Question 42 Based on the following adjusted trial balance of Lyndon Company on December 31, 200C, the end of the accounting period P 67,075 70,000 176,500 Cash Note Recervable Accounts Receivable Allowance for Bad Debes Merchandise Iaventory, Jan. 1 Furmiture & Fixtures Accumulated Depreciation - Fum. & Fixt. Office Equipmet Accumulated Depreciation - Office Eapmt Note Payable 5,400 60900 34,100 3,100 15,500 1,500 20,000 94,750 265,000 Accounts Payable Leonard Captal Leonard Drawing Sales Sales Returns Sales Discout Purchases Freight in Purchase Retums Purchase discount 9,500 572,875 11,000 6,400 390,750 5,415 3,630 6,885 Salaries Expense Reat Expense Inwrnce expense Office supplies expene Rental Income 99 S50 24,000 5,250 2.200 5,000 Addimional informanion: Merchandise Iaventory, December 31, P 76,000
Question 42 Based on the following adjusted trial balance of Lyndon Company on December 31, 200C, the end of the accounting period P 67,075 70,000 176,500 Cash Note Recervable Accounts Receivable Allowance for Bad Debes Merchandise Iaventory, Jan. 1 Furmiture & Fixtures Accumulated Depreciation - Fum. & Fixt. Office Equipmet Accumulated Depreciation - Office Eapmt Note Payable 5,400 60900 34,100 3,100 15,500 1,500 20,000 94,750 265,000 Accounts Payable Leonard Captal Leonard Drawing Sales Sales Returns Sales Discout Purchases Freight in Purchase Retums Purchase discount 9,500 572,875 11,000 6,400 390,750 5,415 3,630 6,885 Salaries Expense Reat Expense Inwrnce expense Office supplies expene Rental Income 99 S50 24,000 5,250 2.200 5,000 Addimional informanion: Merchandise Iaventory, December 31, P 76,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Question 42
Based on the following adjusted trial balance of Lyndon Company on December 31, 200C, the end of the accounting
period
P 67,075
70,000
176,500
Cash
Note Recervable
Accounts Receivable
Allowance for Bad Debts
Merchandise Inventory, Jan. 1
Furmiture & Fixtures
5,400
60,900
34,100
Accumulated Depreciation - Furm. & Fixt.
Office Equipment
Accumulated Depreciation - Office Eapms
Note Payable
Accounts Payable
Leonard Captal
Leonard Drawing
3,100
15,500
1,500
20,000
94,750
265,000
9,500
Sales
572,875
Sales Returns
Sales Discount
11,000
6,400
390,750
5,415
Purchases
Freight in
Parchase Returns
Purchase discount
Salaries Expense
Rent Expense
Insurance expense
Office supplies expense
3,630
6,885
99 550
24,000
5,250
2,200
Rental Income
5,000
Additional informanion: Merchandise Inventory, December 31, P 76,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe58a0134-1b8c-4a33-961c-a1f0ba3594d0%2Fd5264c9f-9192-4023-a0af-6bcf7298df67%2Fhlpj3e_processed.png&w=3840&q=75)
Transcribed Image Text:Question 42
Based on the following adjusted trial balance of Lyndon Company on December 31, 200C, the end of the accounting
period
P 67,075
70,000
176,500
Cash
Note Recervable
Accounts Receivable
Allowance for Bad Debts
Merchandise Inventory, Jan. 1
Furmiture & Fixtures
5,400
60,900
34,100
Accumulated Depreciation - Furm. & Fixt.
Office Equipment
Accumulated Depreciation - Office Eapms
Note Payable
Accounts Payable
Leonard Captal
Leonard Drawing
3,100
15,500
1,500
20,000
94,750
265,000
9,500
Sales
572,875
Sales Returns
Sales Discount
11,000
6,400
390,750
5,415
Purchases
Freight in
Parchase Returns
Purchase discount
Salaries Expense
Rent Expense
Insurance expense
Office supplies expense
3,630
6,885
99 550
24,000
5,250
2,200
Rental Income
5,000
Additional informanion: Merchandise Inventory, December 31, P 76,000
![How much is the ending Owner's Equity?
P 341,125
P314,425
P 344,425
P 341,425
Od](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe58a0134-1b8c-4a33-961c-a1f0ba3594d0%2Fd5264c9f-9192-4023-a0af-6bcf7298df67%2Fg6z4gyl_processed.png&w=3840&q=75)
Transcribed Image Text:How much is the ending Owner's Equity?
P 341,125
P314,425
P 344,425
P 341,425
Od
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