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PERFORMANCE TASK for Application of SCI, SCE, and Worksheet Below is the adjusted balance of Buhaypa Hardware for the calendar year 2018 BUHAYPA HARDWARE Cash 130 115.00 Purchases 1 320.00 Notes Receivable 30 000.00 Freight-in 30 875.00 Purchase Returns and Accounts Receivable 98 750.00 2 585.00 Allowances Allowance for 4 835.00 Purchase Discount 20 000.00 Impairment Loss Merchandise 785 345.00 Sales Salaries 115 600.00 Inventory, 1/1 Prepaid Insurance Unused Supplies 18 000.00 6 000.00 Advertising Expense 3 750.00 Freight-out 12 260.00 Depreciation - Store Store Equipment 120 000.00 12 000.00 Equipment Accumulated Miscellaneous Selling Expenses Depreciation - Store Equipment Office Equipment 36 000.00 17 650.00 60 000.00 Office Salaries 65 900.00 Accumulated Depreciation – Office Equipment Accounts Payable Notes Payable 18 000.00 Rent Expense 48 000.00 371 535.00 Insurance Expense 50 000.00 Supplies Expense Depreciation - Office Equipment 48 000.00 Impairment Loss 9 000.00 8 650.00 Mr. Z, Capital 527 030.00 6 000.00 Mr. Z, Drawing 2 515.00 Miscellaneous General Sales 1 950 345.00 1 800.00 Expenses 4 020.00 Interest Income Sales Return 1 200.00 6 000.00 20 800.00 Interest Expense NOTE: Ending Inventory of Merchandise, 715 250 pesos Sales Discount

PERFORMANCE TASK for Application of SCI, SCE, and Worksheet Below is the adjusted balance of Buhaypa Hardware for the calendar year 2018 BUHAYPA HARDWARE Cash 130 115.00 Purchases 1 320.00 Notes Receivable 30 000.00 Freight-in 30 875.00 Purchase Returns and Accounts Receivable 98 750.00 2 585.00 Allowances Allowance for 4 835.00 Purchase Discount 20 000.00 Impairment Loss Merchandise 785 345.00 Sales Salaries 115 600.00 Inventory, 1/1 Prepaid Insurance Unused Supplies 18 000.00 6 000.00 Advertising Expense 3 750.00 Freight-out 12 260.00 Depreciation - Store Store Equipment 120 000.00 12 000.00 Equipment Accumulated Miscellaneous Selling Expenses Depreciation - Store Equipment Office Equipment 36 000.00 17 650.00 60 000.00 Office Salaries 65 900.00 Accumulated Depreciation – Office Equipment Accounts Payable Notes Payable 18 000.00 Rent Expense 48 000.00 371 535.00 Insurance Expense 50 000.00 Supplies Expense Depreciation - Office Equipment 48 000.00 Impairment Loss 9 000.00 8 650.00 Mr. Z, Capital 527 030.00 6 000.00 Mr. Z, Drawing 2 515.00 Miscellaneous General Sales 1 950 345.00 1 800.00 Expenses 4 020.00 Interest Income Sales Return 1 200.00 6 000.00 20 800.00 Interest Expense NOTE: Ending Inventory of Merchandise, 715 250 pesos Sales Discount

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 48CE
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Answer the Income Statement, Equity and Make a worksheet of this. thank you
PERFORMANCE TASK for Application of SCI, SCE, and Worksheet Below is the adjusted balance of Buhaypa Hardware for the calendar year 2018 BUHAYPA HARDWARE Cash 130 115.00 Purchases 1 320.00 Notes Receivable 30 000.00 Freight-in 30 875.00 Purchase Returns and Accounts Receivable 98 750.00 2 585.00 Allowances Allowance for 4 835.00 Purchase Discount 20 000.00 Impairment Loss Merchandise 785 345.00 Sales Salaries 115 600.00 Inventory, 1/1 Prepaid Insurance Unused Supplies 18 000.00 6 000.00 Advertising Expense 3 750.00 Freight-out Depreciation - Equipment 12 260.00 - Store Store Equipment 120 000.00 12 000.00 Accumulated Miscellaneous Selling Expenses Depreciation - Store Equipment Office Equipment 36 000.00 17 650.00 60 000.00 Office Salaries 65 900.00 Accumulated Depreciation – Office Equipment Accounts Payable Notes Payable 18 000.00 Rent Expense 48 000.00 371 535.00 Insurance Expense 50 000.00 Supplies Expense Depreciation – Office Equipment 48 000.00 Impairment Loss 9 000.00 8 650.00 Mr. Z, Capital 527 030.00 6 000.00 Mr. Z, Drawing 2 515.00 Miscellaneous General Sales 1 950 345.00 1 800.00 Expenses 4 020.00 Interest Income Sales Return 1 200.00 20 800.00 Interest Expense NOTE: Ending Inventory of Merchandise, 715 250 pesos Sales Discount 6 000.00 CS Scarned with CamScanner
Transcribed Image Text:PERFORMANCE TASK for Application of SCI, SCE, and Worksheet Below is the adjusted balance of Buhaypa Hardware for the calendar year 2018 BUHAYPA HARDWARE Cash 130 115.00 Purchases 1 320.00 Notes Receivable 30 000.00 Freight-in 30 875.00 Purchase Returns and Accounts Receivable 98 750.00 2 585.00 Allowances Allowance for 4 835.00 Purchase Discount 20 000.00 Impairment Loss Merchandise 785 345.00 Sales Salaries 115 600.00 Inventory, 1/1 Prepaid Insurance Unused Supplies 18 000.00 6 000.00 Advertising Expense 3 750.00 Freight-out Depreciation - Equipment 12 260.00 - Store Store Equipment 120 000.00 12 000.00 Accumulated Miscellaneous Selling Expenses Depreciation - Store Equipment Office Equipment 36 000.00 17 650.00 60 000.00 Office Salaries 65 900.00 Accumulated Depreciation – Office Equipment Accounts Payable Notes Payable 18 000.00 Rent Expense 48 000.00 371 535.00 Insurance Expense 50 000.00 Supplies Expense Depreciation – Office Equipment 48 000.00 Impairment Loss 9 000.00 8 650.00 Mr. Z, Capital 527 030.00 6 000.00 Mr. Z, Drawing 2 515.00 Miscellaneous General Sales 1 950 345.00 1 800.00 Expenses 4 020.00 Interest Income Sales Return 1 200.00 20 800.00 Interest Expense NOTE: Ending Inventory of Merchandise, 715 250 pesos Sales Discount 6 000.00 CS Scarned with CamScanner
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