Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. based on the data provided, prepare the trial bala

Based on the data provided, prepare the trial balance, the income statement paying 12% taxes,...

80.2K

Verified Solution

Question

Accounting

Based on the data provided, prepare the trial balance, the income statement paying 12% taxes, and the Statement of financial position R// $ 454.250, $ 54.560, $ 270.000

Cash: $12,500 Marketing expenses: $43,750 Land: $100,000 Administrative expenses: $8,000 Inventory: $18,750 Documents payable: $62,500 Retained earnings: $26,750 Rentals earned: $6,250 Accounts receivable: $31,250 Expenses paid in advance: $6,250 Share capital: $90,000 Advertising expenses: $12,500 VAT accrued at 4%: $25,000 Service income: $162,500 Depreciation expenses: $6,250 Building: $160,000 Interest expense: $31,250 Accumulated depreciation of building: $50,000 Salary expenses: $5,000 Accounts Payable: $18,750 Unexpired insurance: $16,250 Dividends: $15,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

A store has 5 years remaining on its lease in a mall. Rent is $1,900 per...

Biology
1.2K views

In the chloroplastLight leads to the pumping of protons out of the thylakoid space into...

Physics
1.2K views

RT0102 03 A solid sphere is rolling down on inclined plane from rest and a...

Physics
1.2K views

SolveLancer Test Their is a planet of mass M around which a satellite revolve in...

Physics
1.2K views

23 A system consists of two cubes of masses my and m2 respectively connected by...

Statistics
1.2K views

II True or False 7 T or F An experiment is any activity that results...

Calculus
1.2K views

Prove the identity 2 tan x 1 tan x sin 2x

Algebra
1.2K views

1 Determine the slope of the line with the following equation a y 3x 1...

Accounting
1.2K views

12. ABC incorporated as a new business on January 1, 2018....

Accounting
1.2K views

Question 24 4 pts The management of Tumbling Dice, Inc. believes that delivery performance measures...

Finance
1.2K views

Not Complete solution steps Write down the solution on the computer. Write down an analysis...

Finance
1.2K views

(12 points) Consider the following 4-stock portfolio: Stock ...