Ihe accourtsfor the statement of fihancial postionandincame statemert a Altredo Escarno, CPAare atollows:Alteda Ie, CRAAdjunn TrialEe nceDecem ber31, 20XCad itN1,500AccnunDebitAccounts hyableAccounts BeoeivableAccu nauilatel Depredsion - BualingAcu naulated Deprednion -Ofice Eqrip mentAutiing LaenuaBul dingCathDereivtion Expas e-BalingDoreciation Ispase-Otice Eqip matIsano, Capital,Isano, Wahdrawalsn1,000110,00120,0001,361,500750,00011 S0055,00060,0001,215,500165,00075,00060,000362,50096,00026,0006,50052,500735,000IndMots BecdusbleOftice Equap nentOftice Supplie ExpenseOffice SupplisProfeiond Deudep mat IxpenseRent ExpenseSalades IxpenseSalades PyableTrud ExpenseUhlitis ExpenseTOTAL30,50041,00018,000P2 PO1000RB0 1000Required:Bepae in goodfom te icome statement andthe statenet f firndalpostion f Altredo Escano,CPAfrte year ended Deombe 31 201X

The financial statements of the business include the income statement and balance sheet of the firm.

he accountsfor the statement of financil postinandincame stadement d Altredo Escano, CPAare ollows: Alteda Icem, CPA Adjuntn Triel Bence Dacen ber31 201x Accnun Deb it Ced it Accounts hyable Acceunts Receivable Accu nailatel Depredion -Bling Acu naulated Deprednion -Ofice Eqrip ment Auditing Bovenue Bul ding Cash 163,500 Hs8,000 110,000 120,000 1,361,500 750,000 118,500 55,000 60,000 Derecirion Expense-Baling Doreciation Ispase-Otice Epip mat Isano, Capital, Isane, Wahdraals 1,215,500 165,000 75,000 60,000 362,500 96,000 20,000 Ind Note Recdvble Office Equip nent Oftice Supplie Expense Office Supplis Profesiond Deudop mat Expense Rent Expase Salades Expense Salades Payable Inud Expense Uhlitis Epense TOTAL 52,500 735,000 30,500 41,000 18,000 P2.P01000 RBO1000

he accountsfor the statement of financil postinandincame stadement d Altredo Escano, CPAare ollows: Alteda Icem, CPA Adjuntn Triel Bence Dacen ber31 201x Accnun Deb it Ced it Accounts hyable Acceunts Receivable Accu nailatel Depredion -Bling Acu naulated Deprednion -Ofice Eqrip ment Auditing Bovenue Bul ding Cash 163,500 Hs8,000 110,000 120,000 1,361,500 750,000 118,500 55,000 60,000 Derecirion Expense-Baling Doreciation Ispase-Otice Epip mat Isano, Capital, Isane, Wahdraals 1,215,500 165,000 75,000 60,000 362,500 96,000 20,000 Ind Note Recdvble Office Equip nent Oftice Supplie Expense Office Supplis Profesiond Deudop mat Expense Rent Expase Salades Expense Salades Payable Inud Expense Uhlitis Epense TOTAL 52,500 735,000 30,500 41,000 18,000 P2.P01000 RBO1000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA1: International Financial Reporting Standards

Section: Chapter Questions

Problem 3MCQ

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