FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Prepare Notes to Financial Statements (Statement of Comprehensive Income)
The following information is taken from the ledger of SAP Trading as of December 31, 2019:
|
Cash |
P 520,000 |
|
|
690,000 |
|
Notes receivable |
170,500 |
|
Prepaid insurance |
80,000 |
|
Merchandise inventory, beginning |
400,000 |
|
Merchandise inventory, end |
565,000 |
|
Store supplies |
100,750 |
|
Office supplies |
150,210 |
|
Furniture and fixture |
830,500 |
|
Accounts payable |
450,000 |
|
Notes payable |
500,000 |
|
Sallie A. Perez, capital |
|
|
Sallie A. Perez, drawing |
380,000 |
|
Sales |
4,200,000 |
|
Sales returns and allowances |
130,050 |
|
Purchases |
2,840,500 |
|
Purchase discount |
230,000 |
|
Transportation in |
180,600 |
|
Store salaries |
360,400 |
|
Advertising |
140,500 |
|
Transportation out |
80,700 |
|
Office salaries |
240,800 |
|
Rent expense |
360,000 |
|
Other office expense |
50,540 |
|
Interest income |
1,800 |
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