REQUIRED:1. Compute for the capital balance at the start of the period.2. Prepare the closing entries at the end of the period.3. Prepare in good form the Statement of Comprehensive Income for the period.4. Prepare the report form Statement of Financial Position as of the end of the period.The post-closing trial balance of the business for the prior period is as follows:Cash 50,000Accounts receivable 150,000Accounts payable 120,000Rica Parejo, Capital ?The following is the summary of the business transactions’ for the current period:a. Total services rendered to clients amounted to 480,000. 20% of the services rendered are on cash basis and the balance is on open account.b. Total collections of accounts for the period amounted to 424,000.c. Total cash payments for the period are:Salaries 240,000Supplies 20,000Accounts payable 80,000
We offer the best custom paper writing services. We have done this question before, we can also do it for you.
Why Choose Us
- 100% non-plagiarized Papers
- 24/7 /365 Service Available
- Affordable Prices
- Any Paper, Urgency, and Subject
- Will complete your papers in 6 hours
- On-time Delivery
- Money-back and Privacy guarantees
- Unlimited Amendments upon request
- Satisfaction guarantee
How It Works
- Click on the “Place Your Order” tab at the top menu or “Order Now” icon at the bottom and a new page will appear with an order form to be filled.
- Fill in your paper’s requirements in the "PAPER DETAILS" section.
- Fill in your paper’s academic level, deadline, and the required number of pages from the drop-down menus.
- Click “CREATE ACCOUNT & SIGN IN” to enter your registration details and get an account with us for record-keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
- From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.
