Given the following account balances of MASK RIDER Co. for the year ended December 31,2020, prepare a Statement of Financial Position using the report form.Mask Rider, capitalBeg. BalancePOContribution30, d00DUE ON MAY 15, 2021Withdrawal15, 000Additional cortribution5, 000Net IncomeEnding Balance57, 450Property, Plant and EquipmentP 300, 000Accumulated Depreciation5, 000Accounts payableB, 110Uneamed income1, 395Cash44, 535Prepaid rent5, 000Salaries payable1, 000Lang-term note payable23. 000Accounts receivable575Merchandise Inventory15,345Utilities payable4. 00

The account balances are gjven for the year ended 31st December 2020 Required Statement of…

Mask Rider, capital Beg. Balance PO Contribution 30. 000 DUE ON MAY 15, 2021 Wthdrawal 15. 000 Addtional cortributon 5.000 Net Income Ending Balance 57, 450 Property. Piant and Equipment P 300, 000 Accumulated Depreciation 5, 000 Accounts payable B, 110 Uneamed income 1, 395 Cash 44, 535 Prepaid rent 5, 000 Salaries payable 1, 000 Long-term note payable 23 000 Accounts recelivable 575 Merchandise Inventory 15,345 unities payable 4. 000

Mask Rider, capital Beg. Balance PO Contribution 30. 000 DUE ON MAY 15, 2021 Wthdrawal 15. 000 Addtional cortributon 5.000 Net Income Ending Balance 57, 450 Property. Piant and Equipment P 300, 000 Accumulated Depreciation 5, 000 Accounts payable B, 110 Uneamed income 1, 395 Cash 44, 535 Prepaid rent 5, 000 Salaries payable 1, 000 Long-term note payable 23 000 Accounts recelivable 575 Merchandise Inventory 15,345 unities payable 4. 000

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 5PA: The following selected accounts and their current balances appear in the ledger of Clairemont Co....

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