FILL THE ASSET PORTION OF THE BALANCE SHEET

Directions:

Bearcat, LLP is auditing Dumbledore Manufacturing, Inc. (DMI), a privately-held company, for the year ended December 31, 2019. You are the staff auditor responsible for preparing the financial statements. With the unadjusted trial balance provided, you are responsible for the following:

1. Recording any adjusting journal entries based on audit findings on both the trial balance and the AJE report. Dont forget to add a description.
2. Accumulating any passed adjusting journal entries based on audit findings and determining whether income effect of entries is below materiality.
3. Creating the financial statements, including the Balance Sheets, Income Statements, Statements of Comprehensive Income, Changes in Stockholders Equity and Cash Flows for the years ending December 31, 2019 and 2018.
   1. In the excel file provided, you are to use formulas for every input cell to show where you got each number. Some of the formulas have been provided for you as a start (dont change any of the pre-populated formulas!).

Deliverable:

You must turn in the excel file Financial Statement Exercise by Thursday July 30^th at 11:59PM.

General Audit Planning Information:

Materiality = $40,000

PAJE Scope = $2,000

Audit Findings:

1. When auditing accounts receivable, it was determined that DMI incorrectly billed a customer. Invoice #4H9JMP should have been for 100 crates, but instead it was for 1,000 crates (keying error). DMI was contacted by the customer in January and realized this was an error which they wanted to correct on the 2019 trial balance and Bearcat LLP will record an adjusting entry for. Sales price per crate was $190 and the cost per crate was $100.

2. When auditing prepaid expenses, it was discovered that the prepaid insurance account was overstated by $7,500. DMI does not want to record an adjusting entry to correct for the outage.

3. When auditing other assets, it was determined that DMI did not amortize goodwill in 2019 as they intended to for the acquisition that occurred on 12/31/18. Goodwill is amortized over 10 years. DMI realized that in order to keep the account on track for the 10 year amortization they needed to record an entry to correct this in 2019 and Bearcat LLP will record an adjusting entry.

4. When auditing accrued expenses, it was discovered that DMI failed to accrue for the last pay period of December wages. DMIs pay schedule is bi-weekly (10 working days) and the payroll report for that full 2-week period leading up to the end of the year totaled $352,000. Per review of the calendar, 7 days should have been accrued for at December 31, 2019. Payroll expenses are allocated in the following manner:
   1. COGS 50%
   2. Salary 30%
   3. Hourly 20%

Due to the magnitude of the error, DMI needs to record an adjusting entry to correct.

5. When performing the search for unrecorded liabilities test, it was discovered that an invoice relating to 2019 services was incorrectly excluded from the accounts payable aging. Total additional expense to record dues/subscription/seminars expense #74650 was $1,850 which extrapolated to $25,674. DMI does not want to record an adjusting entry to correct as this is an extrapolated number versus an actual known error.

6. When auditing the bank reconciliation for the Cash Operating account at Chase, a $450 error was discovered. The client will not correct until the January 2020 bank reconciliation process.

2019 Information needed for Cash Flow Statement:

• There were no sales of investment securities. The only two items effecting the investment line will be purchases of $875,410 and change in unrealized gain. (Unrealized change will equal OCI change and should be a non-cash item)
• Information needed for fixed assets is on the fixed asset rollforward tab
• There were no additional borrowings on notes payable
• There were no additional borrowings on long-term debt

Helpful Hints:

You need to convert from debit/credit format to absolute value for presentation purposes. (i.e. Do not show negative value of sales, liabilities, equity, etc.) Net income needs to be a positive number.

Line 11 on the Statements of Changes in Stockholders Equity have been filled in for you. The change in fair value of investments from December 31, 2017 to December 31, 2018 was $30,000. This has been filled in for you in line 19 and on the Statements of OCI. Do not change these numbers.

Lines 12-36 of the 2018 cash flow have been filled out do not change these numbers. Everything else for both 2019 and 2018 must be filled in by you.

If a line item description takes up 2 excel rows, enter your number in the bottom row. (On Balance Sheet - Investments balance goes in row 13 not row 12, A/R goes in row 15 not row 14, etc.)

You must fill in the amortization expense for the goodwill description in row 34 of the Balance Sheet.

