Using the Adjusted Trial Balance of Kenpachi, preparethe following:1. Income Statement2. Statement of Changes in equity3. Statement of Financial Position (Balance Sheet)4. Closing Entries5. Post-Closing Trial Balance"Kenpacht ts in its 1= year of operution with an original capital of P971.500KENPACHI GENERAL REPAIRS AND OTHER SERVICESAdjusted Trial BalanceDecember 31, 2019PARTICULARSDebitCreditCash2,050,00070,000Accounta RecelvableAllowance for Doubtful Accounts8,500Office SuppliesPrepaid RentMachinery and EquipmentAccumnlated Depreciation- Machinery and Equipment3,00036,000310,00031,000Furniture and Flatures180,000Accumalated Depreciation- Furniture and FixtureAccounts PayableNates PayableKenpachi, Capital18,00028,000600,000971,5001,070,000Service Revenue4,500Miscellaneous ExpenseUtilities ExpenseRent ExpenseDoubtful Accounts Expense6,00012,0002.500Depreciation ExpenseSupplies Expense49,0004,0002.727.000 2.727000

Name: Using the Adjusted Trial Balance of Kenpachi, preparethe following:1.
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Description: Using the Adjusted Trial Balance of Kenpachi, preparethe following:1. Income Statement2. Statement of Changes in equity3. Statement of Financial Position (Balance Sheet)4. Closing Entries5. Post-Closing Trial Balance"Kenpacht ts in its 1= year of op

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PARTICULARS Debit Credit Cash Accounts Receivable Allowance for Doubtful Accounts 2,050,000 70,000 8,500 Office Supplies Prepaid Rent Machinery and Equipment Accummlated Depreciation- Machinery and Equipment 3,000 36.000 310,000 31,000 Furniture and Fistures 180,000 Accumulated Depreciation- Purniture and Fisture Accounts Payable Notes Payable Kenpachi Capital 18,000 28,000 600,000 971,500 1,070,000 Service Revenue Miscellaneous Expense Utilities Expense Rent Expense ubtful Accounts Expense Depreciation Expense Supplies Expense 4,500 6,000 12.000 2.500 49.000 4.000 2.727,000 2.727.000

PARTICULARS Debit Credit Cash Accounts Receivable Allowance for Doubtful Accounts 2,050,000 70,000 8,500 Office Supplies Prepaid Rent Machinery and Equipment Accummlated Depreciation- Machinery and Equipment 3,000 36.000 310,000 31,000 Furniture and Fistures 180,000 Accumulated Depreciation- Purniture and Fisture Accounts Payable Notes Payable Kenpachi Capital 18,000 28,000 600,000 971,500 1,070,000 Service Revenue Miscellaneous Expense Utilities Expense Rent Expense ubtful Accounts Expense Depreciation Expense Supplies Expense 4,500 6,000 12.000 2.500 49.000 4.000 2.727,000 2.727.000

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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