Using the information provided below: Worksheet for Bayview Best Bakery Year ended Dec 31, 2021 Accounts Trial
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Using the information provided below:
Worksheet for Bayview Best Bakery | Year ended Dec 31, 2021 | |||||||||
Accounts | Trial Balance | Adjustments | Income Statement | Balance Sheet | ||||||
DR | CR | DR | CR | DR | CR | DR | CR | |||
Bank | 10,000.00 | |||||||||
Supplies | 1,700.00 | |||||||||
Prepaid insurance | 2,450.00 | |||||||||
Equipment | 35,000.00 | |||||||||
AP - MacGregor | 800.00 | |||||||||
HST Payable | 8,060.00 | |||||||||
HST Recoverable | 104.00 | |||||||||
Bank Loan | 11,000.00 | |||||||||
J. Penochhi, Capital | 22,424.00 | |||||||||
J. Penochhi, Drawings | 30,000.00 | |||||||||
Revenue | 62,000.00 | |||||||||
Advertising Expense | 7,200.00 | |||||||||
Cell Phone Expense | 1,450.00 | |||||||||
Rent Expense | 14,400.00 | |||||||||
Utilities Expense | 1,980.00 | |||||||||
104,284.00 | 104,284.00 | |||||||||
· The company's fiscal period is 12 months starting on Jan 1, 2021
· The owner did not make any additional investment during the year of 2021
· At the end of the fiscal period, physical count revealed that the company used $800 worth of supplies in 2021.
· The 12 month insurance policy was purchased on Oct 1
· The company received two late invoices on Jan 5th , 2022:
1) Invoice for utilities for the amount of $225.75 from Enbridge.
2) Invoice for purchase of supplies from MacGregor Inc. for $300
Related Book For
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
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