QS 4-21 (Algo) Preparing a classified balance sheet for a merchandiser LO P4 Clear Water Company reports the following balance sheet accounts as of December 31. Buildings Accounts receivable Land Merchandise inventory Accounts payable Cash Notes payable (due in 7 years) Office supplies Common stock Retained earnings Wages payable Accumulated Depreciation-Buildings Prepare a classified balance sheet. Current assets Accounts receivable Merchandise inventory Cash Total current assets Plant assets Buildings Land Answer is not complete. Clear Water Company Balance Sheet December 31 Assets Accumulated depreciation-Buildings Total plant assets Total assets Liabilities $ 35,000 2,400 19,800 7,800 5,400 8,800 38,000 1,800 10,000 14,000 3,400 4,800 $ 2,400 7,800 8,800 35,000 19,800 $ 19,000 $ 15,200 4,800 20,000 39,000

QS 4-21 (Algo) Preparing a classified balance sheet for a merchandiser LO P4 Clear Water Company reports the following balance sheet accounts as of December 31. Buildings Accounts receivable Land Merchandise inventory Accounts payable Cash Notes payable (due in 7 years) Office supplies Common stock Retained earnings Wages payable Accumulated Depreciation-Buildings Prepare a classified balance sheet. Current assets Accounts receivable Merchandise inventory Cash Total current assets Plant assets Buildings Land Answer is not complete. Clear Water Company Balance Sheet December 31 Assets Accumulated depreciation-Buildings Total plant assets Total assets Liabilities $ 35,000 2,400 19,800 7,800 5,400 8,800 38,000 1,800 10,000 14,000 3,400 4,800 $ 2,400 7,800 8,800 35,000 19,800 $ 19,000 $ 15,200 4,800 20,000 39,000

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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A junior accountant at Salah Traders has prepared the post - adjustment trial balance below. He requires your assistance in preparing the financial statements for the entity. Post adjustment Trial Balance for Salah Traders for the year ended 31 October 2023. Required: Prepare the Statement for Financial Position for Salah Traders as at the 31 October 2023.
Financial Reporting Analysis Final... Accumulated depreciation on vehicles Accumulated depreciation on equipment Investment: Med Bank (8 % p.a.) Debtors control Provision for bad debts Bank Creditors control Loan: Med Bank (18% p.a.) Nominal accounts section Sales Opening stock Purchases Purchases returns Sales returns Salaries and wages Bad debts Stationery Rates and taxes Motor expenses Repairs and maintenance Telephone Electricity and water Bank charges 09:21 Advertising Interest on mortgage loan Interest on investment Rent income 1. 1.1 1.2 2. 3. 4. 5. 6. 7. 8. 9. 10. 10.1 10.2 On equipment at 10% p.a. on cost. Q 450 000 444 000 A 602 700 200 000 2 150 000 60 000 1 234 000 42 000 68 000 178 000 300 000 52 000 100 000 150 000 18 000 194 000 130 000 13 122 700 Adjustments and additional information According to stocktaking done on 28 February 2022, the following were on hand: Trading inventory R240 000 Stationery R6 000. A debtor who was declared insolvent paid R4 200, which…
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Please see attached docs. CHART OF ACCOUNTSASSETS110 Cash111 Petty Cash121 Accounts Receivable122 Allowance for Doubtful Accounts126 Interest Receivable127 Notes Receivable131 Merchandise Inventory141 Office Supplies142 Store Supplies151 Prepaid Insurance191 Land192 Store Equipment193 Accumulated Depreciation-Store Equipment194 Office Equipment195 Accumulated Depreciation-Office EquipmentLIABILITIES210 Accounts Payable221 Salaries Payable231 Sales Tax Payable232 Interest Payable241 Notes Payable251 Bonds Payable252 Discount on Bonds Payable253 Premium on Bonds PayableEQUITY311 Common Stock312 Paid-In Capital in Excess of Par-Common Stock315 Treasury Stock321 Preferred Stock322 Paid-In Capital in Excess of Par-Preferred Stock331 Paid-In Capital from Sale of Treasury Stock340 Retained Earnings351 Cash Dividends352 Stock DividendsREVENUE410 Sales610 Interest Revenue611 Gain on Redemption of BondsEXPENSES510 Cost of Merchandise Sold515 Credit Card Expense516 Cash Short and Over521 Sales…
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Question Completion Moving to another question will save this response. Question 6 AMA Company's bank statement for 31st December 2021 showed a cash balance of $2750. The company's Cash account in its general ledger showed a $2000 debit balance. The following information was also available as of December 31st a. A $900 NSF check from a customer, J. Steel is shown on the bank statement but not yet recorded by the company. b. The December 31st cash receipts, $3,250, were placed in the bank's night depository after banking hours and this amount did not appear on the December 31st bank statement. c. A $59 debit memorandum for checks Book deducted by the bank. d. Outstanding checks amounted to $2,339. e. A customer's note for $2,790 was collected by the bank. A collection fee of $20 was deducted by the bank and the difference was deposited in the account. f. The bank erroneously deducts a check for $150 by mistake. Required: Prepare a bank reconciliation as of December 31st format: W
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Only E7-18 and E7-19. Thank you
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