Required Income Statement Statement of Owner’s Equity Balance Sheet
Question No.6
The following data of HASF Company is available with you. You are required to prepare the followings.
|
Particulars |
Debit |
Credit |
|
CASH |
100,000 |
|
|
INVENTORY |
124,500 |
|
|
ACCOUNTS RECEIVABLES |
12,000 |
|
|
SHORT TERM INVESTMENT |
25,000 |
|
|
FURNITURE |
100,000 |
|
|
BUILDING |
500,000 |
|
|
UNEARNED REVENUE |
|
27,000 |
|
ACCOUNTS PAYABLE |
|
9,000 |
|
ACC.DEP.PLANT-FURNITURE |
|
5,000 |
|
ACC.DEP.BUILDING |
|
6,000 |
|
EQUITY |
|
200,000 |
|
CONSULTANCY REVENUE |
|
650,000 |
|
REPAIR EXPENSE |
2,000 |
|
|
RENT EXPENSE |
3,500 |
|
|
INSURANCE EXPSNES |
1,000 |
|
|
OTHER GENERAL EXPNSE |
1,200 |
|
|
UTILITY EXPENSE |
6,000 |
|
|
SALARIES EXPENSE |
10,000 |
|
|
INTEREST EXPENSE |
800 |
|
|
|
11,000 |
|
|
SALARIES PAYABLE |
|
2,000 |
|
TOTAL |
897,000 |
897000 |
Required
- Income Statement
- Statement of Owner’s Equity
- Balance Sheet
Financial statements: Financial statements are condensed summary of transactions communicated in the form of reports for the purpose of decision making.
Prepare income statement:
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