Lecture - Worksheet Manufacturing

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School
Western University **We aren't endorsed by this school
Course
BIO 1000
Subject
Accounting
Date
May 20, 2023
Pages
3
Uploaded by maxxtey on coursehero.com
23/11/2022 1 M e r c h a n d i s i n g C o m p a n y W o r k s h e e t a n d F i n a n c i a l S t a t e m e n t P r e p a r a t i o n P o l y t e c h n i c U n i v e r s i t y o f t h e P h i l i p p i n e s C o l l e g e o f A c c o u n t a n c y a n d F i n a n c e L e a n d r o C . F u a , M B A , C P A F a c u l t y A s s i s t a n t P r o f e s s o r Debit Credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 Office Supplies 9,300.00 Store Supplies 8,231.00 Merchandise Inventory, beg 98,500.00 Prepaid Insurance 6,083.00 Prepaid Rent 25,200.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Salaries Expense 53,000.00 Office Salaries Expense 61,000.00 972,773.00 972,773.00 LEPTOWS MECHANDISING Trial Balance For the Year Ended December 31, 2016 Data for Adjustments 1. Merchandise Inventory at the end of the year is P84,400 2. Office supplies used amounted to P3,450 Unused store supplies amounted to P6,000 3. 25% of the Prepaid Rent is used as of the end of the year Half of the Prepaid Insurance has expired 4. Office Equipment were depreciated at 10% per year Store Equipment has a useful life of 5 years 5. Accrued Expenses for Utilities - P4,320; Store Salaries - P3,500; Interest - P16,250 6. Allowance of Uncollectible accounts is to be 10% of Receivables debit credit debit credit debit credit debit credit ADJUSTMENTS credit debit TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash Accounts Receivable Allowance for Bad Debts Office Supplies Store Supplies Merchandise Inventory, beg Prepaid Insurance Prepaid Rent Office Equipment Accumulated Depreciation - Office Equipment Store Equipment Accumulated Depreciation - Store Equipment Accounts Payable Notes Payable Salaries Payable Utilities Payable Interest Payable Baha, Capital Baha, Drawing Income Summary Purchases Freight-In Purchase Returns & Allowances Purchase Discount Sales Sales Returns & Allowances Sales Discount Store Supplies Expense Office Supplies Expense Store Salaries Expense Office Salaries Expense Rent Expense - Store Depreciation Expense - Office Equipment Depreciation Expense - Store Equipment Utilities Expense - Office Bad Debts Expense Insurance Expense Interest Expense ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 Office Supplies 9,300.00 Store Supplies 8,231.00 Merchandise Inventory, beg 98,500.00 Prepaid Insurance 6,083.00 Prepaid Rent 25,200.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable Utilities Payable Interest Payable Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense Office Supplies Expense Store Salaries Expense 53,000.00 Office Salaries Expense 61,000.00 Rent Expense - Store Depreciation Expense - Office Equipment Depreciation Expense - Store Equipment Utilities Expense - Office Bad Debts Expense Insurance Expense Interest Expense 972,773.00 972,773.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 Office Supplies 9,300.00 Store Supplies 8,231.00 Merchandise Inventory, beg 98,500.00 Prepaid Insurance 6,083.00 Prepaid Rent 25,200.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable Utilities Payable Interest Payable Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense Office Supplies Expense Store Salaries Expense 53,000.00 Office Salaries Expense 61,000.00 Rent Expense - Store Depreciation Expense - Office Equipment Depreciation Expense - Store Equipment Utilities Expense - Office Bad Debts Expense Insurance Expense Interest Expense 972,773.00 972,773.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 Office Supplies 9,300.00 Store Supplies 8,231.00 Merchandise Inventory, beg 98,500.00 a 98,500.00 Prepaid Insurance 6,083.00 Prepaid Rent 25,200.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable Utilities Payable Interest Payable Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense Office Supplies Expense Store Salaries Expense 53,000.00 Office Salaries Expense 61,000.00 Rent Expense - Store Depreciation Expense - Office Equipment Depreciation Expense - Store Equipment Utilities Expense - Office Bad Debts Expense Insurance Expense Interest Expense 972,773.00 972,773.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 Office Supplies 9,300.00 Store Supplies 8,231.00 Merchandise Inventory, beg 98,500.00 a 98,500.00 Prepaid Insurance 6,083.00 Prepaid Rent 25,200.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable Utilities Payable Interest Payable Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 b 84,400.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense Office Supplies Expense Store Salaries Expense 53,000.00 Office Salaries Expense 61,000.00 Rent Expense - Store Depreciation Expense - Office Equipment Depreciation Expense - Store Equipment Utilities Expense - Office Bad Debts Expense Insurance Expense Interest Expense 972,773.00 972,773.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 Office Supplies 9,300.00 Store Supplies 8,231.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 Prepaid Insurance 6,083.00 Prepaid Rent 25,200.