Prepare Financial Statement, Balance Sheet and Statement of Changes in Equity, of the company with proper financial statement format. rawingsCash6,600.00Short-term investments7,200.00Accounts receivablesInventory8,000.003,000.00SuppliesPrepayments1,100.001,400.00Land6,000.00BuildingPlant and MachineryEquipmentAccumulated depreciation6,000.009,000.0015,000.005,000.00Intangibles3,100.00Accounts payableTaxes payableSalaries and wages payableUnearned revenueInterest payableMortgage payable9,600.002,000.003,100.00900.00400.004,000.00Bank Loans6,000.00Other Long-term debt1,300.00TOTAL$122,500.00$122,500.00 General Instruction: Upload your answers through the upload feature of this activity.Below is the Adjusted Trial Balance of Ed Noel Enterprise for the year ended December 31, 2019. Preparethe Income Statement/1J, Balance Sheet(1and Statement of Changes in Equituof the company with proper acial statement format.DebitCreditSales revenue$48,400.00Sales returns and allowances$1,200.00Sales discountCost of goods sold800.0031,600.00Salaries and wages6,400.00Utilities expense1,700.00Advertising expense1,600.00Depreciation expense1,500.00Insurance expense200.00Interest expense100.00TaxesOwners capital beginningAdditional capital100.0031,800.0010,000.00Owners drawings10,900.00Cash6,600.00Short-term investments7,200.00

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Description: Prepare Financial Statement, Balance Sheet and Statement of Changes in Equity, of the company with proper financial statement format. rawingsCash6,600.00Short-term investments7,200.00Accounts receivablesInventory8,000.003,000.00SuppliesPrepayments1,1

Financial statement includes various statement like statement of cash flow (CFS), Balance sheet,…

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Business

Accounting

Prepare Financial Statement, Balance Sheet and Statement of Changes in Equity, of the company with proper financial statement format.

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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