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!
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F61316ef8-f224-44ba-a971-0121854cd817%2Fd62e6635-d914-4b2b-8d05-3a42130807fa%2F0jjcoa5_processed.jpeg&w=3840&q=75)
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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