Answer to Question #229478 in Accounting for Another you

Question

The following balances are lifted from the general ledger of Alpha Company as of July 31, 2021.

Accounts Payable -- 44,000.00

Accounts Receivable --150,000.00

Allowance for Doubtful Accounts -- 32,000.00

Alpha, Capital -- 670,000.00

Cash -- 455,000.00

Delivery Equipment -- 300,000.00

Furniture -- 31,000.00

Light and Water Expense -- 64,000.00

Loans Payable -- 130,000.00

Merchandise Inventory -- 110,000.00

Notes Payable -- 150,000.00

Prepaid Insurance -- 15,000.00

Rent Expense -- 128,000.00

Salaries Expenses -- 169,000.00

Salaries Payable -- 25,000.00

Service Revenue -- 330,000.00

Vat Payable -- 10,000.00

Note: Accounts Receivable is due on

December 31,2021.

Accounts and Notes Payable are due on

January 31,2022 and December 31,

2022 respectively. Bank loan is due in

18 months.

Requirement: Prepare a classified Statement of Financial Position in Report Form.

Answer 1

Dear Another you, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order