Prepare Balance Sheet an for Adam Investment Cooperation for the year ended on July 31", 2022 Cash Electricity expense 8,300 40,000 180,500 Prepaid electricity 90,500 7,500 8,400 Sales 11,700 5,500 5,000 20,000 60,000 80,000 6,300 Purchased Interest expense Fright IN Salary payable Maintenance expense Rent expense Depreciation expenses-Vehicle Accumulated depreciation-vehicle 15,000 21,800 10,500 Vehicle Land Prepaid rent Building Rent revenue Unearned rent 8,500 50,000 150,000 Accumulated depreciation-Building 62,000 22,000 40,000 6,100 Owner's investment 1500 Owner's drawing Retain earning Note payable (Due for payment 2030) Estimated inventory return Customer refund payable Marketing expenses Office supplies Merchandise Inventory on July 31", 2022 30,600 6000 12,500 10,500 Account Receivable 29700 Account Payable 48500 Net income for the year Proportion of note payable due in this year lote: the balance sheet is not balancing 5000 100,000
Prepare Balance Sheet an for Adam Investment Cooperation for the year ended on July 31", 2022 Cash Electricity expense 8,300 40,000 180,500 Prepaid electricity 90,500 7,500 8,400 Sales 11,700 5,500 5,000 20,000 60,000 80,000 6,300 Purchased Interest expense Fright IN Salary payable Maintenance expense Rent expense Depreciation expenses-Vehicle Accumulated depreciation-vehicle 15,000 21,800 10,500 Vehicle Land Prepaid rent Building Rent revenue Unearned rent 8,500 50,000 150,000 Accumulated depreciation-Building 62,000 22,000 40,000 6,100 Owner's investment 1500 Owner's drawing Retain earning Note payable (Due for payment 2030) Estimated inventory return Customer refund payable Marketing expenses Office supplies Merchandise Inventory on July 31", 2022 30,600 6000 12,500 10,500 Account Receivable 29700 Account Payable 48500 Net income for the year Proportion of note payable due in this year lote: the balance sheet is not balancing 5000 100,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Prepare Balance Sheet an
for Adam Investment Cooperation for the year ended
on July 31", 2022
Cash
Electricity expense
40,000
180,500 Prepaid electricity
90,500
7,500
8,400
15,000
21,800
10,500
8,300
Sales
11,700
Purchased
5,500
Fright IN
Salary payable
Maintenance expense
Interest expense
Depreciation expenses-Vehicle
Accumulated depreciation-vehicle
5,000
20,000
60,000
80,000
6,300
50,000
1500
Vehicle
Rent expense
Land
Prepaid rent
Building
Rent revenue
Unearned rent
Owner's investment
Owner's drawing
Retain earning
8,500
150,000 Accumulated depreciation - Building
62,000
22,000
Customer refund payable
Marketing expenses
Office supplies
Merchandise Inventory on July 31", 2022 30,600
6000
12,500
10,500
Note payable (Due for payment 2030)
Estimated inventory return
40,000
6,100
Account Receivable
29700
Account Payable
48500
Proportion of note payable due in this
5000
Net income for the year
100,000
year
Note: the balance sheet is not balancing](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbb46a0e5-74da-49fe-8830-275eacb78c06%2Ff5e3fbcc-0ed9-48d4-9b86-2f497fc93267%2Fr2qrqv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Prepare Balance Sheet an
for Adam Investment Cooperation for the year ended
on July 31", 2022
Cash
Electricity expense
40,000
180,500 Prepaid electricity
90,500
7,500
8,400
15,000
21,800
10,500
8,300
Sales
11,700
Purchased
5,500
Fright IN
Salary payable
Maintenance expense
Interest expense
Depreciation expenses-Vehicle
Accumulated depreciation-vehicle
5,000
20,000
60,000
80,000
6,300
50,000
1500
Vehicle
Rent expense
Land
Prepaid rent
Building
Rent revenue
Unearned rent
Owner's investment
Owner's drawing
Retain earning
8,500
150,000 Accumulated depreciation - Building
62,000
22,000
Customer refund payable
Marketing expenses
Office supplies
Merchandise Inventory on July 31", 2022 30,600
6000
12,500
10,500
Note payable (Due for payment 2030)
Estimated inventory return
40,000
6,100
Account Receivable
29700
Account Payable
48500
Proportion of note payable due in this
5000
Net income for the year
100,000
year
Note: the balance sheet is not balancing
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