- On The Wotk Canned Heat Limited Work Sheet For The Year Ended December 31 2020 Statement Of Comprehensive Income Statem 1 (95.54 KiB) Viewed 54 times
During 2020, Canned Heat's Shareholders invested $24,000 in exchange for common shares.
i need step by step explanation plus answer thanks.
On the WOTK Canned Heat Limited Work Sheet For the Year Ended December 31, 2020 Statement of Comprehensive Income Statement of Financial Position Account No. Account Titles Dr. Сг. Cr. Dr. 101 Cash 15.000 112 Accounts receivable 42,000 130 1.800 Prepaid insurance 140 25.500 FV-OCI investments 95.000 157 Equipment 25.600 167 Accumulated depreciation equipment 31,600 201 Accounts payable 7,200 212 Salaries and wages payable S0.000 301 Common shares 60.000 306 Retained earnings 142.000 400 Service revenue 13,200 622 Repairs and maintenance expense 28,800 711 Depreciation expense 18.800 722 Insurance expense 106,600 726 Salaries and wages expense 3,500 732 Utilities expense 6.800 801 Unrealized gain or loss-OCI 170.900 148.800 185,300 207.400 Totals 22.100 22.100 Net loss plus OCI 170,900 170.900 207,400 207,400