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