prepear income statement and balancesheet

214 CHAPTER 6 Financial Statement P6-5 Below are the account balances from HO Company for the year 20X1 after adjusting but before ing entries in alphabetical order. All accounts have normal balances. You are required to prepare a p statement of financial position and income statement for the company. TL 21.100 43.390 1.610 4.800 200 Account Name Accounts Payable Accounts Receivable Accumulated Depe-Office Building Accumulated Depr-Store Equipment Allowance for Decline in Value of Inventories Bank Loan Cash Cost of Goods Sold Delivery Expense (freight out) Depreciation Expense-Office Building Depreciation Expense-Store Equipment Insurance Expense Interest Expense Loss on Sale of Equipment Loss on Decline of Inventories Merchandise Inventory Miscellaneaus General Expense Miscellaneaus Selling Expense Office Building Office Rent Expense Office Salaries Prepaid Insurance Prepaid Rent Retained Earnings Salaries Payable Sales (Sales Revenue) Sales Discounts Sales Returns and Allowances Sales Salaries 15.000 13.200 195.800 5.300 950 1.710 1.540 1.200 1.000 200 53.500 1.320 860 24.600 6.000 11.600 5.360 9.500 75.620 360 350.000 3.500 1.500 26.200 50.000 10.900 5.420 720 27.180 27.180 Share Capital Store Equipment Supplies Supplies Expense Tax Expense Taxes Payable 214 CHAPTER 6 Financial Statement P6-5 Below are the account balances from HO Company for the year 20X1 after adjusting but before ing entries in alphabetical order. All accounts have normal balances. You are required to prepare a p statement of financial position and income statement for the company. TL 21.100 43.390 1.610 4.800 200 Account Name Accounts Payable Accounts Receivable Accumulated Depe-Office Building Accumulated Depr-Store Equipment Allowance for Decline in Value of Inventories Bank Loan Cash Cost of Goods Sold Delivery Expense (freight out) Depreciation Expense-Office Building Depreciation Expense-Store Equipment Insurance Expense Interest Expense Loss on Sale of Equipment Loss on Decline of Inventories Merchandise Inventory Miscellaneaus General Expense Miscellaneaus Selling Expense Office Building Office Rent Expense Office Salaries Prepaid Insurance Prepaid Rent Retained Earnings Salaries Payable Sales (Sales Revenue) Sales Discounts Sales Returns and Allowances Sales Salaries 15.000 13.200 195.800 5.300 950 1.710 1.540 1.200 1.000 200 53.500 1.320 860 24.600 6.000 11.600 5.360 9.500 75.620 360 350.000 3.500 1.500 26.200 50.000 10.900 5.420 720 27.180 27.180 Share Capital Store Equipment Supplies Supplies Expense Tax Expense Taxes Payable