requirements.: 1. statement of profit and loss 2. owners Equity statement 3. financial positions statement. on 1
Question:
requirements.:
1. statement of profit and loss
2. owners Equity statement
3. financial positions statement.
on 1 December luxury line paid the salary for last month.
on 1 December luxury line purchase furniture, the discount 50 and transport 10 with no salvage value. it's being the depreciation 21.
on 4 December luxury line incurred 700 for advertising cost on Account.
on 5 December 5 collect from customer for trade Receivable 350. recorded 250 instead 350.
on December 16 customer returned one men wallet was sold on 13 December receipt no. 1004.
on 20 December luxury line owner withdrew 2500 to purchase graduated gift for his son.
on 24 December the owner of luxury line made an additional investment for 25000.
on 31 December luxury line obtained 25000 for loan must repaid within 11 months.
on 31 December luxury line purchased land 120000 paid 20000 and 15 years of mortgage loan 100,000. for the month of December 2019 luxury line consumer the total 750 of electricity. luxury line received the bill on 24 January 2020.
on 31 December luxury line accrued interest on long term borrowing 4830.
Expert Answer:
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
