Reference no: EM133031466

Question - Nestle company reported the following income statement for the year ended June 30, 2018. Their financial figures are given below in dollor.

Suppose, Nestle incurred the following more transaction from July 1, 2018 to December 31, 2018.

1. Invested more $ 100,000 and other transactions for the month are:

2. Purchase Furniture for Cash 7,000.

3. Purchase Goods for Cash 2,000 and for Credit. 1,000 from Khalid Retail Store.

4. Acquired a building for $5,000 on cash.

5. Sold Goods (revenue) to Khan Brothers 12,000 and Cash Sales 5,000.

6. Owner withdrew of worth 2,000 for personal use.

7. Purchased land for $2,000 on credit.

8. Paid utility bills $ 250.

9. Paid Salaries Expense $2,000.

10. Bought furniture for $1,500 on credit.

Required - Considering the above given Income statement and transactions from July 1, 2018 to December 31, 2018 of Nestle company, and answer the following Question 1 to 3.

1. Make the journal entries, ledger and trial balance the transaction July 1 to December 31, 2018.

2. Prepare the closing entries of revenue and expense from July 1st to December 31.2018.

3. Make the balance sheet for year January, 2018 to December 2018.