Answer Happy

The Trial Balance TBA Limited contained the following accounts (alphabetically) at December 31, 2020, the end of company's fiscal year. III III III Accounts Balances ($) Accumulated Depreciation-Building.... 124000 Accumulated Depreciation-Equipment........ 37000. Additional Paid in Capital-Common Stock.. 220000 Auditors Fee 202000 Buildings.... 407000 Cash 169590 Common Stock ($2 each). 113000 Cost of Goods Sold 1097000 Equipment 214000 Interest Expense III MIL III III. III. Accounts Balances ($) Loss on Sale of Property 7670 Merchandise Inventory 227000 Mortgage Loan .... 111000 Rent Revenue 52000 Retained Earnings 52200 Salaries and Wages Expense 106000 Sales .... 1757000 Sales Returns and Allowances ...... 9640 Supplies 6300 20000.... III. Additional Data: 1. On December 31, 2020, Supplies on hand totaled $2500 2. Buildings are being depreciated @10 % under
The Trial Balance TBA Limited contained the following accounts (alphabetically) at December 31, 2020, the end of company's fiscal year. . . . . . . . Accounts .................................. ...... Balances ($).... III. ... Accounts ........................... Balances ($) Accumulated Depreciation-Building.......... 130000... ||| ....Loss on Sale of Property ..... 7490 Accumulated Depreciation Equipment........ 37000 III. ... Merchandise Inventory ................. 231000 Additional Paid in Capital-Common Stock.. 233000.... III. ... Mortgage Loan ............................ 109000 Auditors Fee ............................................... ... 203000....11 ..... Rent Revenue ........................... 51000 Buildings........................................................ 408000 III .... Retained Earnings .... 52700 Cash ..................................................... 202450 III. ... Salaries and Wages Expense ....... 106000 Common Stock ($2 each)............................. 129000.... II .... Sales ............................................ 1751000 Cost of Goods Sold 1084000.... ||| ....Sales Returns and Allowances ...... 9360 Equipment ......... 215000.... III. ... Supplies ......... 6400 Interest Expense . .............................................. 20000.... II ... ........... - - *** ..................... Additional Data: 1. On December 31, 2020, Supplies on hand totaled $2300 2. Buildings are being depreciated @10% under straight line method, Equipment is being depreciated @20% under declining balance method. 3. The company is under 20% tax bracket. 4. The company has declared $0.5 dividend per share. 5. Physical check on December 31, 2020 reveals that inventory actually on hand is $212000.
The Trial Balance TBA Limited contained the following accounts (alphabetically) at December 31, 2020, the end of company's fiscal year. - Accounts ............ ...... Balances ($).... III . . . . Accounts ...... .... Balances ($) Accumulated Depreciation-Building......... 130000.... ||1 ....Loss on Sale of Property III .................. 7490 Accumulated Depreciation-Equipment........ 37000.... III Merchandise Inventory ......... 231000 Additional Paid in Capital-Common Stock.. 233000.... III - III ... Mortgage Loan ............................... 109000 Auditors Fee ............................................. .. 203000.... III . ... Rent Revenue ..... Rent Revenue .............................. ... 51000 Buildings.... 408000.... .......................................... 408000 III Retained Earnings 52700 Cash .... .................................................. 202450.... III Salaries and Wages Expense 106000 Common Stock ($2 each)............................ 129000 .. III. ... Sales ..... 1751000 Cost of Goods Sold .................................. 1084000.... Il .... Sales Returns and Allowances ....... 9360 Equipment .................................................... 215000.... ||| .... Supplies .... 6400 Interest Expense 20000....11 ******** ... ......................... Additional Data: 1. On December 31, 2020, Supplies on hand totaled $2300 2. Buildings are being depreciated @10 % under straight line method, Equipment is being depreciated @20% under declining balance method. 3. The company is under 20% tax bracket. 4. The company has declared $0.5 dividend per share. 5. Physical check on December 31, 2020 reveals that inventory actually on hand is $212000. Prepare the followings: (a) Multistep income statement; (b) Stockholder_s Equity Statement (c) Classified Balance Sheet as at December 31, 2020