Waterway Industries had the following accounts and balances: Accounts payable $ Equipment $ 30000 35400 Accounts receivable 5450 Land 35700 Buildings Unearned service 9500 revenue Cash 15250 Total stockholders' ? equity

Waterway Industries had the following accounts and balances: Accounts payable $ Equipment $ 30000 35400 Accounts receivable 5450 Land 35700 Buildings Unearned service 9500 revenue Cash 15250 Total stockholders' ? equity

Name: Waterway Industries had the following accounts and balances:Accounts
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Description: Waterway Industries had the following accounts and balances:Accounts payable$Equipment3000035400Accounts receivable5450Land35700Buildings?Unearned service9500revenueCash15250Total stockholders'?equityIf total stockholder's equity is $ 90700, what is

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Q3: Following is the trial balance of Dhofar Company for the year ended 31st December 2020: Account Debit Credit Owners Equity 48000 Accounts Receivable 17000 Accounts Payable 20000 Notes Payable 4000 Notes Receivable 22000 Bank 38000 4000 Salary expenses 24000 Rent 9000 3000 Insurance expenses 6000 Other Income 14000 Machinery 52000 Buildings 63000 Loan 38000 Sales 194000 Purchases 44000 Sales Return 5000 Purchase Return 24000 Opening Stock 69000 Total 349000 349000 Other information is given: Closing stock is 12000 OMR. Depreciation charges for Building is 10% and Machinery is 20% Required: Income statement as on 31.12.2020 Balance sheet as on 31.12.2020
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