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Create a balance sheet and income statement from the following trial balance. Opening Balance Sheet Credit Debit 557,016,667 60,000,000 3,000,000 13,000,000 1,500,000 13,933,333 180,000,000 1,500,000
Create a balance sheet and income statement from the following trial balance.
Opening Balance Sheet Credit Debit 557,016,667 60,000,000 3,000,000 13,000,000 1,500,000 13,933,333 180,000,000 1,500,000 35,700,000 230,750,000 50,000,000 9,360,000 600,000 1,320,000 Adjusted Trial Balance 557,016,667 60,000,000 (3,000,000) 13,000,000 1,500,000 13,933,333 180,000,000 (1,500,000) 35,700,000 (230,750,000) (50,000,000) (9,360,000) (600,000) (1,320,000) (720,000) (200,000,000) (1,966,667) (45,000,000) (330,000,000) 31,200,000 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Supplies Pre-Paid Expense Property Plant and Equipment Accumulated Depreciation Patent Accounts Payable Unearned Revenue Salaries and Wages Payable FICA Withholding Payable Federal Income Tax Payable State Income Tax Payable Payable Bond Payable Premium/Discount Common Stock Additional Paid In Capital Treasury Stock Retained Earnings Revenue Cost of Goods Sold Insurance Expense Rent Expense Salaries and Wages Expense Payroll Tax Expense Depreciation Expense Amortization Expense (Patent) Bad Debt Expense Supplies Expense Interest Expense Totals 720,000 200,000,000 1,966,667 45,000,000 330,000,000 31,200,000 100,000,000 62,000,000 266,667 1,000,000 12,000,000 (100,000,000) 62,000,000 266,667 1,000,000 12,000,000 1,500,000 300,000 3,000,000 1,000,000 800,000 974,216,667 1,500,000 300,000 3,000,000 1,000,000 800,000 974,216,667 Note: ITEMS IN WHITE ARE ITEMS THAT COULD BE FILLED IN BY YOU. JUST BECAUSE IT IS WHITE, DOES NOT MEAN THERE HAS TO BE SOMETHING THERE. Mason Automation Multiple Step Income Statement-Fiscal Month End 1/31/2018 (Enter Account Description) (Enter Account Description) Total Revenue (Enter Account Description) (Enter Account Description) Gross Profit Operating Expenses (Selling and Administrative) (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) Total Operating Expenses Net Income Fill this number in Note: ITEMS IN WHITE ARE ITEMS THAT COULD BE FILLED IN BY YOU. JUST BECAUSE IT IS WHITE, DOES NOT MEAN THERE HAS TO BE SOMETHING THERE. Mason Automation Balance Sheet-Month End 1/31/2018 Assets Liabilities and Stockholders Equity Current Assets Current Liabilities (Enter Account Description) |(Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description Net (Accounts Receivable): Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) Enter Account Description) (Enter Account Description) Enter Account Description Total Current Assets Total Current Liabilities Property Plant and Equipment (Enter Account Description) (Enter Account Description Total Property Plant and Equipment Long Term Liabilities (Enter Account Description (Enter Account Description) (Enter Account Description) Total Long Term Liabilities Total Liabilities Intangible Assets (Enter Account Description) Total Intangible Assets Total Assets Stockholder's Equity Enter Account Description) |(Enter Account Description) (Enter Account Description (Enter Account Description) Total Stockholder's Equity Total Liabilities and Stockholders Equi Check FigureStep by Step Solution
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