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Managerial Accounting questions ask for help!

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Managerial Accounting questions ask for help!,Thank you and please send it to me before the due date . Thank you very much.,The following information is provided from the books of Kendo Sales for the year ended December 31, 2010. ACCOUNT BALANCE Cash $ 12,700 Accounts Receivable 117,200 Inventory 82,900 Equipment 100,000 Accumulated Depreciation ? Equipment 14,500 Accounts Payable 16,700 Note Payable * 42,000 Jack Hill, Capital 239,000 Jack Hill, Withdrawals 5,600 Sales 412,500 Sales Discounts 3,500 Cost of Goods Sold 291,800 Sales Salaries Expense 85,000 Rent Expense 12,000 Delivery Expense 4,200 Depreciation Expense 9,800 Other Information: *A payment is due on December 31, 2011 on the note payable. The payment will be $12,000, including $4,000 interest. Required: 1) Prepare a classified balance sheet. 2) On the following General Journal page, prepare the closing entries for the year ended December 31, 2010.

 

Paper#12817 | Written in 18-Jul-2015

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