mian Plc is a merchandise company that supplies technological goods to resellers. Its adjusted trial balance dated 31 December 2023, where accounts are reported in alphabetical order, is presented below. ADJUSTED TRIAL BALANCE - 31.12.2023 (Values in €) DEBIT CREDIT Accounts payables 62,700 Accounts receivables 405,500 Accumulated depreciation: equipment 207,500 Capital stock 875,000 Cash 405,300
mian Plc is a merchandise company that supplies technological goods to resellers. Its adjusted trial balance dated 31 December 2023, where accounts are reported in alphabetical order, is presented below. ADJUSTED TRIAL BALANCE - 31.12.2023 (Values in €) DEBIT CREDIT Accounts payables 62,700 Accounts receivables 405,500 Accumulated depreciation: equipment 207,500 Capital stock 875,000 Cash 405,300
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter22: End-of-fiscal-period Work For A Corporation
Section: Chapter Questions
Problem 1AP
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Darmian Plc is a merchandise company that supplies technological goods to resellers. Its adjusted
ADJUSTED TRIAL BALANCE - 31.12.2023 | ||
(Values in €) | DEBIT | CREDIT |
Accounts payables | 62,700 | |
405,500 | ||
Accumulated |
207,500 | |
Capital stock | 875,000 | |
Cash | 405,300 | |
Cost of goods sold | 590,700 | |
Depreciation expense: equipment | 90,000 | |
Dividends | 45,000 | |
Equipment | 900,000 | |
Finished goods inventories | 180,000 | |
Income taxes expense | 85,000 | |
Income taxes payables | 65,000 | |
Insurance expense | 48,200 | |
Interest expense | 4,500 | |
Interest payables | 4,500 | |
Maintenance expense | 25,000 | |
Notes payables | 180,000 | |
Prepaid rent | 30,000 | |
Rent expense | 163,500 | |
235,000 | ||
Revenues | 1,295,000 | |
Salaries expense | 58,000 | |
Salary payables | 8,000 | |
Unearned revenue | 180,000 | |
Unexpired insurance | 10,000 | |
Utilities expense | 77,000 | |
Utilities payables | 5,000 | |
TOTAL | 3,117,700 | 3,117,700 |
To answer question 1, you are required to do the following:
- Present the income statement for 2023, using an appropriate layout and subtotals.
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