Q. Jan 31: John could not pay the maintenance expense worth $2000 and the expenses are...
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Q. Jan 31: John could not pay the maintenance expense worth $2000 and the expenses are still due/outstanding. Required: 1. Prepare the journal entries for the preceding transactions. (16pts) 2. Post the journal entries into their respective T accounts or Ledger accounts. Prepare the trial Balance as on January 31,2020. (16pts) 3. Prepare an income statement and a statement of changes in equity for the year ended January 31,2020 and a balance sheet at January 31,2020. (48pts). Q. Jan 31: John could not pay the maintenance expense worth $2000 and the expenses are still due/outstanding. Required: 1. Prepare the journal entries for the preceding transactions. (16pts) 2. Post the journal entries into their respective T accounts or Ledger accounts. Prepare the trial Balance as on January 31,2020. (16pts) 3. Prepare an income statement and a statement of changes in equity for the year ended January 31,2020 and a balance sheet at January 31,2020. (48pts).
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Related Book For
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
Posted Date:
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