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable Utilities Payable Interest Payable Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 b 84,400.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense Office Supplies Expense Store Salaries Expense 53,000.00 Office Salaries Expense 61,000.00 Rent Expense - Store Depreciation Expense - Office Equipment Depreciation Expense - Store Equipment Utilities Expense - Office Bad Debts Expense Insurance Expense Interest Expense 972,773.00 972,773.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 Office Supplies 9,300.00 c 3,450.00 Store Supplies 8,231.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 Prepaid Insurance 6,083.00 Prepaid Rent 25,200.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable Utilities Payable Interest Payable Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 b 84,400.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense Office Supplies Expense c 3,450.00 Store Salaries Expense 53,000.00 Office Salaries Expense 61,000.00 Rent Expense - Store Depreciation Expense - Office Equipment Depreciation Expense - Store Equipment Utilities Expense - Office Bad Debts Expense Insurance Expense Interest Expense 972,773.00 972,773.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 Office Supplies 9,300.00 c 3,450.00 Store Supplies 8,231.00 d 2,231.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 Prepaid Insurance 6,083.00 Prepaid Rent 25,200.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable Utilities Payable Interest Payable Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 b 84,400.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense d 2,231.00 Office Supplies Expense c 3,450.00 Store Salaries Expense 53,000.00 Office Salaries Expense 61,000.00 Rent Expense - Store Depreciation Expense - Office Equipment Depreciation Expense - Store Equipment Utilities Expense - Office Bad Debts Expense Insurance Expense Interest Expense 972,773.00 972,773.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 Office Supplies 9,300.00 c 3,450.00 Store Supplies 8,231.00 d 2,231.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 Prepaid Insurance 6,083.00 Prepaid Rent 25,200.00 e 6,300.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable Utilities Payable Interest Payable Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 b 84,400.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense d 2,231.00 Office Supplies Expense c 3,450.00 Store Salaries Expense 53,000.00 Office Salaries Expense 61,000.00 Rent Expense - Store e 6,300.00 Depreciation Expense - Office Equipment Depreciation Expense - Store Equipment Utilities Expense - Office Bad Debts Expense Insurance Expense Interest Expense 972,773.00 972,773.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 Office Supplies 9,300.00 c 3,450.00 Store Supplies 8,231.00 d 2,231.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 Prepaid Insurance 6,083.00 f 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable Utilities Payable Interest Payable Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 b 84,400.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense d 2,231.00 Office Supplies Expense c 3,450.00 Store Salaries Expense 53,000.00 Office Salaries Expense 61,000.00 Rent Expense - Store e 6,300.00 Depreciation Expense - Office Equipment Depreciation Expense - Store Equipment Utilities Expense - Office Bad Debts Expense Insurance Expense f 3,041.50 Interest Expense 972,773.00 972,773.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 Office Supplies 9,300.00 c 3,450.00 Store Supplies 8,231.00 d 2,231.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 Prepaid Insurance 6,083.00 f 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable Utilities Payable Interest Payable Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 b 84,400.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense d 2,231.00 Office Supplies Expense c 3,450.00 Store Salaries Expense 53,000.00 Office Salaries Expense 61,000.00 Rent Expense - Store e 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 Depreciation Expense - Store Equipment Utilities Expense - Office Bad Debts Expense Insurance Expense f 3,041.50 Interest Expense 972,773.00 972,773.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 Office Supplies 9,300.00 c 3,450.00 Store Supplies 8,231.00 d 2,231.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 Prepaid Insurance 6,083.00 f 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable Utilities Payable Interest Payable Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 b 84,400.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense d 2,231.00 Office Supplies Expense c 3,450.00 Store Salaries Expense 53,000.00 Office Salaries Expense 61,000.00 Rent Expense - Store e 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 Utilities Expense - Office Bad Debts Expense Insurance Expense f 3,041.50 Interest Expense 972,773.00 972,773.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 Office Supplies 9,300.00 c 3,450.00 Store Supplies 8,231.00 d 2,231.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 Prepaid Insurance 6,083.00 f 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable Utilities Payable i 4,320.00 Interest Payable Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 b 84,400.