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Question - Make a balance sheet and Income Statement for this:
Account Name
Amount (php)
ABC Company sold 200 pcs of table worth 2,500 each
Utility Expense
4,600
Selling Expense
90,000
Accounts Receivable
39,500
Short Term Loans Payable
5,000
Cost of Goods Sold
250,000
Common Stock
110,000
Salaries expense
25,300
Inventory
31,000
Prepaid Expenses
1,500
Interest Expense
10,500
Cash and Cash Equivalents
50,000
Retained Earnings
43,300
Advertising expense
8,250
Income Tax 30%
3,405
Rent Expense
100,000
Accounts Payable
20,900
Bonds Payable
275,000
Buildings
400,000
Equipment
Mortgage Payable
167,800
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