The following trial balance has been extracted from the ledger of Mr. Cole, a sole trader: Trial balance as at 31 December, 2020 Particulars Debit ¢ Credit ¢ Sales 138,000 Purchases 82,350 Travel expenses 5,200 Drawings 7,800 Rent, rates & insurance 6,600 Postage and stationery 3,000 Advertisement 1,330 Salaries and wages 26,420 Bad debt 8,700 Investment Income 15,890 Debtors 12,120 Creditors 130 Cash in hand 1,700 Cash at bank 1,000 Inventory as at 1 January, 2020 11,800 Equipment at cost 58,000 Loan 19,000 Capital 53,000 226,020 226,020 Inventory at the close of business has been valued at ¢13,500 Required; Prepare an income statement for the year ending 31st December 2020 and a balance sheet as at that date.

On January 1, 2021, the general ledger of Big Blast Fireworks includes the following account balances:Accounts                                                Debit                  CreditCash                                                     $ 21,900Accounts Receivable                               36,500Allowance for Uncollectible Accounts                              $ 3,100Inventory                                                30,000Land                                                       61,600Accounts Payable                                                              32,400Notes Payable (8%, due in 3 years)                                   30,000Common Stock                                                                 56,000Retained Earnings                                                             28,500Totals                                                  $150,000             $150,000The $30,000 beginning balance of inventory consists of 300 units, each costing…

Below are the titles of a number of debit and credit accounts as they might appear on the statement of financial position of Hayduke ASA as of October 31, 2022. Select the Current Asset, Current Liability, Borderline, and Not a Current Item from among these debit and credit accounts. Debit Interest Accrued on Government Securities Notes Receivable Petty Cash Fund Government Securities Treasury Shares Current Asset Current Liability Borderline Not a Current Item Credit Share Capital-Preference 6% First Mortgage Bonds, due in 2029 Preference Dividend, payable Nov. 1,2022 Allowance for Doubtful Accounts Customers' Advances (on contracts to be completed next year)

On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances:Accounts                                                 Debit                    CreditCash                                                       $ 25,100Accounts Receivable                                 46,200Allowance for Uncollectible Accounts                                 $ 4,200Inventory                                                   20,000Land                                                          46,000Equipment                                                15,000Accumulated Depreciation                                                   1,500Accounts Payable                                                                28,500Notes Payable (6%, due April 1, 2022)                                50,000Common Stock                                                                    35,000Retained Earnings…