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense d 2,231.00 Office Supplies Expense c 3,450.00 Store Salaries Expense 53,000.00 Office Salaries Expense 61,000.00 Rent Expense - Store e 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 Utilities Expense - Office i 4,320.00 Bad Debts Expense Insurance Expense f 3,041.50 Interest Expense 972,773.00 972,773.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 Office Supplies 9,300.00 c 3,450.00 Store Supplies 8,231.00 d 2,231.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 Prepaid Insurance 6,083.00 f 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable j 3,500.00 Utilities Payable i 4,320.00 Interest Payable Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 b 84,400.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense d 2,231.00 Office Supplies Expense c 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 Office Salaries Expense 61,000.00 Rent Expense - Store e 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 Utilities Expense - Office i 4,320.00 Bad Debts Expense Insurance Expense f 3,041.50 Interest Expense 972,773.00 972,773.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 Office Supplies 9,300.00 c 3,450.00 Store Supplies 8,231.00 d 2,231.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 Prepaid Insurance 6,083.00 f 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable j 3,500.00 Utilities Payable i 4,320.00 Interest Payable k 16,250.00 Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 b 84,400.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense d 2,231.00 Office Supplies Expense c 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 Office Salaries Expense 61,000.00 Rent Expense - Store e 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 Utilities Expense - Office i 4,320.00 Bad Debts Expense Insurance Expense f 3,041.50 Interest Expense k 16,250.00 972,773.00 972,773.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 l 1,656.00 Office Supplies 9,300.00 c 3,450.00 Store Supplies 8,231.00 d 2,231.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 Prepaid Insurance 6,083.00 f 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable j 3,500.00 Utilities Payable i 4,320.00 Interest Payable k 16,250.00 Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 b 84,400.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense d 2,231.00 Office Supplies Expense c 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 Office Salaries Expense 61,000.00 Rent Expense - Store e 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 Utilities Expense - Office i 4,320.00 Bad Debts Expense l 1,656.00 Insurance Expense f 3,041.50 Interest Expense k 16,250.00 972,773.00 972,773.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 l 1,656.00 Office Supplies 9,300.00 c 3,450.00 Store Supplies 8,231.00 d 2,231.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 Prepaid Insurance 6,083.00 f 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable j 3,500.00 Utilities Payable i 4,320.00 Interest Payable k 16,250.00 Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 b 84,400.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense d 2,231.00 Office Supplies Expense c 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 Office Salaries Expense 61,000.00 Rent Expense - Store e 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 Utilities Expense - Office i 4,320.00 Bad Debts Expense l 1,656.00 Insurance Expense f 3,041.50 Interest Expense k 16,250.00 972,773.00 972,773.00 278,698.50 278,698.50 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 Accounts Receivable 110,400.00 Allowance for Bad Debts 9,384.00 l 1,656.00 Office Supplies 9,300.00 c 3,450.00 Store Supplies 8,231.00 d 2,231.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 Prepaid Insurance 6,083.00 f 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 Office Equipment 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 Store Equipment 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 Accounts Payable 32,100.00 Notes Payable 250,000.00 Salaries Payable j 3,500.00 Utilities Payable i 4,320.00 Interest Payable k 16,250.00 Baha, Capital 167,475.00 Baha, Drawing 7,500.00 Income Summary a 98,500.00 b 84,400.00 Purchases 155,240.00 Freight-In 23,286.00 Purchase Returns & Allowances 2,300.00 Purchase Discount 5,434.00 Sales 451,530.00 Sales Returns & Allowances 4,063.00 Sales Discount 8,540.00 Store Supplies Expense d 2,231.00 Office Supplies Expense c 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 Office Salaries Expense 61,000.00 Rent Expense - Store e 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 Utilities Expense - Office i 4,320.00 Bad Debts Expense l 1,656.00 Insurance Expense f 3,041.50 Interest Expense k 16,250.00 972,773.00 972,773.00 278,698.50 278,698.50 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 56,030.00 Accounts Receivable 110,400.00 110,400.00 Allowance for Bad Debts 9,384.00 l 1,656.00 11,040.00 Office Supplies 9,300.00 c 3,450.00 5,850.00 Store Supplies 8,231.00 d 2,231.00 6,000.