Refer to the trial balance for Asian Importers prepared in P3-9B. In addition to this information, note
Question:
P3-9B
Instructions
Prepare an income statement, statement of changes in equity, and statement of fi nancial position for the year. Record and post transactions; prepare trial balance.
Transcribed Image Text:
Goodwill Income tax expense Interest expense Land Merchandise inventory Accounts payable s 46,300 30,200 13,000 $ 7,600 14,000 2,150 42,500 74,250 19,750 67,750 12,200 3,950 37,050 370,000 Accounts receivable Accumulated depreciation-buildings Accumulated depreciation-equipment 3,600 Building% 39,500 0,050 Mortgage payable 6,000 Bank loan payable (due 2018) Cash Office expense Other current liabilities Prepaid insurance Retained earnings, February 1, 2014 Sales 32,900 244,200 Common shareS Cost of goods sold 1,850 10,900 Dividends Equipment
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ASIAN IMPORTERS LIMITED Income Statement Year Ended January 31 2015 thousands Revenues Sales 370000 ...View the full answer
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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