Prepare the following using the adjusted trial balance info below: Income Statement Retained Earnings Balance Sheet Cash
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Question:
Prepare the following using the adjusted trial balance info below:
- Income Statement
- Retained Earnings
- Balance Sheet
- Cash Flow Statements
- Closing Entries
Debit | Credit | ||
Cash | 41,226 | ||
Notes Receivable | 16,000 | ||
Accounts Receivable | 38,300 | ||
Less: Allowance for Doubtful Accounts | 5,164 | ||
Inventories | 78,546 | ||
Prepaid Insurance | 540 | ||
Prepaid Rent | 4,100 | ||
Investments in held-for-maturity securities | 52,000 | ||
Land held for future development | 45,500 | ||
Land | 100,000 | ||
Buildings | 675,000 | ||
Less: Accumulated Depreciation | 200,750 | ||
Capitalized Development Costs | 8,000 | ||
Goodwill | 76,700 | ||
Other Indentifiable Intangible Assets | 48,000 | ||
Notes Payable | 120,000 | ||
Accounts Payable | 8,040 | ||
Income Taxes Payable | 11,690 | ||
Property Taxes Payable | 6,600 | ||
Interest Payable | 1,200 | ||
Provisions Related to Pensions | 84,100 | ||
Bonds Payable | 300,000 | ||
Common Stock | 110,000 | ||
Preferred Stock | 100,000 | ||
Paid-in-Capital - Common Stock | 32,500 | ||
Paid-in-Capital - Preferred Stock | 10,000 | ||
Retained Earnings | 153,350 | ||
Accumulated Other Comprehensive Income | 5,000 | ||
Less: Treasury Stock | 12,750 | ||
Freight Out | 2,040 | ||
Sales Revenue | 117,520 | ||
Purchase Discouts | 398 | ||
Sales Returns and Allowances | 100 | ||
Purchase Return | 200 | ||
Sales Discounts | 400 | ||
Bad Debt Expense | 2,164 | ||
Utilities Expense | 11,342 | ||
Interest Expense | 5,700 | ||
Salaries & Wages Expense | 44,000 | 1,250 | |
Utilities Payable | |||
Depreciation Expense | 13,250 | ||
Federal Income Tax | 3,250 | ||
Cost of Goods Sold | 38,000 | ||
Purchases | 40,146 | ||
Sales | 12,000 | ||
Office Supplies Expense | 500 | ||
Rent Expense | 2,500 | ||
TOTAL | 1,319,908 | 1,319,908 |
Related Book For
Interpreting and Analyzing Financial Statements
ISBN: 978-0132746243
6th edition
Authors: Karen P. Schoenebeck, Mark P. Holtzman
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