Question

with t account create trial balance, income statement with multi step format, statement of changes equity and balance sheet and statement of statement of cash flows

all Equity Corman Stock SODOO BAI. 8 860 10000 50000 1 350000 50000 Retained Farmings 10000 401140 10000 Service Revenue 700000 Acc able 350000 70000 -- Uncollectible accou ............ 21000 350000 Allowance for doubt accounts 21000 21000 Depreciation 21000 3B 836 (836) 836 RES Equipment 8880

Answer 1

$ Amount Trial Balance Trial Balance Cash Accounts Receivable Net Fixed Asset $ Amount 4,01,140 3,50,000 8,024 Balance Sheet Balance Sheet Asset Cash Accounts Receivable Gross Asset (A) Depreciation (B) Net Asset( A-B) Total Asset Income Statement Income Statement $ Amount Service Revenue -7,00,000 Cost of Sales Gross Margin -7,00,000 Operating Expenses Uncollectable Account 21,000 Total Operating Expenses 21,000 Operating Income -6,79,000 Non Operating and other Depreciation 836 Total Non Operating 836 Net Income -6,78,164 4,01,140 3,50,000 8,860 -836 8,024 7,59,164 Common Stock Allowance for Doubtful Debts Retained Earnings -50,000 -21,000 - 10,000 Service Revenue Uncollectable Account Depreciation on Asset -7,00,000 21,000 836 Liabilities Common Stock Allowance for Doubtful Debts Retained Earnings Profit for the month Total Liabilities -50,000 -21,000 -10,000 -6,78,164 -7,59,164 Total Statement of Changes in Equity Opening Stock Issuance of Stock 50,000 Closing Stock 50,000