A B E G Note: Be sure to fill in all of the yellow cells for...
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A B E G Note: Be sure to fill in all of the yellow cells for the financial statements. Use the amounts in the adjusted trial balance to create your income statement. The order of the accounts within each section does not matter. Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Pane in the Glass Company Income Statement For Year Ended December 31, 2023 Total Operating Expenses Operating Income Other Items Income Before Tax Net Income Trial Balance and Adjustments Instructions: Use the data provided to complete your income statement. Do not input data into this tab. Accounts General Ledger Number Title Debit Credit DO NOT 100 Cash 453,834,590 EDIT THIS 110 Accounts Receivable 62,543,000 115 Allowance for Bad Debts 3,038,620 TAB 120 Inventory 27,684,000 130 Notes Receivable 200,000 135 Accumulated Depreciation 74,940,000 140 Equipment 55,840,280 160 Buildings 31,000,000 170 Land 22,691,600 180 Patents 170,000 185 Accumulated Amortization 53,000 190 Interest Receivable 3,000 195 Prepaid Insurance Expense 200 Accounts Payable 205 Unearned Rent Revenue 70,064,950 31,500 300 Common Stock 305 APIC - Common Stock 340 Retained Earnings 120,010,460 267,638,060 74,230,000 65,421,000 400 Sales Revenue 410 Interest Revenue 3,000 405 Rent Revenue 31,500 415 Loss on Sale of Equipment 7,000 500 Cost of Goods Sold 6,350,000 510 Depreciation Expense 2,556,000 518 Amortization Expense 3,000 520 Bad Debt Expense 1,801,620 540 Salaries Expense 8,750,000 560 Insurance Expense 599 Income Tax Expense 600 Dividends 20,000 2,000,000 8,000 Difference Total 675,462,090 675,462,090 Remember: Total debits should eqal total credits, if these are not equal review your journal entries and t-accounts. A B E G Note: Be sure to fill in all of the yellow cells for the financial statements. Use the amounts in the adjusted trial balance to create your income statement. The order of the accounts within each section does not matter. Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Pane in the Glass Company Income Statement For Year Ended December 31, 2023 Total Operating Expenses Operating Income Other Items Income Before Tax Net Income Trial Balance and Adjustments Instructions: Use the data provided to complete your income statement. Do not input data into this tab. Accounts General Ledger Number Title Debit Credit DO NOT 100 Cash 453,834,590 EDIT THIS 110 Accounts Receivable 62,543,000 115 Allowance for Bad Debts 3,038,620 TAB 120 Inventory 27,684,000 130 Notes Receivable 200,000 135 Accumulated Depreciation 74,940,000 140 Equipment 55,840,280 160 Buildings 31,000,000 170 Land 22,691,600 180 Patents 170,000 185 Accumulated Amortization 53,000 190 Interest Receivable 3,000 195 Prepaid Insurance Expense 200 Accounts Payable 205 Unearned Rent Revenue 70,064,950 31,500 300 Common Stock 305 APIC - Common Stock 340 Retained Earnings 120,010,460 267,638,060 74,230,000 65,421,000 400 Sales Revenue 410 Interest Revenue 3,000 405 Rent Revenue 31,500 415 Loss on Sale of Equipment 7,000 500 Cost of Goods Sold 6,350,000 510 Depreciation Expense 2,556,000 518 Amortization Expense 3,000 520 Bad Debt Expense 1,801,620 540 Salaries Expense 8,750,000 560 Insurance Expense 599 Income Tax Expense 600 Dividends 20,000 2,000,000 8,000 Difference Total 675,462,090 675,462,090 Remember: Total debits should eqal total credits, if these are not equal review your journal entries and t-accounts.
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