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A. Read and analyze the adjusted trial balance of AVETOR Hardware for the year ending 31 December 2019. (Attach your answer on this page) P130,115| Freight-in 30,000 Purchase Returns and Allowances 98,750 | Purchase Discount 4,835| Sales Salaries P30,875 2,585 20,000 115,600 18,000 12,260 1,200 Cash Notes Receivable Accounts Receivable Allowance for Impairment LOS Merchandise Inventory, 1/1 Prepaid Insurance Unused Supplies Accounts Payable Notes Payable 785,345 | Advertising Expense 6,000 Freight-out 3,750 | Interest Income 371,535 Miscellaneous Selling Expenses 50,000 Office Salaries 527,030 Rent Expense 48,000 | Insurance Expense 1,950,345 Supplies Expense 4,020 Impairment Loss 20,800 Miscellaneous General Expenses 1,320,500| Interest Expense 120,000 Office Equipment 12,000 Depreciation – Office Equipment 36,000 Accumulated Depreciation Office Equipment 17,650 65,900 48,000 9,000 8,650 2,515 1,800 6,000 60,000 6,000 18,000 Avetor, Capital Avetor, Drawing Sales Sales Returns Sales Discount Purchases Store Equipment Depreciation - Store Equipment Accumulated Depreciation - Store Equipment Note: Ending Inventory of merchandise is P715,250 B. Prepare the Statement of Comprehensive Income (SCI) C. Prepare the Statement of Changes in Equity (SCE) D. Prepare the Statement of Financial Position (SFP)

A. Read and analyze the adjusted trial balance of AVETOR Hardware for the year ending 31 December 2019. (Attach your answer on this page) P130,115| Freight-in 30,000 Purchase Returns and Allowances 98,750 | Purchase Discount 4,835| Sales Salaries P30,875 2,585 20,000 115,600 18,000 12,260 1,200 Cash Notes Receivable Accounts Receivable Allowance for Impairment LOS Merchandise Inventory, 1/1 Prepaid Insurance Unused Supplies Accounts Payable Notes Payable 785,345 | Advertising Expense 6,000 Freight-out 3,750 | Interest Income 371,535 Miscellaneous Selling Expenses 50,000 Office Salaries 527,030 Rent Expense 48,000 | Insurance Expense 1,950,345 Supplies Expense 4,020 Impairment Loss 20,800 Miscellaneous General Expenses 1,320,500| Interest Expense 120,000 Office Equipment 12,000 Depreciation – Office Equipment 36,000 Accumulated Depreciation Office Equipment 17,650 65,900 48,000 9,000 8,650 2,515 1,800 6,000 60,000 6,000 18,000 Avetor, Capital Avetor, Drawing Sales Sales Returns Sales Discount Purchases Store Equipment Depreciation - Store Equipment Accumulated Depreciation - Store Equipment Note: Ending Inventory of merchandise is P715,250 B. Prepare the Statement of Comprehensive Income (SCI) C. Prepare the Statement of Changes in Equity (SCE) D. Prepare the Statement of Financial Position (SFP)

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter9: Current Liabilities And Contingent Obligations
Section: Chapter Questions
Problem 1MC: The balance in Ashwood Companys accounts payable account at December 31, 2019, was 1,200,000 before...
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A. Read and analyze the adjusted trial balance of AVETOR Hardware for the year ending 31 December 2019. (Attach your answer on this page) Cash P130,115| Freight-in 30,000 Purchase Returns and Allowances P30,875 2,585 20,000 115,600 18,000 12,260 1,200 17,650 65,900 48,000 9,000 Notes Receivable Accounts Receivable Allowance for Impairment LoS Merchandise Inventory, 1/1 Prepaid Insurance Unused Supplies Accounts Payable Notes Payable Avetor, Capital Avetor, Drawing 98,750 Purchase Discount 4,835| Sales Salaries 785,345 | Advertising Expense 6,000 | Freight-out 3,750 Interest Income 371,535 | Miscellaneous Selling Expenses 50,000 | Office Salaries 527,030 | Rent Expense 48,000 | Insurance Expense 1,950,345 | Supplies Expense 4,020 | Impairment Loss 20,800 | Miscellaneous General Expenses 1,320,500| Interest Expense 120,000 | Office Equipment 12,000 Depreciation – Office Equipment 36,000 Accumulated Depreciation - 8,650 2,515 Sales Sales Returns Sales Discount 1,800 Purchases Store Equipment Depreciation – Store Equipment Accumulated Depreciation - 6,000 60,000 6,000 18,000 Store Equipment Office Equipment Note: Ending Inventory of merchandise is P715,250 B. Prepare the Statement of Comprehensive Income (SCI) C. Prepare the Statement of Changes in Equity (SCE) D. Prepare the Statement of Financial Position (SFP)
Transcribed Image Text:A. Read and analyze the adjusted trial balance of AVETOR Hardware for the year ending 31 December 2019. (Attach your answer on this page) Cash P130,115| Freight-in 30,000 Purchase Returns and Allowances P30,875 2,585 20,000 115,600 18,000 12,260 1,200 17,650 65,900 48,000 9,000 Notes Receivable Accounts Receivable Allowance for Impairment LoS Merchandise Inventory, 1/1 Prepaid Insurance Unused Supplies Accounts Payable Notes Payable Avetor, Capital Avetor, Drawing 98,750 Purchase Discount 4,835| Sales Salaries 785,345 | Advertising Expense 6,000 | Freight-out 3,750 Interest Income 371,535 | Miscellaneous Selling Expenses 50,000 | Office Salaries 527,030 | Rent Expense 48,000 | Insurance Expense 1,950,345 | Supplies Expense 4,020 | Impairment Loss 20,800 | Miscellaneous General Expenses 1,320,500| Interest Expense 120,000 | Office Equipment 12,000 Depreciation – Office Equipment 36,000 Accumulated Depreciation - 8,650 2,515 Sales Sales Returns Sales Discount 1,800 Purchases Store Equipment Depreciation – Store Equipment Accumulated Depreciation - 6,000 60,000 6,000 18,000 Store Equipment Office Equipment Note: Ending Inventory of merchandise is P715,250 B. Prepare the Statement of Comprehensive Income (SCI) C. Prepare the Statement of Changes in Equity (SCE) D. Prepare the Statement of Financial Position (SFP)
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