V. The accounts listed below are taken from the adjusted records of Life Goes On Company as of December 31, 2020. Prepare a classified statement of financial position in (a) account form and (b) report form. Cash Accounts receivable Merchandise inventory Office supplies Prepaid rent Land Building Accumulated Depreciation- Building Delivery truck Accumulated Depreciation- Delivery Truck Store furniture and fixtures Accumulated Depreciation- SFF Office furniture and fixtures Accumulated Depreciation- OFF Accounts payable Notes payable (due 2022) Taxes payable Interest payable (payable on Jan. 30, 2021) Mortgage payable (due 2021) King, Capital P50,000 21,000 109,000 700 2,400 28,000 300,000 30,000 12,500 2,500 38,400 7,680 18,700 3,740 78,000 36,000 14,600 800 54,000 ?

V. The accounts listed below are taken from the adjusted records of Life Goes On Company as of December 31, 2020. Prepare a classified statement of financial position in (a) account form and (b) report form. Cash Accounts receivable Merchandise inventory Office supplies Prepaid rent Land Building Accumulated Depreciation- Building Delivery truck Accumulated Depreciation- Delivery Truck Store furniture and fixtures Accumulated Depreciation- SFF Office furniture and fixtures Accumulated Depreciation- OFF Accounts payable Notes payable (due 2022) Taxes payable Interest payable (payable on Jan. 30, 2021) Mortgage payable (due 2021) King, Capital P50,000 21,000 109,000 700 2,400 28,000 300,000 30,000 12,500 2,500 38,400 7,680 18,700 3,740 78,000 36,000 14,600 800 54,000 ?

Name: V. The accounts listed below are taken from the adjusted records of L
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Description: V. The accounts listed below are taken from the adjusted records of Life Goes On Company as of December31, 2020. Prepare a classified statement of financial position in (a) account form and (b) report form.CashAccounts receivableMerchandise inventor

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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