Question: Help me please, provide what's needed including notes. Presented below are accounts of Happy Kanin for year ended December 31, 2020. Prepare the statement of

Help me please, provide what's needed including notes.

Presented below are accounts of Happy Kanin for year ended December 31, 2020. Prepare the statement of financial position. Prepare the supporting notes. Cash P89,000 Accounts receivable 38,600 Allowance for Bad Debts 1600 Accrued Income 15000 Merchandise Inventory 50000 Prepaid Rent 30000 Supplies 5000 Equipment 45000 Accumulated Depreciation - Equipment 3000 Furniture and Fixture 30000 Accounts Payable 22000 Taxes Payable 8000 Accrued Expenses 3000 Mortgage Payable 180000 Loan Payable 70000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Help me please, provide what's needed including notes.. Presented below are accounts of Happy Kanin for year ended December 31, 2020. Prepare the statement of financial position. Prepare the...

1 2,000 Following is a pre-closing trial balance for Mitchell County Services at 12/31/20. Assume amounts are without donor restriction unless indicated otherwise. Debit Credit Cash 7,000 Cash - With...

need help with the closing entries! 800 5.400 6.000 Following is a pre-cosing trial balance for Mitchell County Services at 12/31/20. Assume amounts are without donor restriction unless indicated...

Help me please Question 1 Presented below is an income statement for Kinder Company for the year ended December 31, 2017. Kinder Company Income Statement For the Year Ended December 31, 2017 Net...

I am struggling at this moment. Help me please Question 1 Presented below is an income statement for Kinder Company for the year ended December 31, 2017. Kinder Company Income Statement For the Year...

Currently, I am struggling at this moment. Help me please Question 1 Presented below is an income statement for Kinder Company for the year ended December 31, 2017. Kinder Company Income Statement...

can someone please help me solve this? thank you. Statement of revenues expenditures, and Unassigned fund balance, 35 activities, 27 Codiflcation of Govermensal Accownting Governmental Accounting...

Instructions: Read the case in its entirety! Answer the questions at the end of the case study (before exhibits). Use the questions as a guideline only. Do not just answer the questions or number...

A two-way set-associative cache has lines of 16 bytes and a total size of 8 kbytes. The 64-Mbyte main memory is byte addressable. Show the format of main memory addresses.

What is the audit teams decision rule with respect to the relationship between the upper limit rate of deviation and the tolerable rate of deviation?

Principal Advanced repaid Rate $3800 June 17/2018 Oct. 1/2018 10%

Determine the major differences between U.S. GAAP and IFRS disclosure reporting requirements related to each separately reportable operating segment. Next, give your opinion as to whether either U.S....