The following account balances, before adjustments, were taken from the ledger of John Wick on December 31, 2023. Requirements: Cash Notes Receivable Accounts Receivable Unused Office Supplies Prepaid Rent Office Equipment Furniture and Fixture Accumulated Depreciation-Office Equipment Accummulatedd Depreciation- Furniture & Fixtures Notes Payable Loans Payable-Bank Unearned Professional Fees Professional Fees Wick, Capital Wick, Withdrawal Salaries Expense Transportation Expense Advertising Expense Light and Water Expense Telephone Expense Miscellaneous Expense Allowance for Doubtful Accounts P542,500 175,000 210,000 63,000 105,000 210,000 140,000 35,000 24,500 87,500 350,000 70,000 892,500 355,600 73,500 189,000 28,000 24,500 15,750 31,500 21,350 14,000 Prepare Statement of Financial Position as of December 31, 2023.

The following account balances, before adjustments, were taken from the ledger of John Wick on December 31, 2023. Requirements: Cash Notes Receivable Accounts Receivable Unused Office Supplies Prepaid Rent Office Equipment Furniture and Fixture Accumulated Depreciation-Office Equipment Accummulatedd Depreciation- Furniture & Fixtures Notes Payable Loans Payable-Bank Unearned Professional Fees Professional Fees Wick, Capital Wick, Withdrawal Salaries Expense Transportation Expense Advertising Expense Light and Water Expense Telephone Expense Miscellaneous Expense Allowance for Doubtful Accounts P542,500 175,000 210,000 63,000 105,000 210,000 140,000 35,000 24,500 87,500 350,000 70,000 892,500 355,600 73,500 189,000 28,000 24,500 15,750 31,500 21,350 14,000 Prepare Statement of Financial Position as of December 31, 2023.

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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