Please do not give solution in image format thanku The adjusted trial balance of Ivanhoe Fashion Retailers Inc. appears below.CashAccounts ReceivableInventoryPrepaid InsuranceEquipmentAccumulated Depreciation-EquipmentNotes PayableAccounts PayableSalaries and Wages PayableProperty Taxes PayableCommon StockCommon StockRetained EarningsDividendsSales RevenueIVANHOE FASHION RETAILERS, INC.Adjusted Trial BalanceDecember 31, 2025COGSDepreciation ExpenseSalaries and Wages Expense (selling 25,700/general 10,000)Insurance ExpenseAdvertising ExpenseTelephone and Internet ExpenseProperty Tax ExpenseDebit$6,9005,20080,0001,800100,20040,100228,5003,60035,7009001,4001,0002,900$508,200Credit$12,40010,1009,3004,2001.10020,10020,10071,800379,200$508,200 Using the information from the adjusted trial balance, you are to prepare for the year ending December 31, 2025 incomestatement. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45).)Sales RevenueCost of Goods SoldGros Profit on SalesSelling ExpensesSalaries and Wages ExpenseAdvertising ExpenseTotal Selling ExpensesTotal Selling ExpensesAdministrative ExpensesSalaries and Wages ExpenseDepreciation ExpenseProperty Tax ExpenseInsurance ExpenseTelephone and Internet ExpenseTotal Administrative ExpensesTotal ExpensesNet Income/(Loss)IVANHOE FASHION RETAILERS INC.Income StatementFor the Year Ended December 31, 2025$

The income statement is one of the important financial statements of the business. It records the…

Dividends Sales Revenue COGS Depreciation Expense Salaries and Wages Expense (selling 25,700/general 10,000) Insurance Expense Advertising Expense Telephone and Internet Expense Property Tax Expense 40,100 228,500 3.600 35,700 900 1,400 1,000 2,900 $508,200 379,200 $508,200

Dividends Sales Revenue COGS Depreciation Expense Salaries and Wages Expense (selling 25,700/general 10,000) Insurance Expense Advertising Expense Telephone and Internet Expense Property Tax Expense 40,100 228,500 3.600 35,700 900 1,400 1,000 2,900 $508,200 379,200 $508,200

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10PB: Goods for Less uses the balance sheet aging method to account for uncollectible debt on receivables....

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DATA PROVIDEDThe pre-adjustment trial balance of Wing-It (Pty) Ltd as at 31 August 2022 is presented:AccountDebitCreditProfessional fees765 000Goods sold435 000Cost of sales215 000Interest received19 500Interest on loan6 300Bank charges3 200Cleaning1 500Staff welfare650Salaries and wages35 850Municipal services6 850Printing and stationery16 715Telephone18 600Fuel and oil56 000Repairs and maintenance: Building5 200Repairs and maintenance: Vehicles6 850Capital: Blue520 000Capital: Green630 000Drawings: Blue35 000Drawings: Green27 000Current account: Blue2 500Current account: Green6 400Retained income265 000Land500 000Buildings1 500 000Accumulated depreciation on buildings21 000Vehicles380 000Accumulated depreciation on vehicles65 000Equipment and electronics79 500Accumulated depreciation on equipment and electronics1 5008% Long-term loan325 000Bank: FNB168 000Bank: ABSA32 000Debtors control account85 000Allowance for credit losses6 400Creditors control account78 600Petty cash2…
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