Prepare the SFP in Account Form

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...
icon
Related questions
Question

Prepare the SFP in Account Form

The following are the data taken from the book of KenGied Tailoring Shop for the year
ended December 31,2019;
Cash
P18,600
10,000
Accounts Receivable
Notes Receivable
5,000
4,000
10,000
Prepaid Rent
Furniture
Equipment
Accounts Payable
Notes Payable
50,000
6,000
4,000
Accrued Salaries
1,908
Unearned Interest Income
300
SSS Premium Payable
Withholding Taxes Payable
Kengied, Capital
Allowance for bad Debts
66
26
84,887
80
Accumulated Depreciation- Furniture
Accumulated Depreciation-Equipment
55
278
Transcribed Image Text:The following are the data taken from the book of KenGied Tailoring Shop for the year ended December 31,2019; Cash P18,600 10,000 Accounts Receivable Notes Receivable 5,000 4,000 10,000 Prepaid Rent Furniture Equipment Accounts Payable Notes Payable 50,000 6,000 4,000 Accrued Salaries 1,908 Unearned Interest Income 300 SSS Premium Payable Withholding Taxes Payable Kengied, Capital Allowance for bad Debts 66 26 84,887 80 Accumulated Depreciation- Furniture Accumulated Depreciation-Equipment 55 278
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage