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The following account balances appear in the books of XYZ Trading company on December 31, 201A Classify the accounts assets/liabilities/equity/income/expense Accumulated Depreciation Sales Delivery Vehicles 6750000 Other Non-curent Assets 30000 Accounts Payable 50000 Cash Short term Notes Payable Accounts Receivable 750000 Bank Loan 20000 Merchandise Inventory 2500000 Comman Stock 3000000 Prepaid Insurance 24000 Retained Eamings Deposits on Rent of Store Sales Warehouse 3000000 Cost of Goods Sold T12S0000 Accumudated Depreciation - Warehouse 1000000 Sales Salaries and Wages Warchouse Fixtures Sales Commissions 500000 Accumulated Depreciation - Warehouse Fiatures Rent Expense - Store Warehouse Fumitures Advertising and Promotion 200000 Accumulated Depreciation Warehouse Fumiture 400000 Telephone and Communication- Sales 100000 Warehouse Equipment 2000000 office Materials and Supplies Sales Accumulated Depreciation Warehouse Equipment 720000 Electricity and Power - Sales 120000 Ofice Fumiture and Equipment Accumulated Depreciation Office Furniture and Gas and O - Sales Equipment Vehicle Repairs and Maintenance - Sales Warehouse Vehicles Salaries and Wages - General 1200000 Accumudated Depreciation - Warehouse Vehides 205O00 Telephone and Communication General 12000 Sales Delivery Vehicles office Materials and Supplies - General 16000 Electricity and Power General 240000 Gas and O8- General 120000 Vehicle Repairs and Maintenance General Other Repairs and Maintenance General 50000

The following account balances appear in the books of XYZ Trading company on December 31, 201A Classify the accounts assets/liabilities/equity/income/expense Accumulated Depreciation Sales Delivery Vehicles 6750000 Other Non-curent Assets 30000 Accounts Payable 50000 Cash Short term Notes Payable Accounts Receivable 750000 Bank Loan 20000 Merchandise Inventory 2500000 Comman Stock 3000000 Prepaid Insurance 24000 Retained Eamings Deposits on Rent of Store Sales Warehouse 3000000 Cost of Goods Sold T12S0000 Accumudated Depreciation - Warehouse 1000000 Sales Salaries and Wages Warchouse Fixtures Sales Commissions 500000 Accumulated Depreciation - Warehouse Fiatures Rent Expense - Store Warehouse Fumitures Advertising and Promotion 200000 Accumulated Depreciation Warehouse Fumiture 400000 Telephone and Communication- Sales 100000 Warehouse Equipment 2000000 office Materials and Supplies Sales Accumulated Depreciation Warehouse Equipment 720000 Electricity and Power - Sales 120000 Ofice Fumiture and Equipment Accumulated Depreciation Office Furniture and Gas and O - Sales Equipment Vehicle Repairs and Maintenance - Sales Warehouse Vehicles Salaries and Wages - General 1200000 Accumudated Depreciation - Warehouse Vehides 205O00 Telephone and Communication General 12000 Sales Delivery Vehicles office Materials and Supplies - General 16000 Electricity and Power General 240000 Gas and O8- General 120000 Vehicle Repairs and Maintenance General Other Repairs and Maintenance General 50000

FINANCIAL ACCOUNTING
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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The following account balances appear in the books ofr XYZ Trading company on December 31, 201A: Accumulated Depreciation Sales Dellvery Vehicles 6750000 Classify the accounts Other Non current Assets 300000 assets/liabilities/equity/income/expense Accounts Payable 850000 Cash 180000 Short-term Notes Payabie S00000 Accounts Recevable 750000 Bank Loan 2000000 Merchandise Inventory 2500000 Common Stock 3000000 Prepaid Insurance 24000 Retained Eamings 6466000 Deposits on Rent of Store 150000 Sales 95000000 Warehouse 3000000 Cost of Goods Sold 71250000 Accumulated Depreciation - Warehouse 1000000 Sales Salarles and Wages 1000000 Warchouse Fixtures 1000000 Sales Commissions 500000 Accumulated Depreciation Warehouse Fixtures 360000 Rent Expense - Store 60000 Warehouse Fumitures Advertising and Promotion 200000 Accumulated Depreciation - Warehouse Fumiture 400000 Telephone and Communication Sales 100000 Warehouse Equipment 2000000 office Materials and Supplies - Sales Accumulated Depreciation - Warehouse Equipment 720000 Electricity and Power Sales 120000 1500000 Office Fumiture and Equipment Accumulated Depreciation - Office Furniture and Equipment Gas and Oi - Sales 160000 S10000 Vehicle Repairs and Maintenance Sales 100000 Warchouse Vehicles 7000000 Salaries and Wages - General 1200000 Accumulated Depreciation - Warehouse Vehicles 205s000 Telephone and Communication General 120000 Sales Delivery Vehicles 25000000 ofice Materials and Supplies - General 160000 Electricity and Power - General 240000 Gas and O- General 120000 Vehicle Repairs and Maintenance General S0000 Other Repairs and Maintenance- General
Transcribed Image Text:The following account balances appear in the books ofr XYZ Trading company on December 31, 201A: Accumulated Depreciation Sales Dellvery Vehicles 6750000 Classify the accounts Other Non current Assets 300000 assets/liabilities/equity/income/expense Accounts Payable 850000 Cash 180000 Short-term Notes Payabie S00000 Accounts Recevable 750000 Bank Loan 2000000 Merchandise Inventory 2500000 Common Stock 3000000 Prepaid Insurance 24000 Retained Eamings 6466000 Deposits on Rent of Store 150000 Sales 95000000 Warehouse 3000000 Cost of Goods Sold 71250000 Accumulated Depreciation - Warehouse 1000000 Sales Salarles and Wages 1000000 Warchouse Fixtures 1000000 Sales Commissions 500000 Accumulated Depreciation Warehouse Fixtures 360000 Rent Expense - Store 60000 Warehouse Fumitures Advertising and Promotion 200000 Accumulated Depreciation - Warehouse Fumiture 400000 Telephone and Communication Sales 100000 Warehouse Equipment 2000000 office Materials and Supplies - Sales Accumulated Depreciation - Warehouse Equipment 720000 Electricity and Power Sales 120000 1500000 Office Fumiture and Equipment Accumulated Depreciation - Office Furniture and Equipment Gas and Oi - Sales 160000 S10000 Vehicle Repairs and Maintenance Sales 100000 Warchouse Vehicles 7000000 Salaries and Wages - General 1200000 Accumulated Depreciation - Warehouse Vehicles 205s000 Telephone and Communication General 120000 Sales Delivery Vehicles 25000000 ofice Materials and Supplies - General 160000 Electricity and Power - General 240000 Gas and O- General 120000 Vehicle Repairs and Maintenance General S0000 Other Repairs and Maintenance- General
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