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

See similar textbooks

Similar questions

Elaborate the users of Financial Statement in detail
Please give an overall description about Revenue Recognition for service company( Like Educational Institution) references IFRS. Please highlight main main things. Thank you in advance.
mention the users of financial information and their respective needs.ment accounting and cost accounting.
1. The inputs in the information system is called as a. reportsb. documentsc. transactionsd. accounts 2. Which of the following are considered as external users of information? (Check all that apply) a. Creditorsb. Stockholdersc. Operations personneld. Supplierse. Accountantsf. Customersg. Tax Authorities
Providing information to external users for decision making is the purpose of which of the following?A) Management reportsB) Tax formsC) Financial statementsD) Inventory reports Group of answer choices A B C D
When using the Spreadsheet (work sheet) method to analyze noncash accounts, it is best to start with Group of answer choices cash net income retained earnings revenue
Use the list of concepts given to match the description of the concept to the concept.
Choose one topic from accounting and write a report on it.
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.
Specific financial statements (e.g. Income Statement, Balance sheet, etc, state all) that are impacted and how they are affected (sections e.g Current assets, gross profit) of the statement that increase or decrease), by the shenanigan
Can I get the income statement, a statement of retained earnings, and a classified balance sheet also?