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 84,400.00 Prepaid Insurance 6,083.00 f 3,041.50 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 18,900.00 Office Equipment 142,300.00 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 27,960.00 Store Equipment 204,100.00 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 81,640.00 Accounts Payable 32,100.00 32,100.00 Notes Payable 250,000.00 250,000.00 Salaries Payable j 3,500.00 3,500.00 Utilities Payable i 4,320.00 4,320.00 Interest Payable k 16,250.00 16,250.00 Baha, Capital 167,475.00 167,475.00 Baha, Drawing 7,500.00 7,500.00 Income Summary a 98,500.00 b 84,400.00 98,500.00 84,400.00 Purchases 155,240.00 155,240.00 Freight-In 23,286.00 23,286.00 Purchase Returns & Allowances 2,300.00 2,300.00 Purchase Discount 5,434.00 5,434.00 Sales 451,530.00 451,530.00 Sales Returns & Allowances 4,063.00 4,063.00 Sales Discount 8,540.00 8,540.00 Store Supplies Expense d 2,231.00 2,231.00 Office Supplies Expense c 3,450.00 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 56,500.00 Office Salaries Expense 61,000.00 61,000.00 Rent Expense - Store e 6,300.00 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 40,820.00 Utilities Expense - Office i 4,320.00 4,320.00 Bad Debts Expense l 1,656.00 1,656.00 Insurance Expense f 3,041.50 3,041.50 Interest Expense k 16,250.00 16,250.00 972,773.00 972,773.00 278,698.50 278,698.50 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 56,030.00 Accounts Receivable 110,400.00 110,400.00 Allowance for Bad Debts 9,384.00 l 1,656.00 11,040.00 Office Supplies 9,300.00 c 3,450.00 5,850.00 Store Supplies 8,231.00 d 2,231.00 6,000.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 84,400.00 Prepaid Insurance 6,083.00 f 3,041.50 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 18,900.00 Office Equipment 142,300.00 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 27,960.00 Store Equipment 204,100.00 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 81,640.00 Accounts Payable 32,100.00 32,100.00 Notes Payable 250,000.00 250,000.00 Salaries Payable j 3,500.00 3,500.00 Utilities Payable i 4,320.00 4,320.00 Interest Payable k 16,250.00 16,250.00 Baha, Capital 167,475.00 167,475.00 Baha, Drawing 7,500.00 7,500.00 Income Summary a 98,500.00 b 84,400.00 98,500.00 84,400.00 Purchases 155,240.00 155,240.00 Freight-In 23,286.00 23,286.00 Purchase Returns & Allowances 2,300.00 2,300.00 Purchase Discount 5,434.00 5,434.00 Sales 451,530.00 451,530.00 Sales Returns & Allowances 4,063.00 4,063.00 Sales Discount 8,540.00 8,540.00 Store Supplies Expense d 2,231.00 2,231.00 Office Supplies Expense c 3,450.00 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 56,500.00 Office Salaries Expense 61,000.00 61,000.00 Rent Expense - Store e 6,300.00 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 40,820.00 Utilities Expense - Office i 4,320.00 4,320.00 Bad Debts Expense l 1,656.00 1,656.00 Insurance Expense f 3,041.50 3,041.50 Interest Expense k 16,250.00 16,250.00 972,773.00 972,773.00 278,698.50 278,698.50 1,137,949.00 1,137,949.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 56,030.00 Accounts Receivable 110,400.00 110,400.00 Allowance for Bad Debts 9,384.00 l 1,656.00 11,040.00 Office Supplies 9,300.00 c 3,450.00 5,850.00 Store Supplies 8,231.00 d 2,231.00 6,000.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 84,400.00 Prepaid Insurance 6,083.00 f 3,041.50 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 18,900.00 Office Equipment 142,300.00 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 27,960.00 Store Equipment 204,100.00 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 81,640.00 Accounts Payable 32,100.00 32,100.00 Notes Payable 250,000.00 250,000.00 Salaries Payable j 3,500.00 3,500.00 Utilities Payable i 4,320.00 4,320.00 Interest Payable k 16,250.00 16,250.00 Baha, Capital 167,475.00 167,475.00 Baha, Drawing 7,500.00 7,500.00 Income Summary a 98,500.00 b 84,400.00 98,500.00 84,400.00 98,500.00 84,400.00 Purchases 155,240.00 155,240.00 155,240.00 Freight-In 23,286.00 23,286.00 23,286.00 Purchase Returns & Allowances 2,300.00 2,300.00 2,300.00 Purchase Discount 5,434.00 5,434.00 5,434.00 Sales 451,530.00 451,530.00 451,530.00 Sales Returns & Allowances 4,063.00 4,063.00 4,063.00 Sales Discount 8,540.00 8,540.00 8,540.00 Store Supplies Expense d 2,231.00 2,231.00 2,231.00 Office Supplies Expense c 3,450.00 3,450.00 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 56,500.00 56,500.00 Office Salaries Expense 61,000.00 61,000.00 61,000.00 Rent Expense - Store e 6,300.00 6,300.00 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 14,230.00 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 40,820.00 40,820.00 Utilities Expense - Office i 4,320.00 4,320.00 4,320.00 Bad Debts Expense l 1,656.00 1,656.00 1,656.00 Insurance Expense f 3,041.50 3,041.50 3,041.50 Interest Expense k 16,250.00 16,250.00 16,250.00 972,773.00 972,773.00 278,698.50 278,698.50 1,137,949.00 1,137,949.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 56,030.00 Accounts Receivable 110,400.00 110,400.00 Allowance for Bad Debts 9,384.00 l 1,656.00 11,040.00 Office Supplies 9,300.00 c 3,450.00 5,850.00 Store Supplies 8,231.00 d 2,231.00 6,000.