Prepare the Income Statement (multi-step) and Financial Position (Report form) thank you Kakapoy Computer Enterprise began operations in 2017.A disorganized trial balance as of end of second year, 2018, is given below.Prepare the SCI (Multi-Step Form) and SFP (Report Form)All currency is in US DollarsKakapoy Computer EnterpriseTrial BalanceDecember 31, 2018AccountDebitCreditOffice Rent$20,000.0060,000.00309,000.00Cash on HandCash in BankMerchandise Inventory, 1JanuaryVAT PayableSupplies InventoryAccoumulated%$4$137,500.00%$454,500.00$46,000.00Depreciation - OfficeFurniture and EquipmentOffice Salaries and WagesNotes Payable (due 2021)$49,000.00$4130,000.00%24140,000.001,257,500.00SalesPurchasesSalaries and Wages -%$4500,000.00$40,500.00Store15,000.00Purchase DiscountOffice Furniture and$214,500.00EquipmentDepreciation Expense -Office Furniture and$25,000.00EquipmentAccounts RecievableBad Debts ExpenseInterest ExpenseStore Supplies UsedDepreciation Expense -38,000.002,800.0067,500.005,500.0020,000.002$2$cs Scarmed wilh Carduanrer

An income statement is a financial statement that shows you the company's income and expenditures.…

Kakapoy Computer Enterprise began operations in 2017. A disorganized trial balance as of end of second year, 2018, is given below. Prepare the SCI (Multi-Step Form) and SFP (Report Form) All currency is in US Dollars Kakapoy Computer Enterprise Trial Balance December 31, 2018 Account Debit Credit Office Rent Cash on Hand $4 %$4 20,000.00 60,000.00 309,000.00 Cash in Bank Merchandise Inventory, 1 January VAT Payable Supplies Inventory Accoumulated 137,500.00 $4 54,500.00 $4 6,000.00 Depreciation - Office Furniture and Equipment Office Salaries and Wages Notes Payable (due 2021) Sales $ 49,000.00 130,000.00 24 140,000.00 2$ 1,257,500.00 Purchases 24 500,000.00 Salaries and Wages - $ 40,500.00 Store $4 15,000.00 Purchase Discount Office Furniture and 214,500.00 Equipment Depreciation Expense - Office Furniture and Equipment Accounts Recievable Bad Debts Expense Interest Expense $ 25,000.00 %$4 $4 38,000.00 2,800.00 67,500.00 5 500 00

Kakapoy Computer Enterprise began operations in 2017. A disorganized trial balance as of end of second year, 2018, is given below. Prepare the SCI (Multi-Step Form) and SFP (Report Form) All currency is in US Dollars Kakapoy Computer Enterprise Trial Balance December 31, 2018 Account Debit Credit Office Rent Cash on Hand $4 %$4 20,000.00 60,000.00 309,000.00 Cash in Bank Merchandise Inventory, 1 January VAT Payable Supplies Inventory Accoumulated 137,500.00 $4 54,500.00 $4 6,000.00 Depreciation - Office Furniture and Equipment Office Salaries and Wages Notes Payable (due 2021) Sales $ 49,000.00 130,000.00 24 140,000.00 2$ 1,257,500.00 Purchases 24 500,000.00 Salaries and Wages - $ 40,500.00 Store $4 15,000.00 Purchase Discount Office Furniture and 214,500.00 Equipment Depreciation Expense - Office Furniture and Equipment Accounts Recievable Bad Debts Expense Interest Expense $ 25,000.00 %$4 $4 38,000.00 2,800.00 67,500.00 5 500 00

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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Noor started her business on June 1, 2020. Noor Trial Balance August 31, 2020 SL Particulars Debit Credit 1 Cash 55,600 2 Supplies 16,300 3 Prepaid Insurance 16,000 4 Land 22,000 5 Cottages 5,000 Furniture 26,000 7 Account Payable 16,500 8 Unearned Rent 10,400 Mortgage Payable 10,000 10 Сapital 70,000 11 Drawing 5,000 12 Rent Revenue 57,000 13 Repair Expense 3,600 14 Salaries Expense 5,000 15 Utility Expense 9,400 ТОTAL 163,900 163,900 Other information: (1) End of August 31 the balance of prepaid insurance is Tk. 1600 (2) Supplies used during the period Tk. 800 (3) Furniture has 6 years life with no salvage value and cost is Tk 26000 [formula: Depreciation = (cost - salvage value) / lifetime] (4) Balance of unearned revenue is 700 at the end of August 31.