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  • Listed Below Are Account Balances and Other Data For The

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    M Bilal Saleem
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    The document provides account balances and other financial data for The Book Wermz as of November 30, 2004. It includes asset accounts like cash, inventory, and equipment, liability accounts like accounts payable and notes payable, equity accounts like common stock, and income and expense accounts for the month of November. The company operates as a corporation and financial statements for the month should be prepared using the account balance data.

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    Listed Below Are Account Balances and Other Data for The

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    The document provides account balances and other financial data for The Book Wermz as of November 30, 2004. It includes asset accounts like cash, inventory, and equipment, liability accounts like accounts payable and notes payable, equity accounts like common stock, and income and expense accounts for the month of November. The company operates as a corporation and financial statements for the month should be prepared using the account balance data.

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    © All Rights Reserved
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    13 views1 page

    Listed Below Are Account Balances and Other Data For The

    Uploaded by

    M Bilal Saleem
    The document provides account balances and other financial data for The Book Wermz as of November 30, 2004. It includes asset accounts like cash, inventory, and equipment, liability accounts like accounts payable and notes payable, equity accounts like common stock, and income and expense accounts for the month of November. The company operates as a corporation and financial statements for the month should be prepared using the account balance data.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
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    Listed below are account balances and other data for The

    Listed below are account balances and other data for The Book Wermz at the close of
    November 30, 2004. Revenue and expense account balances are for the month of November.
    All amounts are dollars except shares of common stock. The Book Wermz operates as a
    corporation. Accounts payable ............... $ 6,131.77Accounts receivable ...............
    375.00Accumulated depreciation ........... 13,891.82Cash ..................... 12,307.99Contributed
    capital .............. 100,000.00Cost of goods sold .............. 30,937.32Depreciation expense
    ............. 817.20Dividends paid ................ 1,500.00Equipment ................. 57,650.00Income tax
    expense ............... 897.45Interest expense ............... 932.03Inventory ...................
    235,255.06Notes payable, current portion .......... 1,122.77Notes payable, long-term ............
    120,084.57Rent expense ................ 1,738.15Sales .................... 43,312.25Service revenues
    ................. 1,566.23Shares of common stock .............. 1,000Supplies ...................
    2,130.12Supplies expense ................ 2,411.53Wages expense ................ 4,697.35Wages
    payable ................ 1,150.68Required Use the account balances to produce an income
    statement, a statement of stockholders' equity, and a balance sheet for The Book Wermz in a
    spreadsheet. The financial statements should follow the examples illustrated in Chapter F4. The
    balance sheet should contain columns for November and October. October 31 balances should
    be obtained from data provided in the Chapter F3 spreadsheet problem. View Solution:
    Listed below are account balances and other data for The
    SOLUTION-- http://expertanswer.online/downloads/listed-below-are-account-balances-and-
    other-data-for-the/

    See Answer here expertanswer.online


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