In March 31, 2021, the end of the fiscal year, the preliminary Trial Balance of MSL...

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In March 31, 2021, the end of the fiscal year, the preliminary Trial Balance of MSL Manufacturing Company showed the following information: Accounts Payable Accounts Receivable 375,000 500,000 Accrued Expenses 143,500 Accum. Depreciation-Factory Building 37,000 Accum. Depreciation-Factory Equipment 78,000 Accum. Depreciation-Office Building 240,000 Accum Depreciation-Office Equipment 80,000 Advertising Expense 85,000 16,000 Amortization of Patents Cash in Bank 350,000 150,000 Commission Expense Depreciation Expense-Factory Building Depreciation Expense-Factory Equipt. Depreciation Expense-Office Building Depreciation Expense-Office Equipment Direct Labor Estimated Uncollectible Accounts Factory Building Factory Equipment Factory Insurance Expense Factory Supervision Factory Supplies Expense Factory Utilities Finished Goods Inventory, 3/31/21 Freight In Freight Out 83,000 78,000 50,000 37,000 250,000 28,300 363,500 450,000 62,000 74,000 21,000 95,000 12,500 22,650 18,000 Indirect Labor Interest Expense Land Limba, Capital Limba, Drawing Manuel, Capital Manuel, Drawing Miscellaneous Admin. Expenses Office Building Office Equipment Other Income Patent Prepaid Insurance Property Taxes-Factory Site Purchases - Raw Materials Purchase Discounts Raw Materials Inventory, 3/31/21 Repairs & Maintenance-Factory Salaries Expense Sales Sales Discounts Santos, Capital Santos, Drawing Uncollectible Accounts Expense Unused Supplies Work in Process, 3/31,21 Requirement #2: In good form, prepare the following: 2a. Schedule of Cost of Goods Manufactured the period ended March 31, 2021. 2b Statement of Comprehensive Income for the period ended March 31, 2021 2c. Schedule of Profit Distribution Equipt. 2d. Statement of Changes in Partners' Equity 2e. Statement of Financial Position as of March 31, 2021 26,000 15,200 415,000 800,000 300,000 600,000 300,000 26,000 400,000 200,000 275,000 219,000 50,000 14,000 173,000 13,650 78,000 31,000 370,000 2,330,000 18,300 600,000 300,000 28,000 Manuel, Santos, and Limba agreed to divide profit or loss by paying salaries of P20,000 per month each to Manuel and Limba, and P50,000 per month to Santos as the managing partner. Partners also will receive 10% of their initial capital contributions. Additionally, Santos will receive a bonus of 20% of profit after bonus. Any remaining balance will be shared in a ratio of 3:3:4 by Manuel, Santos, and Limba, respectively. 9,800 12,000 In March 31, 2021, the end of the fiscal year, the preliminary Trial Balance of MSL Manufacturing Company showed the following information: Accounts Payable Accounts Receivable 375,000 500,000 Accrued Expenses 143,500 Accum. Depreciation-Factory Building 37,000 Accum. Depreciation-Factory Equipment 78,000 Accum. Depreciation-Office Building 240,000 Accum Depreciation-Office Equipment 80,000 Advertising Expense 85,000 16,000 Amortization of Patents Cash in Bank 350,000 150,000 Commission Expense Depreciation Expense-Factory Building Depreciation Expense-Factory Equipt. Depreciation Expense-Office Building Depreciation Expense-Office Equipment Direct Labor Estimated Uncollectible Accounts Factory Building Factory Equipment Factory Insurance Expense Factory Supervision Factory Supplies Expense Factory Utilities Finished Goods Inventory, 3/31/21 Freight In Freight Out 83,000 78,000 50,000 37,000 250,000 28,300 363,500 450,000 62,000 74,000 21,000 95,000 12,500 22,650 18,000 Indirect Labor Interest Expense Land Limba, Capital Limba, Drawing Manuel, Capital Manuel, Drawing Miscellaneous Admin. Expenses Office Building Office Equipment Other Income Patent Prepaid Insurance Property Taxes-Factory Site Purchases - Raw Materials Purchase Discounts Raw Materials Inventory, 3/31/21 Repairs & Maintenance-Factory Salaries Expense Sales Sales Discounts Santos, Capital Santos, Drawing Uncollectible Accounts Expense Unused Supplies Work in Process, 3/31,21 Requirement #2: In good form, prepare the following: 2a. Schedule of Cost of Goods Manufactured the period ended March 31, 2021. 2b Statement of Comprehensive Income for the period ended March 31, 2021 2c. Schedule of Profit Distribution Equipt. 2d. Statement of Changes in Partners' Equity 2e. Statement of Financial Position as of March 31, 2021 26,000 15,200 415,000 800,000 300,000 600,000 300,000 26,000 400,000 200,000 275,000 219,000 50,000 14,000 173,000 13,650 78,000 31,000 370,000 2,330,000 18,300 600,000 300,000 28,000 Manuel, Santos, and Limba agreed to divide profit or loss by paying salaries of P20,000 per month each to Manuel and Limba, and P50,000 per month to Santos as the managing partner. Partners also will receive 10% of their initial capital contributions. Additionally, Santos will receive a bonus of 20% of profit after bonus. Any remaining balance will be shared in a ratio of 3:3:4 by Manuel, Santos, and Limba, respectively. 9,800 12,000