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Alto and Corta

The document contains financial information for Alto and Corta including assets, liabilities and equity amounts as of June 1, 2021. It shows opening balances, adjustments, and closing balances for various accounts.

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Anonn
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40 views2 pages

Alto and Corta

The document contains financial information for Alto and Corta including assets, liabilities and equity amounts as of June 1, 2021. It shows opening balances, adjustments, and closing balances for various accounts.

Uploaded by

Anonn
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

Cash 450,000

Accounts Receivable 180,000


Merchandise Inventory 270,000
Equipment 125,000
Allowance for Uncollectible Accounts 10,000
Accounts Payable 105,000
Notes Payable 90,000
Alto, Capital 820,000

Cash 520,000
Corta, Capital 520,000

Compund adjustment of alto Compund closing entry of alto

Allowance for Uncollectible Accounts 5,000 Allowance for Uncollectible Ac


Merchandise Inventory 30,000 Accounts Payable
Alto, Capital 35,000 Notes Payable
Cash
Accumulated Depreciation 30,000 Accounts Receivable
Alto, Capital 25,000 Merchandise Inventory
Equipment ` 55,000 Equipment

Alto and Corta


Statement of financial position
June 1, 2021
und closing entry of alto

ance for Uncollectible Accounts 10,000


nts Payable 105,000
90,000
450,000
Accounts Receivable 180,000
Merchandise Inventory 270,000
Equipment 125,000

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