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Create an income statement, statement of retained earnings, income statement, and post closing trial balance. Trial Balance December 31, 2018 Account Title Debit Credit Cash
Create an income statement, statement of retained earnings, income statement, and post closing trial balance.
Trial Balance December 31, 2018 Account Title Debit Credit Cash $ 124,000 Accounts Receivable $ 96,000 Allowance for Doubtful accounts 2,400 Inventory $ 54,115 Prepaid Rent $ 24.000 Supplies $ 6,000 Land $ 48,000 Building $ 250,000 Equipment $ 75,000 Accumulated Depreciation, Building $ 50,000 Accumulated Depreciation Equipment $ 21.000 Goodwill $ 35,500 Patent $ 15,500 Accounts Payable $132.715 Notes Payable $ 178,000 Uneamed Service Revenue $ 122,000 Common Stock $ 96,000 Retained Earnings $ 126,000 Revenue $ 689.000 Salary Expense $ 440,000 Cost of Goods Sold $ 201,000 Advertising Expense $ 15,000 Rent Expense $ 32,000 Miscellaneous Expense $ 1,000 $ 1.417.115 $ 1.417.115 Adjusted Trial Balance December 31, 2018 Debit Credit Account Title Cash $119,000 115,000 $ $ 4,025 $ $ Accounts Recieveable Allowance for Doubtful Accounts Inventory Prepaid Rent Supplies Land Building Equipment Accumulated Depreciation Buildings Accumulated Depreciation Equipment Goodwill 79,115 8,000 1,200 48,000 250,000 60,000 $ $ 62,500 25,000 $ 31,950 27,370 $ 157,715 178,000 104,000 96,000 126,000 731,000 $ $ Patent Accounts Payable Notes Payable Unearned Service Revenue Common Stock Retained Earnings Revenue Salary Expense Costs of Goods Sold Advertising Expense Rent Expense Miscellaneous Expense Supplies Expense Depreciation Expense Salaries Payable Loss on Sales of Equipment Amortization Expense Market Decline Inventory Bad Debt Expense Allowance to Reduce Inventory $ 444,500 201,000 15,000 48,000 1,000 4,800 19,500 $ $ 4,500 $ 2,000 6,680 3,858 6,625 3,858 $ 1,492,598 $ 1,492,598
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