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i | | Blu-|E Font Paste Format Painter Clipboard E11 Financial Data of Bob's Bacon House Inc, as of January 1 20XX 200,500 165,700 350,000 40,000 Accounts Payable Account Recervable Accumulsted Depreciation's Additional Paid-In Capital Allowance for Doubtful Accounts 2,650 Allowance for Doubtful Accounts 6 1,120,000 45,300 544,850 112,000 375 Cash Common Stock 10Copyrights Customer Deposits (expected to 11 be paid in 20 12Goodwil 13income Taxes Payable 14 Inventories @ S25/unt 42,340 Long-term investments in Warren 95,630 15 Co Deposits With Vendors Land 47.200 125,000 ortgage Payable ($2,780 per 18 667,200 2% Notes Payable to Banks (due 26,000 16,000 219.335 127,500 115,000 600,000 able (due 20XX 3% Bonds, Due Beginning alan AnnualT arch 3 Cash 4 Account Receivable 45,300 165,700 5 Allowance for Doubtful Accounts 6 Notes Receivable (due 20XX) 7 Inventories@$25/unit 8 Long-term Investments in Warren Co 9 Land 10 Building and Equipment 1 Accumulated Depreciation's 12 Copyrights 13 Patents 14 Trademarks 15 Goodwill 16 Deposits With Vendors 7 Accounts Payable 18 Income Taxes Payable 2,650 16,000 315,250 95,630 125,000 1,120,000 350,000 112,000 219,335 115,000 225,000 47,200 200,500 42,340 375 26,000 667,200 600,000 544,850 40,000 127,500 19 Customer Deposits (expected to be paid in 20xXx) 20.2% Notes Payable to Banks (due 20XX) 21 Mortgage Payable ($2,780 per month) 22. Twenty-year, 3% Bonds, Due 1/1/20XX 23 Common Stock 24 Additional Paid-In Capital 25 Retained Earnings 26 27 H Gradng Rubrics Balan inn Annual T Ready wrap Text ,|12. IA" A. Blu113-a- ,.1 Merge & Center, $. % General |||Arial Copy Format Painter Numb Font Alignment board 15 Financial Data of Bob's Bacon House Inc. for the Year 20XX Finished Goods inventory purchased from suppliers on account 2/10/20xX 10,000 units@ $26 each 6/12/20xX 15,000 units@$28 each 10/23/20XX 12,000 units@$29 each 11/25/20xx 8,000 units @ S30 each Bob's Bacon House Inc uses periodic inventory system and LIFO costing method. All purchases and sales are made on account Sales made to customers on account are 49 356 units@$36 each Bob's 7 building and equipment was $120,000 with a book value of $95,000. During 20XX, Bacon House Inc. was operating a retail store in Chicago. Original cost of Bob's Bacon House Inc wants to make an allowance for doubtful debts at 2% on accounts receivable for the year 20XX 8 Selling and administrative expenses are $128,475. These expenses include $56,000 depreciation expense on building and equipment but exclude bad debts expenses income tax expense paid is $90,500. Bob's Bacon House income tax rate for 20Xx is 10 30% Annual T Type here to search G32 General Journal Debit Credit Account Name No 260,000 1 Inventory Accounts payable To record for inventory purchased from suppliers) 348,000 240,000 1,268,000 2 Accounts Payable 1,124,450 Cash 1,124,450 To record for payment made to supplier) 3 Account Receivable 1,776,816 1,776,816 Sales Revenue To record for payments from customers) 4 Account Receivable 1,750,700 1,750,700 Cash To record cash collected from customers) 5 Interest Expense 17,415 Cash 17,415 19 20 21 To record for total interest paid) To record for property leased using rental income) Loss on sale of building and equipment 25,650 6 Cash Rental Revenue 25.650 23 24 25 26 59.200 35,800 25,000 7 Cash Accumulated Depreciation Begonng H Grading Rubrics Beginning Balances Ready py Blu-Tirio-a-l |Merge & Center | rmat Painter Font Alignment To record for total interest paic 6 Cash 25,650 Rental Revenue 25,650 To record for property leased using rental income 7Cash 59,200 35,800 25,000 Loss on sale of building and equipment Accumulated Depreciation Building and Equipment To record for disposal of the storel 120,000 8 Bad Debt Expense 522 Allowance for doubtful debts 522 To record doubtful debts made 9 Selling and Administrative expenses 128,475 (56,000 Cash To record for selling and administration expenses being paid) 10 Income tax Expense 72,475 90,500 Cash To record for income tax being paid) 90,500 Font ar Alignment Number 8 Bobs Bacon House The General Ledger January 1, 20xX Accounts Payable Cash Sales Revenue 45.300 1,750,700 25,650 56,000 1,124,450 7,415 90,500 43,435 59,200 200,500 1,268,000 1.776,8 Rental Revenue 25,65 .335,000 1,877.650 Cost of Goods Sold 240,000 542,650 Customer Deposits Accounts Receivable 165,700 Selling Expenses 128,475 375 Uncollectible Accounts Expense 1 65,700 522 nferest Expense Noles Payable Allowance for Doubtful Accounts 17.415 26,000 2.650 /format Painter B 1 u.-..,.a- 1 u. |.ild. . Merge & Center. t HMerge & Center, f $ s-% , ta: % , Fo board Font Alignment Number K25 Allowance for Doubfful Accounts Notes Payable Inferest Expense 2,650 26,000 17,415 2.650 Mortgage Payable Noes Receivable 6,000 Income Tax Expense 667.200 667,200 Inventory Bonds Payable loss on Discontinued Ops 315,250 600,000 25,000 315.250 Long-term Investments 95,630 Inferest Payable Income Taxes Payable 42.340 17415 17,415 42-340 Common Stock Land 544,850 125,000 Additional Paid In Copilal Buildings and Equipment ,120,00 1,120,000 40.000 46 47 48 17415 95,630 38 39 40 41 42 17,415 Common Stock land 544,850 125,000 43 Buildings and Equipment 1,120,000 1.120,000 Additional Paid-In Capital 45 40,000 46 47 48 49 50 51 Accumulated Depreciation Refained Earnings 350.000 127,500 52 350,000 Copyrights 54 112.000 Trademarks 115,000 Goodwill 58 59 60 61 225,000 Deposits with Vendors 47,200 Patents 63 219.335 Bobs Bacon House Trial Balance December 31, 20XX Account Title Balance 542,650 165,700 7 3 Cash 4 Account Receivable 2,650 5 Allowance for Doubtful Accounts 16,000 315,250 95,630 125,000 1,120,000 6 Notes Receivable (due 20XX) 7 Inventories @ $25/unit 8 Long-term Investments in Warren Co. 9 Land 10 Building and Equipment 11 Accumulated Depreciation's 12 Copyrights 350,000 112,000 219,335 115,000 225,000 47,200 13 Patents 14 Trademarks 15 Goodwill 16 Deposits With Vendors 17 Accounts Payable 18 Income Taxes Payable 200,500 42,340 17,415 375 26,000 667,200 600,000 544,850 40.000 19 Interest Payable 20 Customer Deposits (expected to be paid in 20Xx) 21,2% Notes Payable to Banks (due 20XX) 22 Mortgage Payable ($2,780 per month) 23|Twenty-year, 396 Bonds. Due 1/1/20XX 24 Common Stock 25 Additional Paid-In Capital K Grading Rubrics Beginning Balanc 115,000 225,000 47,200 demarks odwill posits With Vendors counts Payable come Taxes Payable terest Payable ustomer Deposits (expected to be paid in 20XX) % Notes Payable to Banks (due 20XX) ortgage Payable (52,780 per month) Twenty-year, 3% Bonds, Due 1/1/20XX Common Stock Additional Paid-In Capital Retained Earnings Sales Revenue 200,500 42,340 17,415 375 26,000 667,200 600,000 544,850 40,000 127,500 1,776,816 Rental Revenue Cost of Goods Sold Selling Expenses 25,650 240,000 128,475 522 17,415 44,345 35,800 Uncollectible Account Expense 2 Interest Expense 3 Income Tax Expense 4 Loss on Discontinued