Prepare Statement of Changes in Equity and Statement of Financial Position Problem #10The accounts of Ramon Woo Milk Products follow:Accounts PayableAccounts ReceivableAccumulated Depreciation-Office EquipmentAccumulated Depreciation-Store EquipmentCashWoo, CapitalCost of Goods SoldWoo, WithdrawalsGeneral ExpensesInterest ExpenseInterest PayableInventory, 1/1/2018P 16,95043,70022,45016,0007,89074,620?9,000116,7005,4001,10069,350Inventory, 6/30/2018Long-term Notes PayableOffice EquipmentPurchasesPurchase DiscountsPurchase Returns & Allows.Salaries PayableSales DiscountsSales Returns & Allows.SalesSelling ExpensesStore EquipmentSuppliesUnearned RevenuesP 65,52039,00058,680364,0001,9903,4002,84010,40018,030731,000132,90088,0005,10013,800

Statement of changes in equity:— It is the one of the financial statement that shows change in…

Problem #10 The accounts of Ramon Woo Milk Products follow: Accounts Payable Accounts Receivable P 16,950 43,700 Accumulated Depreciation- Office Equipment Accumulated Depreciation- Store Equipment Cash Woo, Capital Cost of Goods Sold Woo, Withdrawals General Expenses Interest Expense Interest Payable Inventory, 1/1/2018 22,450 16,000 7,890 74,620 ? 9,000 116,700 5,400 1,100 69,350 Inventory, 6/30/2018 Long-term Notes Payable Office Equipment Purchases Purchase Discounts Purchase Returns & Allows. Salaries Payable Sales Discounts Sales Returns & Allows. Sales Selling Expenses Store Equipment Supplies Unearned Revenues P 65,520 39,000 58,680 364,000 1,990 3,400 2,840 10,400 18,030 731,000 132,900 88,000 5,100 13,800

Problem #10 The accounts of Ramon Woo Milk Products follow: Accounts Payable Accounts Receivable P 16,950 43,700 Accumulated Depreciation- Office Equipment Accumulated Depreciation- Store Equipment Cash Woo, Capital Cost of Goods Sold Woo, Withdrawals General Expenses Interest Expense Interest Payable Inventory, 1/1/2018 22,450 16,000 7,890 74,620 ? 9,000 116,700 5,400 1,100 69,350 Inventory, 6/30/2018 Long-term Notes Payable Office Equipment Purchases Purchase Discounts Purchase Returns & Allows. Salaries Payable Sales Discounts Sales Returns & Allows. Sales Selling Expenses Store Equipment Supplies Unearned Revenues P 65,520 39,000 58,680 364,000 1,990 3,400 2,840 10,400 18,030 731,000 132,900 88,000 5,100 13,800

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 4.8C

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