حل واجب محاسبة

This is the assignment #2, which equals 10% of the total grade.

Use the data given in the Excel Sheet to prepare:

1. Income Statement

2. Financial Position

ABCV. Corp
31-Dec-16
Adjusted Trial Balance
(in thousands)
Cash
Accounts Receivable
Inventory
Prepaid Insurance
Supplies
Equipment
Accumulated Depreciation, Equipment
Building
Accumulated Depreciation, Building
Trucks
Accumulated Depreciation, Truck
Patents
Accounts Payable
Notes Payable
Wages Payable
Common Stock
Preferred Stock
Additional Paid-in Capital
Retained Earnings
Dividends
Treasury Stock
Sales Revenue
Gain on Sale of Land
Depreciation Expense, Admin. Portion of Building
Depreciation Expense, Sales portion of Building
Depreciation Expense, Delivery Truck (selling)
Depreciation Expense, Equipment (admin)
Sales Discounts
Sales Returns and Allowances
Cost of Goods Sold
Supplies Expense (selling)
Insurance Expense (admin)
Debit
2,300
3,100
5,600
500
100
13,000
Credit
7,000
28,000
10,000
22,000
4,000
2,400
4,160
10,000
553
500
1,000
14,000
27,806
3,000
1,000
12,400
600
450
750
200
150
25
75
6,100
3
5
Bad Debt Expense (selling)
Advertising Expense (seling)
Amortization Expense, Patent (admin)
Wages Expense (selling)
Wages Expense (admin)
Interest Expense
Income Tax Expense
7
2
12
450
130
2,000
660
92,019
92,019