Operations 5 36 37 38 39 i | | Blu-|E Font Paste Format Painter Clipboard E11 Financial Data of Bob's Bacon House Inc, as of January 1 20XX 200,500 165,700 350,000 40,000 Accounts Payable Account Recervable Accumulsted Depreciation's Additional Paid-In Capital Allowance for Doubtful Accounts 2,650 Allowance for Doubtful Accounts 6 1,120,000 45,300 544,850 112,000 375 Cash Common Stock 10Copyrights Customer Deposits (expected to 11 be paid in 20 12Goodwil 13income Taxes Payable 14 Inventories @ S25/unt 42,340 Long-term investments in Warren 95,630 15 Co Deposits With Vendors Land 47.200 125,000 ortgage Payable ($2,780 per 18 667,200 2% Notes Payable to Banks (due 26,000 16,000 219.335 127,500 115,000 600,000 able (due 20XX 3% Bonds, Due Beginning alan AnnualT arch 3 Cash 4 Account Receivable 45,300 165,700 5 Allowance for Doubtful Accounts 6 Notes Receivable (due 20XX) 7 Inventories@$25/unit 8 Long-term Investments in Warren Co 9 Land 10 Building and Equipment 1 Accumulated Depreciation's 12 Copyrights 13 Patents 14 Trademarks 15 Goodwill 16 Deposits With Vendors 7 Accounts Payable 18 Income Taxes Payable 2,650 16,000 315,250 95,630 125,000 1,120,000 350,000 112,000 219,335 115,000 225,000 47,200 200,500 42,340 375 26,000 667,200 600,000 544,850 40,000 127,500 19 Customer Deposits (expected to be paid in 20xXx) 20.2% Notes Payable to Banks (due 20XX) 21 Mortgage Payable ($2,780 per month) 22. Twenty-year, 3% Bonds, Due 1/1/20XX 23 Common Stock 24 Additional Paid-In Capital 25 Retained Earnings 26 27 H Gradng Rubrics Balan inn Annual T Ready wrap Text ,|12. IA" A. Blu113-a- ,.1 Merge & Center, $. % General |||Arial Copy Format Painter Numb Font Alignment board 15 Financial Data of Bob's Bacon House Inc. for the Year 20XX Finished Goods inventory purchased from suppliers on account 2/10/20xX 10,000 units@ $26 each 6/12/20xX 15,000 units@$28 each 10/23/20XX 12,000 units@$29 each 11/25/20xx 8,000 units @ S30 each Bob's Bacon House Inc uses periodic inventory system and LIFO costing method. All purchases and sales are made on account Sales made to customers on account are 49 356 units@$36 each Bob's 7 building and equipment was $120,000 with a book value of $95,000. During 20XX, Bacon House Inc. was operating a retail store in Chicago. Original cost of Bob's Bacon House Inc wants to make an allowance for doubtful debts at 2% on accounts receivable for the year 20XX 8 Selling and administrative expenses are $128,475. These expenses include $56,000 depreciation expense on building and equipment but exclude bad debts expenses income tax expense paid is $90,500. Bob's Bacon House income tax rate for 20Xx is 10 30% Annual T Type here to search G32 General Journal Debit Credit Account Name No 260,000 1 Inventory Accounts payable To record for inventory purchased from suppliers) 348,000 240,000 1,268,000 2 Accounts Payable 1,124,450 Cash 1,124,450 To record for payment made to supplier) 3 Account Receivable 1,776,816 1,776,816 Sales Revenue To record for payments from customers) 4 Account Receivable 1,750,700 1,750,700 Cash To record cash collected from customers) 5 Interest Expense 17,415 Cash 17,415 19 20 21 To record for total interest paid) To record for property leased using rental income) Loss on sale of building and equipment 25,650 6 Cash Rental Revenue 25.650 23 24 25 26 59.200 35,800 25,000 7 Cash Accumulated Depreciation Begonng H Grading Rubrics Beginning Balances Ready py Blu-Tirio-a-l |Merge & Center | rmat Painter Font Alignment