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 84,400.00 Prepaid Insurance 6,083.00 f 3,041.50 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 18,900.00 Office Equipment 142,300.00 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 27,960.00 Store Equipment 204,100.00 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 81,640.00 Accounts Payable 32,100.00 32,100.00 Notes Payable 250,000.00 250,000.00 Salaries Payable j 3,500.00 3,500.00 Utilities Payable i 4,320.00 4,320.00 Interest Payable k 16,250.00 16,250.00 Baha, Capital 167,475.00 167,475.00 Baha, Drawing 7,500.00 7,500.00 Income Summary a 98,500.00 b 84,400.00 98,500.00 84,400.00 98,500.00 84,400.00 Purchases 155,240.00 155,240.00 155,240.00 Freight-In 23,286.00 23,286.00 23,286.00 Purchase Returns & Allowances 2,300.00 2,300.00 2,300.00 Purchase Discount 5,434.00 5,434.00 5,434.00 Sales 451,530.00 451,530.00 451,530.00 Sales Returns & Allowances 4,063.00 4,063.00 4,063.00 Sales Discount 8,540.00 8,540.00 8,540.00 Store Supplies Expense d 2,231.00 2,231.00 2,231.00 Office Supplies Expense c 3,450.00 3,450.00 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 56,500.00 56,500.00 Office Salaries Expense 61,000.00 61,000.00 61,000.00 Rent Expense - Store e 6,300.00 6,300.00 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 14,230.00 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 40,820.00 40,820.00 Utilities Expense - Office i 4,320.00 4,320.00 4,320.00 Bad Debts Expense l 1,656.00 1,656.00 1,656.00 Insurance Expense f 3,041.50 3,041.50 3,041.50 Interest Expense k 16,250.00 16,250.00 16,250.00 972,773.00 972,773.00 278,698.50 278,698.50 1,137,949.00 1,137,949.00 499,427.50 543,664.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 56,030.00 56,030.00 Accounts Receivable 110,400.00 110,400.00 110,400.00 Allowance for Bad Debts 9,384.00 l 1,656.00 11,040.00 11,040.00 Office Supplies 9,300.00 c 3,450.00 5,850.00 5,850.00 Store Supplies 8,231.00 d 2,231.00 6,000.00 6,000.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 84,400.00 84,400.00 Prepaid Insurance 6,083.00 f 3,041.50 3,041.50 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 18,900.00 18,900.00 Office Equipment 142,300.00 142,300.00 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 27,960.00 27,960.00 Store Equipment 204,100.00 204,100.00 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 81,640.00 81,640.00 Accounts Payable 32,100.00 32,100.00 32,100.00 Notes Payable 250,000.00 250,000.00 250,000.00 Salaries Payable j 3,500.00 3,500.00 3,500.00 Utilities Payable i 4,320.00 4,320.00 4,320.00 Interest Payable k 16,250.00 16,250.00 16,250.00 Baha, Capital 167,475.00 167,475.00 167,475.00 Baha, Drawing 7,500.00 7,500.00 7,500.00 Income Summary a 98,500.00 b 84,400.00 98,500.00 84,400.00 98,500.00 84,400.00 Purchases 155,240.00 155,240.00 155,240.00 Freight-In 23,286.00 23,286.00 23,286.00 Purchase Returns & Allowances 2,300.00 2,300.00 2,300.00 Purchase Discount 5,434.00 5,434.00 5,434.00 Sales 451,530.00 451,530.00 451,530.00 Sales Returns & Allowances 4,063.00 4,063.00 4,063.00 Sales Discount 8,540.00 8,540.00 8,540.00 Store Supplies Expense d 2,231.00 2,231.00 2,231.00 Office Supplies Expense c 3,450.00 3,450.00 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 56,500.00 56,500.00 Office Salaries Expense 61,000.00 61,000.00 61,000.00 Rent Expense - Store e 6,300.00 6,300.00 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 14,230.00 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 40,820.00 40,820.00 Utilities Expense - Office i 4,320.00 4,320.00 4,320.00 Bad Debts Expense l 1,656.00 1,656.00 1,656.00 Insurance Expense f 3,041.50 3,041.50 3,041.50 Interest Expense k 16,250.00 16,250.00 16,250.00 972,773.00 972,773.00 278,698.50 278,698.50 1,137,949.00 1,137,949.00 499,427.50 543,664.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 56,030.00 56,030.00 Accounts Receivable 110,400.00 110,400.00 110,400.00 Allowance for Bad Debts 9,384.00 l 1,656.00 11,040.00 11,040.00 Office Supplies 9,300.00 c 3,450.00 5,850.00 5,850.00 Store Supplies 8,231.00 d 2,231.00 6,000.00 6,000.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 84,400.00 84,400.00 Prepaid Insurance 6,083.00 f 3,041.50 3,041.50 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 18,900.00 18,900.00 Office Equipment 142,300.00 142,300.00 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 27,960.00 27,960.00 Store Equipment 204,100.00 204,100.00 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 81,640.00 81,640.00 Accounts Payable 32,100.00 32,100.00 32,100.00 Notes Payable 250,000.00 250,000.00 250,000.00 Salaries Payable j 3,500.00 3,500.00 3,500.00 Utilities Payable i 4,320.00 4,320.00 4,320.00 Interest Payable k 16,250.00 16,250.00 16,250.00 Baha, Capital 167,475.00 167,475.00 167,475.00 Baha, Drawing 7,500.00 7,500.00 7,500.00 Income Summary a 98,500.00 b 84,400.00 98,500.00 84,400.00 98,500.00 84,400.00 Purchases 155,240.00 155,240.00 155,240.00 Freight-In 23,286.00 23,286.00 23,286.00 Purchase Returns & Allowances 2,300.00 2,300.00 2,300.00 Purchase Discount 5,434.00 5,434.00 5,434.00 Sales 451,530.00 451,530.00 451,530.00 Sales Returns & Allowances 4,063.00 4,063.00 4,063.00 Sales Discount 8,540.00 8,540.00 8,540.00 Store Supplies Expense d 2,231.00 2,231.00 2,231.00 Office Supplies Expense c 3,450.00 3,450.00 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 56,500.00 56,500.00 Office Salaries Expense 61,000.00 61,000.00 61,000.00 Rent Expense - Store e 6,300.00 6,300.00 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 14,230.00 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 40,820.00 40,820.00 Utilities Expense - Office i 4,320.00 4,320.00 4,320.00 Bad Debts Expense l 1,656.00 1,656.00 1,656.00 Insurance Expense f 3,041.50 3,041.50 3,041.50 Interest Expense k 16,250.00 16,250.00 16,250.00 972,773.00 972,773.00 278,698.50 278,698.50 1,137,949.00 1,137,949.00 499,427.50 543,664.00 638,521.50 594,285.