Chart Accounting Assingment Help With Solution
Chart of Accounts, Single step income statement, multiple step income statement, balance sheet, statement of retained earnings post closing income statement and post closing balance sheet based off the information from excel worksheet and it has to be in an Excel worksheet as well.
The net income for the shop is $281,000
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|Account Number||Account Discription||Debit||Credit|
|110||Land (used for truck storage)||$80,000.00|
|115||Long – Term Investment in Stock||$1,50,000.00|
|116||Merchandise Inventory (plants and sprinkler parts)||$92,000.00||$5,200.00|
|117||Notes Recievable (due in 6 months)||$5,100.00|
|119||Short – Term Investments||$89,000.00|
|203||Mortgage Payable ($9,2700 due this year)||$9,600.00|
|204||Notes Payable (due in 3 months)||$2,000.00|
|205||Salaries and Wages Payable|
|207||Income Tax Payable|
|301||Common Stock, $1 par value||$1,700.00|
|302||Paid in Capital in excess of Par Value||$1,75,000.00|
|303||Retained Earnings (beginning balance)|
|401||Gain on Sale of Tools|
|502||Cost of Goods Sold||$3,75,900.00|
|504||Income Tax Expense||$9,600.00|
|507||Salaries and Wages Expense||$35,300.00|
|104-1||Accumulated Depreciation – Tools||$1,16,000.00|
|105-1||Accumulated Depreciation – Trucks||$92,700.00|
|400-1||Sales Returns and Allowances||$12,500.00||$7,91,000.00|
Product Code :Acc30
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