Accounting information systems' output is required by external and internal users for decision making. you are required to use the following trial balance to prepare financial statements suitable for external and internal users of information.
dr cr
1000 Cash 16,270,000
1300 Debtors 220,000
1400 Research fees receivable 400,000
1600 Supplies inventories 510,000
1800 prepaid insurance 27,500
2100 land 2,000,000
2200 Building 6,000,000
2300 Accumulated depreciated-building 50,000
2400 Equipment 7,200,000
2500 Accumulated depreciated-equipment 120,000
3400 Salaries and wages payable 60,000
3500 Interest payable 31,400
3700 services to be rendered for deposit-received 5,500,000
4000 Notes payable 6,500,000
5000 capital 20,000,000
6000 Revenue from services rendered 1,420,000
7000 salaries and wages expenses 660,000
7200 supplies expenses 90.000
7300 depreciation-expense-equipment 120,000
8000 Depreciation-expense-building 50,000
8100 Insurance expense 2,500
9000 Interest expense 31,4000
33,681,400 33,681,400
1.salaries and wages owing #40,000
2.Prepared insurance expenses 2,000
3. provide for company's income tax at 30%
4.provide 1%dividend on 20,000,000 ordinary issued shared capital.