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 56,030.00 56,030.00 Accounts Receivable 110,400.00 110,400.00 110,400.00 Allowance for Bad Debts 9,384.00 l 1,656.00 11,040.00 11,040.00 Office Supplies 9,300.00 c 3,450.00 5,850.00 5,850.00 Store Supplies 8,231.00 d 2,231.00 6,000.00 6,000.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 84,400.00 84,400.00 Prepaid Insurance 6,083.00 f 3,041.50 3,041.50 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 18,900.00 18,900.00 Office Equipment 142,300.00 142,300.00 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 27,960.00 27,960.00 Store Equipment 204,100.00 204,100.00 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 81,640.00 81,640.00 Accounts Payable 32,100.00 32,100.00 32,100.00 Notes Payable 250,000.00 250,000.00 250,000.00 Salaries Payable j 3,500.00 3,500.00 3,500.00 Utilities Payable i 4,320.00 4,320.00 4,320.00 Interest Payable k 16,250.00 16,250.00 16,250.00 Baha, Capital 167,475.00 167,475.00 167,475.00 Baha, Drawing 7,500.00 7,500.00 7,500.00 Income Summary a 98,500.00 b 84,400.00 98,500.00 84,400.00 98,500.00 84,400.00 Purchases 155,240.00 155,240.00 155,240.00 Freight-In 23,286.00 23,286.00 23,286.00 Purchase Returns & Allowances 2,300.00 2,300.00 2,300.00 Purchase Discount 5,434.00 5,434.00 5,434.00 Sales 451,530.00 451,530.00 451,530.00 Sales Returns & Allowances 4,063.00 4,063.00 4,063.00 Sales Discount 8,540.00 8,540.00 8,540.00 Store Supplies Expense d 2,231.00 2,231.00 2,231.00 Office Supplies Expense c 3,450.00 3,450.00 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 56,500.00 56,500.00 Office Salaries Expense 61,000.00 61,000.00 61,000.00 Rent Expense - Store e 6,300.00 6,300.00 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 14,230.00 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 40,820.00 40,820.00 Utilities Expense - Office i 4,320.00 4,320.00 4,320.00 Bad Debts Expense l 1,656.00 1,656.00 1,656.00 Insurance Expense f 3,041.50 3,041.50 3,041.50 Interest Expense k 16,250.00 16,250.00 16,250.00 972,773.00 972,773.00 278,698.50 278,698.50 1,137,949.00 1,137,949.00 499,427.50 543,664.00 638,521.50 594,285.00 543,664.00 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 56,030.00 56,030.00 Accounts Receivable 110,400.00 110,400.00 110,400.00 Allowance for Bad Debts 9,384.00 l 1,656.00 11,040.00 11,040.00 Office Supplies 9,300.00 c 3,450.00 5,850.00 5,850.00 Store Supplies 8,231.00 d 2,231.00 6,000.00 6,000.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 84,400.00 84,400.00 Prepaid Insurance 6,083.00 f 3,041.50 3,041.50 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 18,900.00 18,900.00 Office Equipment 142,300.00 142,300.00 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 27,960.00 27,960.00 Store Equipment 204,100.00 204,100.00 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 81,640.00 81,640.00 Accounts Payable 32,100.00 32,100.00 32,100.00 Notes Payable 250,000.00 250,000.00 250,000.00 Salaries Payable j 3,500.00 3,500.00 3,500.00 Utilities Payable i 4,320.00 4,320.00 4,320.00 Interest Payable k 16,250.00 16,250.00 16,250.00 Baha, Capital 167,475.00 167,475.00 167,475.00 Baha, Drawing 7,500.00 7,500.00 7,500.00 Income Summary a 98,500.00 b 84,400.00 98,500.00 84,400.00 98,500.00 84,400.00 Purchases 155,240.00 155,240.00 155,240.00 Freight-In 23,286.00 23,286.00 23,286.00 Purchase Returns & Allowances 2,300.00 2,300.00 2,300.00 Purchase Discount 5,434.00 5,434.00 5,434.00 Sales 451,530.00 451,530.00 451,530.00 Sales Returns & Allowances 4,063.00 4,063.00 4,063.00 Sales Discount 8,540.00 8,540.00 8,540.00 Store Supplies Expense d 2,231.00 2,231.00 2,231.00 Office Supplies Expense c 3,450.00 3,450.00 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 56,500.00 56,500.00 Office Salaries Expense 61,000.00 61,000.00 61,000.00 Rent Expense - Store e 6,300.00 6,300.00 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 14,230.00 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 40,820.00 40,820.00 Utilities Expense - Office i 4,320.00 4,320.00 4,320.00 Bad Debts Expense l 1,656.00 1,656.00 1,656.00 Insurance Expense f 3,041.50 3,041.50 3,041.50 Interest Expense k 16,250.00 16,250.00 16,250.00 972,773.00 972,773.00 278,698.50 278,698.50 1,137,949.00 1,137,949.00 499,427.50 543,664.00 638,521.50 594,285.00 543,664.00 638,521.50 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 56,030.00 56,030.00 Accounts Receivable 110,400.00 110,400.00 110,400.00 Allowance for Bad Debts 9,384.00 l 1,656.00 11,040.00 11,040.00 Office Supplies 9,300.00 c 3,450.00 5,850.00 5,850.00 Store Supplies 8,231.00 d 2,231.00 6,000.00 6,000.