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Dr. Set forth below is the adjusted trial balance for Alpha Company, which just completed its fiscal year ended December 31st, 2008. A $1,600 installment
Dr. Set forth below is the adjusted trial balance for Alpha Company, which just completed its fiscal year ended December 31st, 2008. A $1,600 installment is due on the Note Payable during 2009. Accounts Cr. Cash 7.000 Accounts Receivable 7,200 Inventory 4,300 Prepaid Insurance 200 Equipment 20,300 Accumulated Depreciation 3,600 Accounts Payable 5,600 Salaries Payable 400 Interest Payable 100 Note Payable 8,000 Capital 19,900 Withdrawals 12,000 Sales 36,200 Sales Returns and Allowances 2,400 Sales Discounts 1,100 Cost of Goods Sold 15,700 Salaries Expense 5,500 Rent Expense 2,600 Utilities Expense 1.800 Depreciation Expense 900 Insurance Expense 700 Interest Expense 400 2,400 1,100 15,700 5,500 2,600 Sales Returns and Allowances Sales Discounts Cost of Goods Sold Salaries Expense Rent Expense Utilities Expense Depreciation Expense Insurance Expense Interest Expense Loss on Sale of Fixed Assets 1,800 900 700 400 1,700 73,800 73,800 Calculate the following numbers: Net Sales Gross Profit: Operating Income: Net Income
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