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Bennett Fabric Store Trial Balance as of 12/31/2023 Account Debit Credit Cash 100,000 Accounts Receivable 20,000 Inventory 15,000 Prepaid Expense 4,000 Investments 10,000 Land 24,300
Bennett Fabric Store | ||
Trial Balance as of 12/31/2023 | ||
Account | Debit | Credit |
Cash | 100,000 | |
Accounts Receivable | 20,000 | |
Inventory | 15,000 | |
Prepaid Expense | 4,000 | |
Investments | 10,000 | |
Land | 24,300 | |
Buildings | 250,000 | |
Equipment | 50,000 | |
Accumulated depreciation | 5,000 | |
Intangible Assets | 4,000 | |
Accumulated Amortization | 200 | |
Accounts Payable | 30,000 | |
Notes Payable | 17,000 | |
Long Term Debt | 200,000 | |
Paid in Capital | 10,000 | |
Retained Earninds | 18,000 | |
Sales Revenue | 1,000,000 | |
Cost of Goods Sold | 200,000 | |
Salaries Expense | 357,700 | |
Interest Expense | 20000 | |
Depreciation Expense | 5,000 | |
Amoritization Expense | 200 | |
Interest Income | 20,000 | |
Interest Expense | 240,000 | |
1,300,200 | 1,300,200 | |
"Notes 1. Bennett Fabric Store paid for their insurance on 6/1/2023 for 18 months. 2. The Investments include a Certificate of Deposit for $2,000 maturing 1/15/24." | ||
Convert trial balance to balance sheet and income statement plz
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