7 . Baker Company had the following balances in its accounting records as of December 3 1...
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Question:
Baker Company had the following balances in its accounting records as of December :Assets Liabilities and Equity Cash $ Accounts Payable Accounts Receivable Inventory Common Stock Land Retained Earnings Total Total The following accounting events apply to Barker Companys fiscal year:May Made cash payment on accounts payable of $June Purchased $ inventory on account.August Sold $ worth of inventory for $ The customer paid $ in cash.Nov. Paid $ owed to the supplier.Dec. Received cash collections from accounts receivable amounting to $Incurred other operating expenses on account during the year that amounted to $Prepare s Income Statement and Balance Sheet for Baker Company.Note: SHOW YOUR WORK, ie the journal entries and the Taccount. Remember to use the proper format and headings for the statementsPrepare s Income Statement and Balance Sheet for Baker Company.Note: SHOW YOUR WORK, ie the journal entries and the Taccount. Remember to usethe proper format and headings for the statements.
Related Book For
Survey of Accounting
ISBN: 978-1259631122
5th edition
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
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