To record for total interest paic 6 Cash 25,650 Rental Revenue 25,650 To record for property leased using rental income 7Cash 59,200 35,800 25,000 Loss on sale of building and equipment Accumulated Depreciation Building and Equipment To record for disposal of the storel 120,000 8 Bad Debt Expense 522 Allowance for doubtful debts 522 To record doubtful debts made 9 Selling and Administrative expenses 128,475 (56,000 Cash To record for selling and administration expenses being paid) 10 Income tax Expense 72,475 90,500 Cash To record for income tax being paid) 90,500 Font ar Alignment Number 8 Bobs Bacon House The General Ledger January 1, 20xX Accounts Payable Cash Sales Revenue 45.300 1,750,700 25,650 56,000 1,124,450 7,415 90,500 43,435 59,200 200,500 1,268,000 1.776,8 Rental Revenue 25,65 .335,000 1,877.650 Cost of Goods Sold 240,000 542,650 Customer Deposits Accounts Receivable 165,700 Selling Expenses 128,475 375 Uncollectible Accounts Expense 1 65,700 522 nferest Expense Noles Payable Allowance for Doubtful Accounts 17.415 26,000 2.650 /format Painter B 1 u.-..,.a- 1 u. |.ild. . Merge & Center. t HMerge & Center, f $ s-% , ta: % , Fo board Font Alignment Number K25 Allowance for Doubfful Accounts Notes Payable Inferest Expense 2,650 26,000 17,415 2.650 Mortgage Payable Noes Receivable 6,000 Income Tax Expense 667.200 667,200 Inventory Bonds Payable loss on Discontinued Ops 315,250 600,000 25,000 315.250 Long-term Investments 95,630 Inferest Payable Income Taxes Payable 42.340 17415 17,415 42-340 Common Stock Land 544,850 125,000 Additional Paid In Copilal Buildings and Equipment ,120,00 1,120,000 40.000 46 47 48 17415 95,630 38 39 40 41 42 17,415 Common Stock land 544,850 125,000 43 Buildings and Equipment 1,120,000 1.120,000 Additional Paid-In Capital 45 40,000 46 47 48 49 50 51 Accumulated Depreciation Refained Earnings 350.000 127,500 52 350,000 Copyrights 54 112.000 Trademarks 115,000 Goodwill 58 59 60 61 225,000 Deposits with Vendors 47,200 Patents 63 219.335 Bobs Bacon House Trial Balance December 31, 20XX Account Title Balance 542,650 165,700 7 3 Cash 4 Account Receivable 2,650 5 Allowance for Doubtful Accounts 16,000 315,250 95,630 125,000 1,120,000 6 Notes Receivable (due 20XX) 7 Inventories @ $25/unit 8 Long-term Investments in Warren Co. 9 Land 10 Building and Equipment 11 Accumulated Depreciation's 12 Copyrights 350,000 112,000 219,335 115,000 225,000 47,200 13 Patents 14 Trademarks 15 Goodwill 16 Deposits With Vendors 17 Accounts Payable 18 Income Taxes Payable 200,500 42,340 17,415 375 26,000 667,200 600,000 544,850 40.000 19 Interest Payable 20 Customer Deposits (expected to be paid in 20Xx) 21,2% Notes Payable to Banks (due 20XX) 22 Mortgage Payable ($2,780 per month) 23|Twenty-year, 396 Bonds. Due 1/1/20XX 24 Common Stock 25 Additional Paid-In Capital K Grading Rubrics Beginning Balanc 115,000 225,000 47,200 demarks odwill posits With Vendors counts Payable come Taxes Payable terest Payable ustomer Deposits (expected to be paid in 20XX) % Notes Payable to Banks (due 20XX) ortgage Payable (52,780 per month) Twenty-year, 3% Bonds, Due 1/1/20XX Common Stock Additional Paid-In Capital Retained Earnings Sales Revenue 200,500 42,340 17,415 375 26,000 667,200 600,000 544,850 40,000 127,500 1,776,816 Rental Revenue Cost of Goods Sold Selling Expenses 25,650 240,000 128,475 522 17,415 44,345 35,800 Uncollectible Account Expense 2 Interest Expense 3 Income Tax Expense 4 Loss on Discontinued Operations 5 36 37 38 39