From the accounts of DELTACOR Company, you are required to properly arrange the followingaccounts according to their group of accounts then:1. Prepare the statement of financial position using the report form.2. Prepare the supporting notes3. Compute the ending capital of DELTAOffice suppliesAccounts ReceivableNotes Receivable30, 00059,40039,600172,6005,0005, 000247,5006, 000180, 000225, 00067, 50072, 000CashInterest ReceivableAllowance for bad debtsMerchandise inventoryPrepaid insuranceFurniture and FixturesDelivery equipmentAccumulated depreciation- Fur. & FixturesAccumulated Depreciation – Delivery Eqpt.Accrued expensesAccounts payableNotes payable (due in 2 yrs)DELTA, capitalDELTA, drawing8, 00045, 000105, 000?50, 000During the year, the owner made an additional investment of P20, 000 and withdrawals amounting of 50, 000.DELTA capital, beginning is 617, 600. Net income for the year is 75, 000.

The statement of financial position is prepared at the end of an accounting year to show the balance…

Answered: From the accounts of DELTACOR Company,…

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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