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 Accounts receivable 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
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 |
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
