The gardening store Plant Native Plant Ltd. (PNP) has the following financial information as at at...

  

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The gardening store Plant Native Plant Ltd. (PNP) has the following financial information as at at December 31, 2021: Account Accounts payable Bank loan payable (long-term) Cash Common shares issued during year Common shares at Jan 1, 2021 Equipment (net) Income tax expense Operating expenses Land Retained Earnings at Jan 1, 2021 Service revenue Supplies Salaries payable Amount $ 18,500 47,000 17,000 20,000 75,000 252,000 9,800 312,000 54,800 40,000 443,000 11,700 13,800 4 Requirement 1: Provide the following information for PNP Ltd. per December 31, 2021 in the blanks below. Enter the numbers in plain format (no $-sign, comma or spaces). Blank #1: Amount of total assets Blank #2: Amount of total liabilities Blank #3: Amount of net income Requirement 2: For the following accounts, state on which of the two financial statements, Income Statement or Balance Sheet, these accounts can be found. Enter either • I/S (for Income Statement) . B/S (for Balance Sheet) Blank #4: Cash Blank #5: Service revenue 4 Blank #6: Common shares The gardening store Plant Native Plant Ltd. (PNP) has the following financial information as at at December 31, 2021: Account Accounts payable Bank loan payable (long-term) Cash Common shares issued during year Common shares at Jan 1, 2021 Equipment (net) Income tax expense Operating expenses Land Retained Earnings at Jan 1, 2021 Service revenue Supplies Salaries payable Amount $ 18,500 47,000 17,000 20,000 75,000 252,000 9,800 312,000 54,800 40,000 443,000 11,700 13,800 4 Requirement 1: Provide the following information for PNP Ltd. per December 31, 2021 in the blanks below. Enter the numbers in plain format (no $-sign, comma or spaces). Blank #1: Amount of total assets Blank #2: Amount of total liabilities Blank #3: Amount of net income Requirement 2: For the following accounts, state on which of the two financial statements, Income Statement or Balance Sheet, these accounts can be found. Enter either • I/S (for Income Statement) . B/S (for Balance Sheet) Blank #4: Cash Blank #5: Service revenue 4 Blank #6: Common shares

Answer rating: 100% (QA)

Requirement 1 Blank 1 Amount of total assets Total Assets Cas... View the full answer