Cash XYZ Company Unadjusted Trial Balance December 31, 2021 Account Title Accounts receivable Allowance for uncollectible accounts Debits Credits 23,300 32,500 100 80 Supplies Prepaid rent Inventory Equipment 0 65,000 75,000 Accumulated depreciation - equipment 10,000 Accounts payable 26,000 Wages payable 3,000 Note payable 30,000 Capital stock 80,000 Retained earnings 16,050 Sales revenue 180,000 Cost of goods sold 95,000 Interest expense 0 Wage expenses 32,350 Rent expense 14,000 Supplies expense 2,000 Utility expense 6,000 Bad debt expense 0 Totals 345,150 345,150 Additional, information: Accrued wages, year-end Percentage of A/R uncollectible $4,500 2% Cash borrowed, September 1st $30,000 Principal due in 10 years Annual interest rate 10% Supplies on hand at year-end $500 Prepaid rent, year-end $1,000 Dividends paid $6,000 Useful life-Equipment 8 years XYZ Company Worksheet December 31, 2021 Account title Cash Accounts receivable Allowance for uncollectible accounts Supplies Prepaid rent Inventory Unadjusted Trial Balance Debt Credit Adjusting Entries Debit Credit Credit Equipment Accumulated depreciation-equipment Accounts payable Wages payable Note payable Interest payable Common stock Retained eamings Sales revenue Cost of goods sold Interest expense Wage expenses Rent expense Supplies expense Utility expense Bad debt expense Depreciation expense Net Income Totals XYZ Company Income Statement For the Year Ended December 31, 2021 Sales revenue Cost of goods sold Gross profit Other expenses: Interest expense Wage expense Rent expense Supplies expense Utility expense Bad debt expense Depreciation expense Total other expenses Net income XYZ Company Statement of Shareholders' Equity For the Year Ended December 31, 2021 Balance at January 1, 2003 Issue of Common stock Net income for 2003 Less: Dividends Balance at December 31, 2003 XYZ Company Balance Sheet At December 31, 2021 Assets Total Share- Common Retained holders Stock Earnings Equity Current assets: Cash Accounts receivable Less: Allowance for uncollectible accounts Supplies Prepaid Inventory Total current assets Equipment Less: Accumulated depreciation Total assets bilities and Shareholders' Equity Current liabilities: Accounts payable Wages payable Note payable Interest payable Total current liabilities Shareholders' equity: Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity XYZ Company General Journal Account Closing entries at December 31, 2021 Sales revenue Income summary Income summary Cost of goods sold Interest expense Wage expense Rent expense Supplies expense Utility expense Bad debt expense Depreciation expense Income summary Retained earnings Debit Credit