Question
1. Make a Balance Sheet in Good Form 2. Make an Income Statement in Good Form 3. Make a Statement of Equity Company Name: Accountants
| 1. Make a Balance Sheet in Good Form |
| 2. Make an Income Statement in Good Form |
| 3. Make a Statement of Equity |
Company Name: Accountants R US
As of September 30, 2022
| Cash Debit 55000 | |||||||||
| Short term Investment Debit 575000 | |||||||||
| Accounts Receivable Debit 92000 | |||||||||
| Allowance for Doubtful Accounts Credit 4000 | |||||||||
| Additional Paid in Capital Preferred Credit 14000 | |||||||||
| Inventory Debit 154000 | |||||||||
| Automobiles Debit 27000 | |||||||||
| Buildings Debit 410000 | |||||||||
| Land Debit 282000 | |||||||||
| Equipment Debit 109500 | |||||||||
| Accumulated Dep Buildings Credit 256000 | |||||||||
| Accumulated Dep Equipment Credit 73000 | |||||||||
| Accumulated Dep Automobiles Credit 21000 | |||||||||
| Patent Debit 45000 | |||||||||
| Sales Credit 301000 | |||||||||
| Sales Returns Debit 4500 | |||||||||
| Non Controlling Interest Credit 5000 | |||||||||
| Cost of Goods Sold Debit 134000 | |||||||||
| Accounts Payable Credit 64000 | |||||||||
| Wages Payable Credit 14000 | |||||||||
| Long-Term Note Credit 214,000 | |||||||||
| Retained Earnings, Beginning Credit 301,000 | |||||||||
| Common Stock Credit 261000 | |||||||||
| Additional Paid in Capital- Common Credit 24000 | |||||||||
| Treasury Stock Debit 3800 | |||||||||
| Wage Expense Debit 31500 | |||||||||
| Rent Expense Debit 8000 | |||||||||
| Utilities Expense Debit 6500 | |||||||||
| Depreciation Expense Debit 15000 | |||||||||
| Employee Benefit Expense Debit 4000 | |||||||||
| Advertising Expense Debit 6400 | |||||||||
| Preferred Stock Credit 37000 | |||||||||
| Credit Card Expense Debit 3900 | |||||||||
| Sales Discount Debit 3700 | |||||||||
| Supplies Expense Debit 4000 | |||||||||
| Accumulated Comprehensive Income Debit 7000 | |||||||||
| Insurance Expense Debit 4000 | |||||||||
| Rental Revenue Credit 6500 | |||||||||
| Interest Expense Debit 1500 | |||||||||
| Dues Expense Debit 750 | |||||||||
| Unearned Revenues Credit 6800 | |||||||||
| Prepaid Insurance Current Debit 4250 | |||||||||
| Auto Expense Debit 7000 | |||||||||
| Interest Income Credit 1000 | |||||||||
| Good Will Debit 163500 | |||||||||
| Additional Paid in Capital -Treasury Credit 1500
Totals: Debits 1,604,800 Credits 1,604,800 | |||||||||
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Montgomerys Auditing Classic Reprint Series
Authors: Robert Hiester Montgomery
1st Edition
1390439356, 978-1390439359
