Particulars Debit Credit CASH 100,000 INVENTORY 124,500 ACCOUNTS RECEIVABLES 12,000 SHORT TERM INVESTMENT 25,000 FURNITURE 100,000 BUILDING 500,000 UNEARNED REVENUE 27,000 ACCOUNTS PAYABLE 9,000 ACC.DEP.PLANT-FURNITURE 5,000 ACC.DEP.BUILDING 6,000 EQUITY 200,000 CONSULTANCY REVENUE 650,000 REPAIR EXPENSE 2,000 RENT EXPENSE 3,500 INSURANCE EXPSNES 1,000 OTHER GENERAL EXPNSE 1,200 UTILITY EXPENSE 6,000 SALARIES EXPENSE 10,000 INTEREST EXPENSE 800 DEPRECIATION EXPENSE 11,000 SALARIES PAYABLE 2,000 TOTAL 897,000 897000 Required Income Statement Statement of Owner’s Equity Balance Sheet
Particulars Debit Credit CASH 100,000 INVENTORY 124,500 ACCOUNTS RECEIVABLES 12,000 SHORT TERM INVESTMENT 25,000 FURNITURE 100,000 BUILDING 500,000 UNEARNED REVENUE 27,000 ACCOUNTS PAYABLE 9,000 ACC.DEP.PLANT-FURNITURE 5,000 ACC.DEP.BUILDING 6,000 EQUITY 200,000 CONSULTANCY REVENUE 650,000 REPAIR EXPENSE 2,000 RENT EXPENSE 3,500 INSURANCE EXPSNES 1,000 OTHER GENERAL EXPNSE 1,200 UTILITY EXPENSE 6,000 SALARIES EXPENSE 10,000 INTEREST EXPENSE 800 DEPRECIATION EXPENSE 11,000 SALARIES PAYABLE 2,000 TOTAL 897,000 897000 Required Income Statement Statement of Owner’s Equity Balance Sheet
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Particulars |
Debit |
Credit |
CASH |
100,000 |
|
INVENTORY |
124,500 |
|
ACCOUNTS RECEIVABLES |
12,000 |
|
SHORT TERM INVESTMENT |
25,000 |
|
FURNITURE |
100,000 |
|
BUILDING |
500,000 |
|
UNEARNED REVENUE |
|
27,000 |
ACCOUNTS PAYABLE |
|
9,000 |
ACC.DEP.PLANT-FURNITURE |
|
5,000 |
ACC.DEP.BUILDING |
|
6,000 |
EQUITY |
|
200,000 |
CONSULTANCY REVENUE |
|
650,000 |
REPAIR EXPENSE |
2,000 |
|
RENT EXPENSE |
3,500 |
|
INSURANCE EXPSNES |
1,000 |
|
OTHER GENERAL EXPNSE |
1,200 |
|
UTILITY EXPENSE |
6,000 |
|
SALARIES EXPENSE |
10,000 |
|
INTEREST EXPENSE |
800 |
|
|
11,000 |
|
SALARIES PAYABLE |
|
2,000 |
TOTAL |
897,000 |
897000 |
Required
- Income Statement
- Statement of Owner’s Equity
Balance Sheet
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