Please provide the solution to the problem in the URL below

Please provide the solution to the problem in the URL below:

https://www.chegg.com/homework-help/Introduction-to-Financial-Accounting-11th-edition-chapter-3-problem-40P-solution-9780133251036

Solution

Income statement balance sheet Sales 77250 Capital 30000 Cash 44250 Inventory calc Less COGS 45000 Res and earnings 44850 Accounts rec 2200 Op 77800 Gorss Profit 32250 Accounts payble 52000 Inventory 73800 Add Purchase 41000 Less - Accu Dep. 6150 Prepaid rent 2000 Less COGS 45000 Exp. P & L sep. 10000 Store equipment 20750 CL bal 73800 Rent exp. 2000 Advt 3000 Total 143000 143000 MIS exp. 8000 Wages 9000 Dep. 250 22250 1 Purchase ac Dr 41000 Net Profit 10000 To AP 41000 ( Pur on credit ) 2 Cash Dr 74250 To Sales 74250 ( sales in cash ) 3 AP Dr 29000 To cash 29000 ( Payment to creditor s) 4 AR Dr 3000 To Sales 3000 ( sales on credit to debtors) 5 Advt dr 3000 To cash 3000 ( cash exp. For advt ) 6 Cash Dr 6000 To AR 6000 ( rec from debtors ) 7 MISC Exp. Dr 8000 To cash 8000 ( misc exp in ash ) 8 Rent wexp. Dr 2000 To Prepaid rent 2000 ( rent of sep booked from prepaid ) 9 Dep. 250 To Accm Dep. 250 ( store eq dep for sep ) 10 Accm Dep. 250 To store eq 250 ( value of store eq reduced and accm dep a/c bal also recuded ) Dr Cr Dr Cr Cash A/c Purchase Ac OP bal 13000 By Accounts payble 29000 To Ap 41000 By sales 74250 By MISC exp. 8000 By Accounts rec 6000 By wages 9000 BY Advt exp. 3000 Closing Bal 44250 Total 93250 Total 93250 Accounts rec A/c Op bal 5200 By cash 6000 To sales 3000 Closign bal 2200 Total 8200 Total 8200 Sales ac Inventory Ac BY cash 74250 OP bal 77800 BY accounts rec 3000 MISC exp. To Cash 8000 To P L 8000 Prepaid rent OP bal 4000 BY rent a/c 2000 Wages Ac Closing Bal 2000 To cash 9000 To P L 9000 Total 4000 Total 4000 Rent ac To Prepaid Rent 2000 To P L: 2000 Store equipment OP bal 21000 by Accm Dep 250 Dep Ac Closing bal 20750 TO Accumulated Dep 250 To PL 2000 Total 21000 Total 21000 Advertising Ac To cash 3000 To P L 3000 Accumulated Dep. To Store Eqp 250 OP bal 6150 By Dep 250 Closing bal 6150 Total 6400 6400 Accounts payble To cash 29000 OP Bal 40000 Closing bal 52000 By Purchase 41000 Total 81000 81000 Paid in capital Closing bal 30000 Op Balance 30000 Retained earnings OP bal 44850