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

Q

The loop of Henle is considered an engineering marvel. If the loop were straight, what negative...

Medical Sciences
Q

Would you describe the AC/Str-s as competent? Why or Why not?

Biology
Q

Which of the following is an example of a triadic sentence?We operate under a jury...

Biology
Q

Income Brackets The following diagram shows the movement of households in a certain country among...

Statistics
Q

DETAILS Children No Children Each person in a representative sample of 3 337 students at...

Statistics
Q

4 Solve the equation by completing the square More than one answer may be correct...

Algebra
Q

Remington es soltero y presenta su declaracin usando el estado civil de cabeza de familia....

Accounting
Q

Current Attempt In Progress: The before-tax income for Marin Co. for 2020 was $94,000...

Accounting
Q

I just want an excel file acordiing to my response can u do it for...

Accounting
Q

Using the expanded accounting equation, calculate and enter the answers for each question. You will...

Accounting
Q

Required information [The following information applies to the questions displayed below.] Iguana, Incorporated, manufactures bamboo...

Accounting
Q

i need the answer quickly E ANNUITY IF THE FIRST CASH FLOWS HAPPENS TODAY

Finance