Cathy Capers, Inc.
Adjusted Trial Balance
December 31, 2020
					Dr.		Cr.
Cash					27,625
Accounts Receivable					31,450
Allowance for Doubtful Accounts							2,850
Merchandise Inventory (beginning)					64,980
Prepaid Insurance					13,600
Land					150,000
Office Equipment					46,000
Accumulated Depreciation-Office Equipment							16,865
Buildings					325,000
Accumulated Depreciation-Buildings							48,125
Timber					15,000
Accumulated Depletion-Timber							2,700
Patent					12,500
Accounts Payable							29,650
Salaries Payable							6,200
Interest Payable							1,500
Customer Refunds Payable							6,150
Unearned Rent							2,000
Notes Payable							320,000
Capital, Cathy Capers							151,200
Cathy Capers, Drawings					5,200
Sales							512,800
Purchases					310,200
Purchases Returns and Allowances							3,000
Purchase Discounts							5,750
Freight-in					4,500
Bad Debt Expense					2,670
Insurance Expense					1,600
Interest Expense					21,800
Repairs and Maintenance Expense					7,500
Salaries Expense					36,750
Advertising Expense					5,700
Depreciation Expense					11,815
Depletion Expense					1,200
Amortization Expense					4,000
Utilities Expense					13,200
Rent Revenue							3,500
					1,112,290		1,112,290
								-
Other data:
(1) Inventory on hand at December 31, 2020 (i.e., ending inventory) is						$ 87,652
(2) Bad Debt Expense, Insurance Expense, Repairs and Maintenance Expense, Depletion Expense, Amortization Expense, and Utilities Expense are 100% administrative.
(3) Advertising Expense is 100% selling.
(4) Depreciation Expense and Salaries Expense are 60% administrative and 40% selling.
(5) Portion of Notes Payable payable in the next year:					$ 20,000
(6) Cathy Capers contributions to the business in 2020 were					$ 6,500
Instructions: Prepare a(n)
			Points
Classified Balance Sheet			15
Multi-step Income Statement			15
Statement of Owner's Equity			8
Closing entries			7
Total			45