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Using the trial balance below, prepare Martini Inc.'s September 30, 2021 Statement of Financial Position. MARTINI INC. Trial Balance At September 30, 2021 ACCOUNT DEBIT CREDIT $14,860 FV-NI Investments (at fair value) Equipment 60,000 2,400 Interest Expense Interest Payable Retained Earnings $600 112,620 Accumulated other comprehensive income 32,000 Dividends 50,400 137,320 Land Accounts Receivable 102,000 Bonds Payable Notes Payable (due in 6 months) FV-OCI Investments (fair value $37,600) 78,000 29,400 25,800 Common Shares 50,000 Accumulated Depreciation-Equip Prepaid Advertising 10,000 5,000 Service Revenue 201,300 Preferred Shares 20,000 Buildings Supplies Income Taxes Payable 80,400 1,860 3,000 Utilities Expense Advertising Expense 1,320 1,560 Salaries and Wages Expense Salaries and Wages Payable Accumulated Depr.-Bld 53,040 006 15,000 Cash 45,000 8,000 Depreciation Expense Accounts payable $ 588,960 36,140 $588,960

Using the trial balance below, prepare Martini Inc.'s September 30, 2021 Statement of Financial Position. MARTINI INC. Trial Balance At September 30, 2021 ACCOUNT DEBIT CREDIT $14,860 FV-NI Investments (at fair value) Equipment 60,000 2,400 Interest Expense Interest Payable Retained Earnings $600 112,620 Accumulated other comprehensive income 32,000 Dividends 50,400 137,320 Land Accounts Receivable 102,000 Bonds Payable Notes Payable (due in 6 months) FV-OCI Investments (fair value $37,600) 78,000 29,400 25,800 Common Shares 50,000 Accumulated Depreciation-Equip Prepaid Advertising 10,000 5,000 Service Revenue 201,300 Preferred Shares 20,000 Buildings Supplies Income Taxes Payable 80,400 1,860 3,000 Utilities Expense Advertising Expense 1,320 1,560 Salaries and Wages Expense Salaries and Wages Payable Accumulated Depr.-Bld 53,040 006 15,000 Cash 45,000 8,000 Depreciation Expense Accounts payable $ 588,960 36,140 $588,960

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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Using the trial balance below, prepare Martini Inc.'s September 30, 2021 Statement of Financial Position. MARTINI INC. Trial Balance At September 30, 2021 ACCOUNT DEBIT CREDIT FV-NI Investments (at fair value) $14,860 Equipment 60,000 Interest Expense Interest Payable Retained Earnings Accumulated other comprehensive 2,400 $600 112,620 income 32,000 Dividends 50,400 Land 137,320 Accounts Receivable 102,000 Bonds Payable Notes Payable (due in 6 months) FV-OCI Investments (fair value $37,600) 78,000 29,400 25,800 Common Shares 50,000 Accumulated Depreciation-Equip 10,000 Prepaid Advertising 5,000 Service Revenue 201,300 20,000 Preferred Shares Buildings Supplies Income Taxes Payable 80,400 1,860 3,000 Utilities Expense Advertising Expense 1,320 1,560 Salaries and Wages Expense Salaries and Wages Payable Accumulated Depr.-Bld Cash 53,040 900 15,000 45,000 Depreciation Expense Accounts payable 8,000 36,140 $588,960 $ 588,960
Transcribed Image Text:Using the trial balance below, prepare Martini Inc.'s September 30, 2021 Statement of Financial Position. MARTINI INC. Trial Balance At September 30, 2021 ACCOUNT DEBIT CREDIT FV-NI Investments (at fair value) $14,860 Equipment 60,000 Interest Expense Interest Payable Retained Earnings Accumulated other comprehensive 2,400 $600 112,620 income 32,000 Dividends 50,400 Land 137,320 Accounts Receivable 102,000 Bonds Payable Notes Payable (due in 6 months) FV-OCI Investments (fair value $37,600) 78,000 29,400 25,800 Common Shares 50,000 Accumulated Depreciation-Equip 10,000 Prepaid Advertising 5,000 Service Revenue 201,300 20,000 Preferred Shares Buildings Supplies Income Taxes Payable 80,400 1,860 3,000 Utilities Expense Advertising Expense 1,320 1,560 Salaries and Wages Expense Salaries and Wages Payable Accumulated Depr.-Bld Cash 53,040 900 15,000 45,000 Depreciation Expense Accounts payable 8,000 36,140 $588,960 $ 588,960
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