Company Name I really love Accounting As of September 30, 2022 Debit Credits Cash 55,000 Short term Investment 57,500 Accounts Receivable 92,000 Allowance for Doubtful Accounts 4,000 Additional Paid in Capital - Preferred 14,000 Inventory 154,000 Automobiles 27,000 Buildings 410,000 Land 282,000 Equipment 109,500 Accumulated Dep - Buildings 256,000 Accumulated Dep - Equipment 73,000 Accumulated Dep - Automobiles 21,000 Patent 4,500 Sales 301,000 Sales Returns 4,500 Non Controlling Interest 5,000 Cost of Goods Sold 134,000 Accounts Payable 64,000 Wages Payable 14,000 Long-Term Note 214,000 Retained Earnings, Beginning 301,000 Common Stock 261,000 Additional Paid in Capital- Common 24,000 Treasury Stock 3,800 Wage Expense 31,500 Rent Expense 8,000 Utilities Expense 6,500 Depreciation Expense 15,000 Employee Benefit Expense 4,000 Advertising Expense 6,400 Preferred Stock 37,000 Credit Card Expense 3,900 Sales Discount 3,700 Supplies Expense 4,000 Accumulated Comprehensive Income 7,000 Insurance Expense 4,000 Rental Revenue 6,500 Interest Expense 1,500 Dues Expense 750 Unearned Revenues 6,800 Prepaid Insurance - Current 4,250 Auto Expense 7,000 Interest Income 1,000 Good Will 163,500 Additional Paid in Capital - Treasury 1,500 Totals 1,604,800 1,604,800 Important Notes 1. The income tax rate is 5% 2. '$25,000 of the long-term note payable is due in the current year 3. The investment account is considered short-term in nature 4. At this point no taxes have been accrued 5.When I made this I linked my spreadsheet so you may have some small rounding 6. List the expenses in order of magnitude (biggest first) 7. A cash dividend for $13,000 was declared on 9-28-2022 to be paid 10-7-2022, this has not been recorded 8. The company uses the FIFO inventory method 9. Based on the Accounts receivble aging method the allowance should be 7,000 Project: 1. Make a Balance Sheet in Good Form 2. Make an Income Statement in Good Form 3 Make a Statement of Equity

Important Notes 1. The income tax rate is 5% 2. ' $25,000 of the long-term note payable is due in the current year 3. The investment account is considered short-term in nature 1 4. At this point no taxes have been accrued 2 5.When I made this I linked my spreadsheet so you may have some small rounding 3 6. List the expenses in order of magnitude (biggest first) 4 7. A cash dividend for $13,000 was declared on 9282022 to be paid 1072022, thi 8. The company uses the FIFO inventory method 9. Based on the Accounts receivble aging method the allowance should be 7,000 Project: 1. Make a Balance Sheet in Good Form 1 2. Make an Income Statement in Good Form 2 Make a Statement of Equity