Do year end adjustments

12/31/21 Post Closing Trial Balance 12/31/22 Pre Closing Trial Balance Account Name Debits Credits Debits Credits 10100 Cash $11,025.19 $109,582.45 10200 Accounts receivable $11,065.00 $44,977.00 10210 Accounts receivable from employees 10300 Allowance for doubtful accounts $3,250.81 $1,149.19 10400 Inventory $101,681.00 $101,681.00 10500 Prepaid expense 10600 Marketable securities $24,000.00 10700 Interest receivable 10800 Fixed assets $320,665.00 $329,288.10 10900 Accumulated depreciation $81,559,50 $116,213.20 11000 Notes receivable $5,736.35 20100 $11,279.35 Accounts payable 20200 Wages and salaries payable 20200 Wages and salaries payable 20300 Federal income taxes withheld $878.81 $1,137.00 20400 $663.10 $447.95 State income taxes withheld 20500 $115.11 $281.17 State unemployment taxes payable 20600 $19.45 Federal unemployment taxes payable $83.31 20700 $2,252.58 F.I.C.A. taxes payable $1,593.30 20800 Federal income taxes payable $29,797.00 20900 Dividends payable 21000 Interest payable 21100 $90,000.00 Notes payable 21200 Unearned revenue 26000 Common stock $225,000.00 $225,000.00 27000 Paid in capital Account Name 27000 Paid in capital 28000 Income summary 29000 Retained earnings $90,264.99 $90,264.99 29010 Dividends declared 30100 Sales $1,588,766.00 30200 Sales returns and allowances $62,181.00 30300 Sales discounts taken $15,405.82 30400 Cost of goods sold 30500 Purchases $1,138,070.00 30600 Purchases returns and allowances $19,445.00 30700 Purchases discounts taken $16,752.70 30800 Freight-in $24,897.84 30900 Gain/loss on sale of fixed assets 31000 Gain/loss on sale of marketable securities 31100 Interest/dividends income 31200 Miscellaneous revenue $825.00 40100 Rent expense $57,600.00 40200 Advertising expense $22,395.00 40300 Office supplies expense $5,892.55 40400 Depreciation expense $34,653.70 40500 Wages and salaries expense $140,187.61 40600 Payroll tax expense $12,003,47 40700 federal income tax expense 40800 Interest expense 40900 Bad debt expense 40300 Office supplies expense $5,892.55 40400 Depreciation expense $34,653.70 40500 Wages and salaries expense $140,187.61 40600 Payroll tax expense $12,003.47 40700 federal income tax expense 40800 Interest expense 40900 Bad debt expense 41000 Other operating expense $33,225.75 Sub Total $444,436.19 $444,436.19 $2,157,190.48 $2,157,190.48 Income Summary Total 12/31/21 Post Closing Trial Balance 12/31/22 Pre Closing Trial Balance Account Name Debits Credits Debits Credits 10100 Cash $11,025.19 $109,582.45 10200 Accounts receivable $11,065.00 $44,977.00 10210 Accounts receivable from employees 10300 Allowance for doubtful accounts $3,250.81 $1,149.19 10400 Inventory $101,681.00 $101,681.00 10500 Prepaid expense 10600 Marketable securities $24,000.00 10700 Interest receivable 10800 Fixed assets $320,665.00 $329,288.10 10900 Accumulated depreciation $81,559,50 $116,213.20 11000 Notes receivable $5,736.35 20100 $11,279.35 Accounts payable 20200 Wages and salaries payable 20200 Wages and salaries payable 20300 Federal income taxes withheld $878.81 $1,137.00 20400 $663.10 $447.95 State income taxes withheld 20500 $115.11 $281.17 State unemployment taxes payable 20600 $19.45 Federal unemployment taxes payable $83.31 20700 $2,252.58 F.I.C.A. taxes payable $1,593.30 20800 Federal income taxes payable $29,797.00 20900 Dividends payable 21000 Interest payable 21100 $90,000.00 Notes payable 21200 Unearned revenue 26000 Common stock $225,000.00 $225,000.00 27000 Paid in capital Account Name 27000 Paid in capital 28000 Income summary 29000 Retained earnings $90,264.99 $90,264.99 29010 Dividends declared 30100 Sales $1,588,766.00 30200 Sales returns and allowances $62,181.00 30300 Sales discounts taken $15,405.82 30400 Cost of goods sold 30500 Purchases $1,138,070.00 30600 Purchases returns and allowances $19,445.00 30700 Purchases discounts taken $16,752.70 30800 Freight-in $24,897.84 30900 Gain/loss on sale of fixed assets 31000 Gain/loss on sale of marketable securities 31100 Interest/dividends income 31200 Miscellaneous revenue $825.00 40100 Rent expense $57,600.00 40200 Advertising expense $22,395.00 40300 Office supplies expense $5,892.55 40400 Depreciation expense $34,653.70 40500 Wages and salaries expense $140,187.61 40600 Payroll tax expense $12,003,47 40700 federal income tax expense 40800 Interest expense 40900 Bad debt expense 40300 Office supplies expense $5,892.55 40400 Depreciation expense $34,653.70 40500 Wages and salaries expense $140,187.61 40600 Payroll tax expense $12,003.47 40700 federal income tax expense 40800 Interest expense 40900 Bad debt expense 41000 Other operating expense $33,225.75 Sub Total $444,436.19 $444,436.19 $2,157,190.48 $2,157,190.48 Income Summary Total