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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please Prepare income statement, equity and financial position.
thank you!

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
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education