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 84,400.00 84,400.00 Prepaid Insurance 6,083.00 f 3,041.50 3,041.50 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 18,900.00 18,900.00 Office Equipment 142,300.00 142,300.00 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 27,960.00 27,960.00 Store Equipment 204,100.00 204,100.00 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 81,640.00 81,640.00 Accounts Payable 32,100.00 32,100.00 32,100.00 Notes Payable 250,000.00 250,000.00 250,000.00 Salaries Payable j 3,500.00 3,500.00 3,500.00 Utilities Payable i 4,320.00 4,320.00 4,320.00 Interest Payable k 16,250.00 16,250.00 16,250.00 Baha, Capital 167,475.00 167,475.00 167,475.00 Baha, Drawing 7,500.00 7,500.00 7,500.00 Income Summary a 98,500.00 b 84,400.00 98,500.00 84,400.00 98,500.00 84,400.00 Purchases 155,240.00 155,240.00 155,240.00 Freight-In 23,286.00 23,286.00 23,286.00 Purchase Returns & Allowances 2,300.00 2,300.00 2,300.00 Purchase Discount 5,434.00 5,434.00 5,434.00 Sales 451,530.00 451,530.00 451,530.00 Sales Returns & Allowances 4,063.00 4,063.00 4,063.00 Sales Discount 8,540.00 8,540.00 8,540.00 Store Supplies Expense d 2,231.00 2,231.00 2,231.00 Office Supplies Expense c 3,450.00 3,450.00 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 56,500.00 56,500.00 Office Salaries Expense 61,000.00 61,000.00 61,000.00 Rent Expense - Store e 6,300.00 6,300.00 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 14,230.00 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 40,820.00 40,820.00 Utilities Expense - Office i 4,320.00 4,320.00 4,320.00 Bad Debts Expense l 1,656.00 1,656.00 1,656.00 Insurance Expense f 3,041.50 3,041.50 3,041.50 Interest Expense k 16,250.00 16,250.00 16,250.00 972,773.00 972,773.00 278,698.50 278,698.50 1,137,949.00 1,137,949.00 499,427.50 543,664.00 638,521.50 594,285.00 44,236.50 543,664.00 638,521.50 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 56,030.00 56,030.00 Accounts Receivable 110,400.00 110,400.00 110,400.00 Allowance for Bad Debts 9,384.00 l 1,656.00 11,040.00 11,040.00 Office Supplies 9,300.00 c 3,450.00 5,850.00 5,850.00 Store Supplies 8,231.00 d 2,231.00 6,000.00 6,000.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 84,400.00 84,400.00 Prepaid Insurance 6,083.00 f 3,041.50 3,041.50 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 18,900.00 18,900.00 Office Equipment 142,300.00 142,300.00 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 27,960.00 27,960.00 Store Equipment 204,100.00 204,100.00 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 81,640.00 81,640.00 Accounts Payable 32,100.00 32,100.00 32,100.00 Notes Payable 250,000.00 250,000.00 250,000.00 Salaries Payable j 3,500.00 3,500.00 3,500.00 Utilities Payable i 4,320.00 4,320.00 4,320.00 Interest Payable k 16,250.00 16,250.00 16,250.00 Baha, Capital 167,475.00 167,475.00 167,475.00 Baha, Drawing 7,500.00 7,500.00 7,500.00 Income Summary a 98,500.00 b 84,400.00 98,500.00 84,400.00 98,500.00 84,400.00 Purchases 155,240.00 155,240.00 155,240.00 Freight-In 23,286.00 23,286.00 23,286.00 Purchase Returns & Allowances 2,300.00 2,300.00 2,300.00 Purchase Discount 5,434.00 5,434.00 5,434.00 Sales 451,530.00 451,530.00 451,530.00 Sales Returns & Allowances 4,063.00 4,063.00 4,063.00 Sales Discount 8,540.00 8,540.00 8,540.00 Store Supplies Expense d 2,231.00 2,231.00 2,231.00 Office Supplies Expense c 3,450.00 3,450.00 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 56,500.00 56,500.00 Office Salaries Expense 61,000.00 61,000.00 61,000.00 Rent Expense - Store e 6,300.00 6,300.00 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 14,230.00 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 40,820.00 40,820.00 Utilities Expense - Office i 4,320.00 4,320.00 4,320.00 Bad Debts Expense l 1,656.00 1,656.00 1,656.00 Insurance Expense f 3,041.50 3,041.50 3,041.50 Interest Expense k 16,250.00 16,250.00 16,250.00 972,773.00 972,773.00 278,698.50 278,698.50 1,137,949.00 1,137,949.00 499,427.50 543,664.00 638,521.50 594,285.00 44,236.50 44,236.50 543,664.00 638,521.50 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 56,030.00 56,030.00 Accounts Receivable 110,400.00 110,400.00 110,400.00 Allowance for Bad Debts 9,384.00 l 1,656.00 11,040.00 11,040.00 Office Supplies 9,300.00 c 3,450.00 5,850.00 5,850.00 Store Supplies 8,231.00 d 2,231.00 6,000.00 6,000.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 84,400.00 84,400.00 Prepaid Insurance 6,083.00 f 3,041.50 3,041.50 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 18,900.00 18,900.00 Office Equipment 142,300.00 142,300.00 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 27,960.00 27,960.00 Store Equipment 204,100.00 204,100.00 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 81,640.00 81,640.00 Accounts Payable 32,100.00 32,100.00 32,100.00 Notes Payable 250,000.00 250,000.00 250,000.00 Salaries Payable j 3,500.00 3,500.00 3,500.00 Utilities Payable i 4,320.00 4,320.00 4,320.00 Interest Payable k 16,250.00 16,250.00 16,250.00 Baha, Capital 167,475.00 167,475.00 167,475.00 Baha, Drawing 7,500.00 7,500.00 7,500.00 Income Summary a 98,500.00 b 84,400.00 