freight-out 12 260.00 Depreciation – Store Equipment Store Equipment 120 000.00 12 000.00 Accumulated Miscellaneous Selling Expenses Depreciation - Store Equipment Office Equipment 36 000.00 17 650.00 60 000.00 Office Salaries 65 900.00 Accumulated Depreciation – Office Equipment Accounts Payable Notes Payable 18 000.00 Rent Expense 48 000.00 371 535.00 Insurance Expense 50 000.00 Supplies Expense 9 000.00 8 650.00 Depreciation - Office Equipment 48 000.00 Impairment Loss Mr. Z, Capital 527 030.00 6 000.00 Mr. Z, Drawing 2 515.00 Miscellaneous General Sales 1 950 345.00 1 800.00 Expenses Sales Return 4 020.00 Interest Income 1 200.00 Sales Discount 20 800.00 Interest Expense 6 000.00 NOTE: Ending Inventory of Merchandise, 715 250 pesos

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 Prepare income statement, equity and financial position. thank you!
PERFORMANCE TASK for Application of SCI, SCE, and Worksheet Below is the adjusted balance of Buhaypa Hardware for the calendar year 2018 BUHAYPA HARDWARE Cash 130 115.00 Purchases 1 320.00 Notes Receivable 30 000.00 Freight-in 30 875.00 Purchase Returns and Accounts Receivable 98 750.00 2 585.00 Allowances Allowance for 4 835.00 Purchase Discount 20 000.00 Impairment Loss Merchandise 785 345.00 Sales Salaries 115 600.00 Inventory, 1/1 Prepaid Insurance Unused Supplies 18 000.00 6 000.00 Advertising Expense 3 750.00 Freight-out Depreciation - Equipment 12 260.00 - Store Store Equipment 120 000.00 12 000.00 Accumulated Miscellaneous Selling Expenses Depreciation - Store Equipment Office Equipment 36 000.00 17 650.00 60 000.00 Office Salaries 65 900.00 Accumulated Depreciation – Office Equipment Accounts Payable Notes Payable 18 000.00 Rent Expense 48 000.00 371 535.00 Insurance Expense 50 000.00 Supplies Expense Depreciation – Office Equipment 48 000.00 Impairment Loss 9 000.00 8 650.00 Mr. Z, Capital 527 030.00 6 000.00 Mr. Z, Drawing 2 515.00 Miscellaneous General Sales 1 950 345.00 1 800.00 Expenses 4 020.00 Interest Income Sales Return 1 200.00 20 800.00 Interest Expense NOTE: Ending Inventory of Merchandise, 715 250 pesos Sales Discount 6 000.00 CS Scarned with CamScanner
Transcribed Image Text:PERFORMANCE TASK for Application of SCI, SCE, and Worksheet Below is the adjusted balance of Buhaypa Hardware for the calendar year 2018 BUHAYPA HARDWARE Cash 130 115.00 Purchases 1 320.00 Notes Receivable 30 000.00 Freight-in 30 875.00 Purchase Returns and Accounts Receivable 98 750.00 2 585.00 Allowances Allowance for 4 835.00 Purchase Discount 20 000.00 Impairment Loss Merchandise 785 345.00 Sales Salaries 115 600.00 Inventory, 1/1 Prepaid Insurance Unused Supplies 18 000.00 6 000.00 Advertising Expense 3 750.00 Freight-out Depreciation - Equipment 12 260.00 - Store Store Equipment 120 000.00 12 000.00 Accumulated Miscellaneous Selling Expenses Depreciation - Store Equipment Office Equipment 36 000.00 17 650.00 60 000.00 Office Salaries 65 900.00 Accumulated Depreciation – Office Equipment Accounts Payable Notes Payable 18 000.00 Rent Expense 48 000.00 371 535.00 Insurance Expense 50 000.00 Supplies Expense Depreciation – Office Equipment 48 000.00 Impairment Loss 9 000.00 8 650.00 Mr. Z, Capital 527 030.00 6 000.00 Mr. Z, Drawing 2 515.00 Miscellaneous General Sales 1 950 345.00 1 800.00 Expenses 4 020.00 Interest Income Sales Return 1 200.00 20 800.00 Interest Expense NOTE: Ending Inventory of Merchandise, 715 250 pesos Sales Discount 6 000.00 CS Scarned with CamScanner
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