Hi, I need help creating a balance sheet, profit and loss statement along with t
ID: 2486398 • Letter: H
Question
Hi, I need help creating a balance sheet, profit and loss statement along with the completed bank reconciliation using the information below. Thanks.
Journal Entries
Dec 1. Common stock
3740
Cost of asset
40
Cash
3780
.
Dec 1. Notes payable
2150
Interest payable
160
Supplies- Other assets.
2310
.
Dec 1. Prepaid Insurance
1680
Cash
1680
.
Dec 1. Rent Expense
1800
Prepaid rent
1800
Cash
3600
.
Supplies
800
Sales tax payable
60
Accounts payable
860
.
Dec 19. Cash.
180
Dividends Income.
180
No journal entry is required.
.
Dec 28. Cash
8000
Assets disposed.
8000
Depreciation costs.
13
Costs of assets
13
.
Dec 28. Cash
10385
Common Stock.
10385
.
Dec 29. Dividends declared
2200
Cash.
2200
.
Dec 30. Cash
1935
Sales.
1800
Sales Tax Payable.
135
.
Dec 30. Accounts payable.
860
Cash.
860
PART A. Siesta Company Trial Balance.
ACCT #
DR. ACCT NAME.
CR. ACCT NAME.
Dr.
Cr.
101
Cash
122200
151
Pallet Jack
8500
161
Fork Lift.
26300
171
Packaging machine
8700
105
Inventory
8000
104
Accounts Receivable
6600
307
Common Stock
153500
400
Sales.
18800
220
Utilities payable.
8000
180300
180300
Dec 1. Common stock
3740
Cost of asset
40
Cash
3780
Explanation / Answer
Due to non-availability of details related to purchases, closing inventory, other expenses & income the balance sheet and statement of profit and prepared is incomplete.
Balance Sheet Liabilities $ Assets $ Common Stock 1,53,500 Pallet Jack 8,500 Utilities payable 8,000 Fork lift 26,300 Packaging machine 8,700 Net Profit 10,800 Accounts receivables 6,600 Cash 1,22,200 Total 1,72,300 Total 1,72,300Related Questions
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