98,500.00 84,400.00 98,500.00 84,400.00 Purchases 155,240.00 155,240.00 155,240.00 Freight-In 23,286.00 23,286.00 23,286.00 Purchase Returns & Allowances 2,300.00 2,300.00 2,300.00 Purchase Discount 5,434.00 5,434.00 5,434.00 Sales 451,530.00 451,530.00 451,530.00 Sales Returns & Allowances 4,063.00 4,063.00 4,063.00 Sales Discount 8,540.00 8,540.00 8,540.00 Store Supplies Expense d 2,231.00 2,231.00 2,231.00 Office Supplies Expense c 3,450.00 3,450.00 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 56,500.00 56,500.00 Office Salaries Expense 61,000.00 61,000.00 61,000.00 Rent Expense - Store e 6,300.00 6,300.00 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 14,230.00 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 40,820.00 40,820.00 Utilities Expense - Office i 4,320.00 4,320.00 4,320.00 Bad Debts Expense l 1,656.00 1,656.00 1,656.00 Insurance Expense f 3,041.50 3,041.50 3,041.50 Interest Expense k 16,250.00 16,250.00 16,250.00 972,773.00 972,773.00 278,698.50 278,698.50 1,137,949.00 1,137,949.00 499,427.50 543,664.00 638,521.50 594,285.00 44,236.50 44,236.50 543,664.00 638,521.50 638,521.50 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit debit credit debit credit debit credit Cash 56,030.00 56,030.00 56,030.00 Accounts Receivable 110,400.00 110,400.00 110,400.00 Allowance for Bad Debts 9,384.00 l 1,656.00 11,040.00 11,040.00 Office Supplies 9,300.00 c 3,450.00 5,850.00 5,850.00 Store Supplies 8,231.00 d 2,231.00 6,000.00 6,000.00 Merchandise Inventory, beg 98,500.00 b. 84,400.00 a 98,500.00 84,400.00 84,400.00 Prepaid Insurance 6,083.00 f 3,041.50 3,041.50 3,041.50 Prepaid Rent 25,200.00 e 6,300.00 18,900.00 18,900.00 Office Equipment 142,300.00 142,300.00 142,300.00 Accumulated Depreciation - Office Equipment 13,730.00 g 14,230.00 27,960.00 27,960.00 Store Equipment 204,100.00 204,100.00 204,100.00 Accumulated Depreciation - Store Equipment 40,820.00 h 40,820.00 81,640.00 81,640.00 Accounts Payable 32,100.00 32,100.00 32,100.00 Notes Payable 250,000.00 250,000.00 250,000.00 Salaries Payable j 3,500.00 3,500.00 3,500.00 Utilities Payable i 4,320.00 4,320.00 4,320.00 Interest Payable k 16,250.00 16,250.00 16,250.00 Baha, Capital 167,475.00 167,475.00 167,475.00 Baha, Drawing 7,500.00 7,500.00 7,500.00 Income Summary a 98,500.00 b 84,400.00 98,500.00 84,400.00 98,500.00 84,400.00 Purchases 155,240.00 155,240.00 155,240.00 Freight-In 23,286.00 23,286.00 23,286.00 Purchase Returns & Allowances 2,300.00 2,300.00 2,300.00 Purchase Discount 5,434.00 5,434.00 5,434.00 Sales 451,530.00 451,530.00 451,530.00 Sales Returns & Allowances 4,063.00 4,063.00 4,063.00 Sales Discount 8,540.00 8,540.00 8,540.00 Store Supplies Expense d 2,231.00 2,231.00 2,231.00 Office Supplies Expense c 3,450.00 3,450.00 3,450.00 Store Salaries Expense 53,000.00 j 3,500.00 56,500.00 56,500.00 Office Salaries Expense 61,000.00 61,000.00 61,000.00 Rent Expense - Store e 6,300.00 6,300.00 6,300.00 Depreciation Expense - Office Equipment g 14,230.00 14,230.00 14,230.00 Depreciation Expense - Store Equipment h 40,820.00 40,820.00 40,820.00 Utilities Expense - Office i 4,320.00 4,320.00 4,320.00 Bad Debts Expense l 1,656.00 1,656.00 1,656.00 Insurance Expense f 3,041.50 3,041.50 3,041.50 Interest Expense k 16,250.00 16,250.00 16,250.00 972,773.00 972,773.00 278,698.50 278,698.50 1,137,949.00 1,137,949.00 499,427.50 543,664.00 638,521.50 594,285.00 44,236.50 44,236.50 543,664.00 543,664.00 638,521.50 638,521.50 ADJUSTMENTS credit debit LEPTOWS MECHANDISING WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET 1 2 3 4
23/11/2022 2 debit credit debit credit debit credit debit credit Cash 57,680 57,680 57,680 Accounts Receivable 99,678 99,678 99,678 Merchandise Inventory, beg 193,510 a2 235,350 a1 193,510 235,350 235,350 Store Supplies 15,610 c 4,450 11,160 11,160 Prepaid Insurance 14,248 b 1,200 13,048 13,048 Prepaid Rent 40,290 d 4,500 35,790 35,790 Store Equipment 60,400 60,400 60,400 Accumulated Depreciation - Store Equipment 11,880 e 2,250 14,130 14,130 Accounts Payable 59,390 59,390 59,390 T. Alonzo Capital 280,258 280,258 280,258 Sales 790,592 790,592 790,592 Sales Returns & Allowances 4,485 4,485 4,485 Purchase 328,067 328,067 328,067 Purchase Returns & Allowances 3,737 3,737 3,737 Freight-In 5,290 5,290 5,290 Sales Salaries Expense 103,420 f 2,700 106,120 106,120 Advertising Expense 42,650 42,650 42,650 Office Salaries Expense 160,540 g 2,900 163,440 163,440 Legal and Auditing Expense 9,750 9,750 9,750 Utilities Expense 5,240 5,240 5,240 Miscellaneous General Expense 4,258 4,258 4,258 Interest income 1,675 1,675 1,675 Interest Expense 2,416 2,416 2,416 1,147,532 1,147,532 Income Summary - a1 193,510 a2 235,350 193,510 235,350 193,510 235,350 Insurance Expense b 1,200 1,200 1,200 Store Supplies Expense c 4,450 4,450 4,450 Rent Expense d 4,500 4,500 4,500 Depreciation Expense - Store Equipment e 2,250 2,250 2,250 Salaries Payable f/g 5,600 5,600 5,600 446,860 446,860 1,390,732 1,390,732 877,626 1,031,354 513,106 359,378 153,728 153,728 1,031,354 1,031,354 513,106 513,106 Aquino Hardware Store WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET debit credit ADJUSTMENTS 5 6 7 8
23/11/2022 3 9 10 11
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