Problem 8-3 (IAA) Relax Company provided the following information forthe ‘of preventing the statement of financial position ge December 81, 2019: Cosh 400,000 ‘Accounts receivable 00:009, ‘Allowance for doubiful accounts 50,009 faveatorie 1,000,000, Land 500,000, Bald 8.00,000, Ascamulated depreciation-building +2.000'000 Machinery ‘Accumulated depreciation-machinery 1,200,000, Feet deprecntioneqipment tame eeuecee set Prepare in good form a properly classified‘statement of financial position on December 1, 2019 with aupporting notes and computations. “ose “LISBILITIES AND SHAREHOLDERS’ HQUTTY “inane pes 139000 et ec scion epee ‘00 = Vesoe -Tradeacontsrcaale Accom ecb Noted Tatagile set Sera poems fomalas Siar Fer damesproblem 8-4 (IAA) summa COMPANY reve Sefecember 31, 2010°" % Blloviag acount blancs SN ponte assets aree¥e, ett alway ‘enum FOO Movado oa ezedinieentcinie o “Bow sedeharecapit Lane Mier 00 ahr fig no aa ropa Lie Saat emia PSonom sop Shines Senet ene Serene fond ‘stata oss ure sed encppect omer ed Porterenion Pao ent ee o ee io reat Bene ux ee ro] usasorguiry (ee tac hihi Esai ds dune am poo see separa “faba ee ae Neeereiable ‘Racers aos am Powe cea aot Pheracerud bites oe & e@e 8 to au cue unis Prepare a statement of financial postion, presented and aes dlnsoified according to genorally accepted accounting a ‘rinciples with appropriate notesSite Propr at aed iment Balding 5510000 +2500009 Zsa FE a eae peti Sot: tent Acoms pte ecrwntte Neeb-Staeapa Autti hare cp, 5000 es Dp Saino Sebel 10000 es e009 Hie soins HE Gamo SoonProblem a ayy) 1 Tan _ Karla Com, 2 od caren ear fio ‘ a8 wi 2 m0 Purchases ‘Miran tty 3 BS Purchase retarn Rentalincorae owen Selling expenmee: sxe Freight out = = Domesaeraaion rsun0 iy Depreciation tans ee fae UO . seen Dee uso aa oi eee co ‘Sale returns 254 slewan 4 Ea Salen dncnnta “sae ree ses Admrinintatine oo ‘gue outa note lex it eo ise Freight saton-oeeesaee ‘seecoo td Othe nome noma ; sence aut coe am Lneenealeet exe ae BE oneal of equipment al Deidre aoe eee inane ‘ame gana ge Unssonsaleofinvestment a sg Required: 7 Income satemect forthe year wsing the = * Hana meted wih erste Sane a 00 ). Prepare an income statement for the year using fea ta cea “natural” method with supperiog ote oneness =npeses Trae iinet Setpmeta Degen SSeducome atsder rane evry December 31 Instr Feary Noted Nat parca Pac Feo Nepuciee Sates Daren Digestion -sereeaipment Draesiaon =o srt N01, se ineRonald Compeny prepared the following statement forthe conat peat Salee , 7120000 Naultceame © ss0.00 Increase in inventorica 30000 7500000 Eotafvoch ta 3 assy Cones eradoncld: Socrincent © 1.909 encrymansfcingcala 300000 ses | Depreciation of factory building 280,000, Pete 200,000 Freight on purchaser 220009 5,800,000 Rainn ini 000 ess te 1 eae ee) a ae ‘Nat income ‘Tome Purr deserts omco Interest revenue a [Note Net saan or Teal 1an020 a Ochre lala CBs felt erat nd ovance ao _ som Eco | Operating income 1,740,000 [Note Cont of goods sald Administrative expences 340,000, i Eeling pense Bon Retciet ‘Income tax me Lia ‘Gootsmalbletorae Netinoome 1.000000 poor mal Inveatre Januar ai ai bumtaee ae game puna i Somat Sao feel $5000) soa lever Doser 3 rn scan Fey rgte sao Coty Sao Pentel _i2iao —_2maeo