Below are the unadjusted account balances for Jasmine Inc. for March 31, 2022 Account Accounts payable...

Transcribed Image Text:

Below are the unadjusted account balances for Jasmine Inc. for March 31, 2022 Account Accounts payable Unearned revenue Interest expense Accumulated depreciation Retained Earnings Inventory Prepaid insurance Salaries expense Cash Accounts receivable Long term investments Common Shares. Equipment Cost of goods sold Unadjusted Account Balances 2 Long term loan 3 Sales 4 5 6 7 The accountant recorded the following adjusting entries at the end of the year: 8 Depreciation on the equipment 9 Salaries payable for 6 days of work 0 Interest expense 1 Insurance expense for the year 32 Income tax expense, not yet paid 33 All uneamed revenue obligations were fulfilled 34 35 36 Required- 37 Prepare a Statement of Financial Position, in good form, for 38 the year ended March 31, 2022 39 40 Amount 3,390 6,000 7,333 20,100 25,000 29,000 33,087 49,220 73,000 77,850 80,000 135,000 155,000 194,000 200,000 309,000 15,500 3,000 4,667 19,087 2,423 Below are the unadjusted account balances for Jasmine Inc. for March 31, 2022 Account Accounts payable Unearned revenue Interest expense Accumulated depreciation Retained Earnings Inventory Prepaid insurance Salaries expense Cash Accounts receivable Long term investments Common Shares. Equipment Cost of goods sold Unadjusted Account Balances 2 Long term loan 3 Sales 4 5 6 7 The accountant recorded the following adjusting entries at the end of the year: 8 Depreciation on the equipment 9 Salaries payable for 6 days of work 0 Interest expense 1 Insurance expense for the year 32 Income tax expense, not yet paid 33 All uneamed revenue obligations were fulfilled 34 35 36 Required- 37 Prepare a Statement of Financial Position, in good form, for 38 the year ended March 31, 2022 39 40 Amount 3,390 6,000 7,333 20,100 25,000 29,000 33,087 49,220 73,000 77,850 80,000 135,000 155,000 194,000 200,000 309,000 15,500 3,000 4,667 19,087 2,423

Answer rating: 100% (QA)

Jasmine Inc Statement of Financial Position March 31 2022 Assets Cash73000 Accounts receivable77850 ... View the full answer