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Question 42 Based on the following adjusted trial balance of Lyndon Company on December 31, 200C, the end of the accounting period P 67,075 70,000 176,500 Cash Note Recervable Accounts Receivable Allowance for Bad Debes Merchandise Iaventory, Jan. 1 Furmiture & Fixtures Accumulated Depreciation - Fum. & Fixt. Office Equipmet Accumulated Depreciation - Office Eapmt Note Payable 5,400 60900 34,100 3,100 15,500 1,500 20,000 94,750 265,000 Accounts Payable Leonard Captal Leonard Drawing Sales Sales Returns Sales Discout Purchases Freight in Purchase Retums Purchase discount 9,500 572,875 11,000 6,400 390,750 5,415 3,630 6,885 Salaries Expense Reat Expense Inwrnce expense Office supplies expene Rental Income 99 S50 24,000 5,250 2.200 5,000 Addimional informanion: Merchandise Iaventory, December 31, P 76,000

Question 42 Based on the following adjusted trial balance of Lyndon Company on December 31, 200C, the end of the accounting period P 67,075 70,000 176,500 Cash Note Recervable Accounts Receivable Allowance for Bad Debes Merchandise Iaventory, Jan. 1 Furmiture & Fixtures Accumulated Depreciation - Fum. & Fixt. Office Equipmet Accumulated Depreciation - Office Eapmt Note Payable 5,400 60900 34,100 3,100 15,500 1,500 20,000 94,750 265,000 Accounts Payable Leonard Captal Leonard Drawing Sales Sales Returns Sales Discout Purchases Freight in Purchase Retums Purchase discount 9,500 572,875 11,000 6,400 390,750 5,415 3,630 6,885 Salaries Expense Reat Expense Inwrnce expense Office supplies expene Rental Income 99 S50 24,000 5,250 2.200 5,000 Addimional informanion: Merchandise Iaventory, December 31, P 76,000

Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter8: Receivables
Section: Chapter Questions
Problem 8.18EX: Entries for bad debt expense under the direct write-off and allowance methods Seaforth International...
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Question 42 Based on the following adjusted trial balance of Lyndon Company on December 31, 200C, the end of the accounting period P 67,075 70,000 176,500 Cash Note Recervable Accounts Receivable Allowance for Bad Debts Merchandise Inventory, Jan. 1 Furmiture & Fixtures 5,400 60,900 34,100 Accumulated Depreciation - Furm. & Fixt. Office Equipment Accumulated Depreciation - Office Eapms Note Payable Accounts Payable Leonard Captal Leonard Drawing 3,100 15,500 1,500 20,000 94,750 265,000 9,500 Sales 572,875 Sales Returns Sales Discount 11,000 6,400 390,750 5,415 Purchases Freight in Parchase Returns Purchase discount Salaries Expense Rent Expense Insurance expense Office supplies expense 3,630 6,885 99 550 24,000 5,250 2,200 Rental Income 5,000 Additional informanion: Merchandise Inventory, December 31, P 76,000
Transcribed Image Text:Question 42 Based on the following adjusted trial balance of Lyndon Company on December 31, 200C, the end of the accounting period P 67,075 70,000 176,500 Cash Note Recervable Accounts Receivable Allowance for Bad Debts Merchandise Inventory, Jan. 1 Furmiture & Fixtures 5,400 60,900 34,100 Accumulated Depreciation - Furm. & Fixt. Office Equipment Accumulated Depreciation - Office Eapms Note Payable Accounts Payable Leonard Captal Leonard Drawing 3,100 15,500 1,500 20,000 94,750 265,000 9,500 Sales 572,875 Sales Returns Sales Discount 11,000 6,400 390,750 5,415 Purchases Freight in Parchase Returns Purchase discount Salaries Expense Rent Expense Insurance expense Office supplies expense 3,630 6,885 99 550 24,000 5,250 2,200 Rental Income 5,000 Additional informanion: Merchandise Inventory, December 31, P 76,000
How much is the ending Owner's Equity? P 341,125 P314,425 P 344,425 P 341,425 Od
Transcribed Image Text:How much is the ending Owner's Equity? P 341,125 P314,425 P 344,425 P 341,425 Od
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