Financial Statements - Exercise Summer 2020 [Protected View] - Excel (Product Activation Failed File Home Insert Page Layout Formulas Data Review View Tell me what you want to do.. Sign in & Share O PROTECTED VIEW Be canctul files from the Internet can contain viruses. Unless you need to edit it's safer to stay in Protected Vicw. Enable Editing X C13 X INVESTMENTS VANGUARD A c. E G 1 K M N O P AJE FINAL 12/31/2013 251,740.00 3,500.00 100.00 618,507.00 (50,000.00) 9,330,632.00 395,833.00 1 2 Grouping 3 Cash 4 Cash 5 Cash 6 Mounts receivable / Acounts receivable 8 Inventory 9 Inventory 10 Prepaid expenses 11 Prepaid expenses 12 Prepaid expenses 13 Investments 14 Investments 13 Land 16 Office ceuipment 17 Buildings and improvements 18 Autos and trucks 19 Machinery and equipment 20 Office equipment 21 Office Guipment 22 Office equipment 23 Accumulated depreciation 24 Accumulated depreciation 25 Accumulated depreciation 26 Accumulated depreciation 27 Acumulated depreciation 28 Maulated depreciation 29 Cash surrender value of life insur 30 Goodwill 31 Goodwill 32 Accounts payable 33 Une of credit 34 Current portion of nato payable 35 Notes payable 36 Current portion of long-term deat 3/ Long-term debt 38 Accrued expenses 29 Accrued expenses 40 Accrued wagas 41 Accrued wages Trial Balance AJES Acct Acct Description 10060 Cash - Operating Chase 1GB4 10070 Cash in Bank PNC 1000 Petty CM 11100 A/R - TRADE 11150 ALLOW DOUBTFUL ACCOUNTS 12010 INVENTORY 12300 W.I.P. PARTS & LALOR 13120 PPD. LIABILITY INSURANCE 13160 PPD. WORKERS COMP. 13150 PPD. OTHER 14500 INVESTMENTS - VANGUARD 14600 INVESTMENTS-VALUATION ACCOUNT 15100 LAND 15170 COMPUTER/CATALOG EQUIPMENT 15180 Buildings & Improvements 15190 Autos & Trucks 15200 Machinery & Equipment 1.5350 Office Equipment 15100 Phone System 15930 Computerwstem 16190 A/D - Buildings & Improvements 16190 A/D Autos & Trucks 16200 A/D Machinery & Equipment 15350 A/D Office Equipment 16300 A/D.Phone System 16130 D-Computer System 17150 CASH SURRENDER VALUE-LF 1/000 GOODWILL 17050 ACCUM W/DOWN-GOODWILL 20380 Accounts Payable 21110 Une of Credit Chase 21250 N/P-INSURANCE/AUTO LOANS - CURRENT 21250 N/P-INSURANCE AUTO LOANS 21290 LONG-TERM DCOT - HUNTINGTON - CURRENT 21300 LONG-TERM DEVI - HUNTINGTON 24150 SALES TAX-OHIO 27400 ACCRUED INTEREST EXP 27550 ACCRUED SALARIES 27560 ACCRUED BONUS - MGMT PAJES Assels Liabilities Inc Sim Sims OCI D UNADU 12/01/2019 947,251.00 2,000.00 100.00 78,185.00 (90,000.00) 7,532,433.00 664,950.00 99.000.00 7,500.00 41,600.00 3,975,410.00 90,000.00 100,000.00 42.710.00 1,385,000.00 G51,458.00 3,2R5, 460.00 TRASO.00 35,854.00 204, 75.00 (054,000.00) (370,646.00) 12,323,294.00) (100,962.00) (25,911.00) (143,002.00) 2,500,588.00 100,000.00 F FINAL 12/21/2019 947,251.00 2,000.00 4000 102.00 783,185.00 [80,000.00) 7,523,432.00 664,950.00 s0.000.00 7,500.00 41,600.00 3.975, 110.00 50,000.00 100,000.00 42,710.00 1.385,000.00 GS1,458.00 3,785,460.00 75L 35,851.00 204,785.00 (094,000.00 1370,646.00 (2.323,294.00) (100,962.00) 135,911.00 (143,002.001 2.500,585.00 100,000.00 18.690.00 31,800.00 3,100,000.00 80,000.00 100,000.00 30,150.00 1,350,000.00 835,602.00 3.684.105.00 7R.ASO. 35,854.00 145,050.00 (536,400.00) (503,152.00 (2.818,238.00) 174,951.00) (23, 114.00) (123.926.00) 2,400,505.00 100,000.00 (214,940.00) (843.621.00) (17.500.00) (172,281.00) (150,000.00 (524,000.00) 18.239.00) (12.375.00) 1214,940.00) (435,505.00 (348,621.00 (1.125,475.00 (17,500.00) . (15,000.00) (172,216.00 (129,706.20) (150,000.00) (100,000.00) (524,000.00 (639,000.00) 18,339.00) 17,895.00) (12.57.00) (14,385.00 (247,759.00) (345,000.00 (374,000.00) SCFP Fixed Assel Rollforward Simo (345,000.00 Simtul Equity Cash Flows Ready Type here to search x! w3 P 3:03 PM 7/28/2020 Financial Statements - Exercise Summer 2020 [Protected View] - Excel (Product Activation Failed File Home Insert Page Layout Formulas Data Review View Tell me what you want to do.. Sign in & Share PROTECTED VIEW Be canctul files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing X C13 X f INVESTMENTS VANGUARD G K M N O P A 42 Accrued wares 43 Accrued wages 14 Accrued expenses 45 Accrued expenses 46 Anrued expenses 47 Muud expenses 48 Common stock 49 Additional puid-in capital 50 Accumulated other comprehensive (Income) les 51 Retained earnings 52 Retained earnings 53 Sales 54 Sales 55 Sales 30 Sales 57 Sales 58 Sales 59 Cost of Goods Sold 50 Operating Expenses 61 Operating Expenses 62 Operating Expenses 03 Operating expenses 04 Operating Expenses 06 Operating Expenses 06 Operating Expenses 67 Operating Expenses GACperating Expenses 69 Operating Expenses 70 Operating expenses 71 Operating Expenses T2 Operating Expenses 73 Operating Expenses 74 Operating Expenses 75 Operating Expenses 76 Cperating Expenses 77 Operating Expenses 0 Operating expenses 79 Operating Expenses 80 Operating Expenses 31 Operating Expenses 82 Operating Expenses Trial Balance AJES PAJES D E 27380 ACCRUED BONUS - EXEC (281,000.00 27000 ACCRUED COMMISSIONS (34,812.00) 27610 ACCRUED LEGAL FEES (15,000.00) 27620 ACCRUED CPA FEES (20,000.00) 27950 MOCRUFD OTHER - AMEX OC 19,897.00) 20200 STATE INCOME TAXES (0.000,00) 30010 COMMON STOCK (1,000.00) 30020 ADDTL PAID IN CAPITAL (320,400.00) 30100 ACCUMULATED OTHER COMPREHENSIVE INCOME 190,000.00) 30200 DISTRIBUTIONS SHAREHOLDERS 750,000.00 33110 RETAINED EARNINGS (14,795,441.00) 40110 SALES (27,560,510.00) 40130 OTHER OPERATING REVENUE (195,863.00) 0010 LALOR INCOME (8,598.00 40520 FREIGHT INCOME (178,814.00) 40050 LANVIN INCOME (51,865,00) 40900 SALES DISCOUNTS 35,875.00 50110 COST OF SALES 22,485, 174.00 GOOOD SALARIES & WAGES-SALARY 567,290.00 60010 SALARIES & WASES-HOURLY 2R5, 167.00 67100 PAYROLL TAXES 121,000.00 60200 EMPLOYEE BENEFITS 249,027.00 01350 ADVERTISING 57.005.00 62200 DEPRECIATION EXPENSE 594, 152.00 G2210 AMORTIZATION EXPENSE 62920 TRUCK EXPENSES/REPAIRS 64,568.00 f12350 INSURANCE 95, 106.00 6200 BUILDING RENT 210,000.00 62540 REPAIRS & MAINT-PARTS 12,515.00 02590 HEAL ESTATE TAX 29,301.00 62000 SHOP/WAREHOUSE LABOR 210,741.00 G2620 UNIFORMS 4,650.00 G2GGO UTILITIES 90,816.00 64650 DUES/SUBSCAPTN/SEMINARS 1,745.00 41,M12.00 65160 ENTERTAINMENT 4,029,00 6/590 CELLULAR PHONES/PAGING 883.00 09250 COMMISSION EXP. 85,79.00 69730 OTHER OPERATING EXP. 10,347.00 70500 WORKERS COMPENSATION 10,107.00 71400 PROMOTION 192,926.00 SUAR ALAPU Assels Liabilities Inc Sunl Stmls OCI Stml of Equily Cash Flows F 1281,000.00) 124,812.00) 115,000.00 120,000.00 19,897.00) (30,000.00) 11,000.00 (320,400.00 190,000.00) 750,000.00 (14,795,441.00 (27,560,510.00) (195,863.00) 18,595.00 (170,14.00 101.805.00) 35,875.00 22,485,174.00 567,290.00 PAS, 367.00 121,028.00 249,027.00 37,005.00 594. 152.00 H (194,000.00) 27,410.00) (15,000.00) (20,000.00) (11,250.00) (32,000.00) (1,000.00 (320,400.00) (30,000.00) G50,000.00 114,157,456.00) 125,961,652.00) (1M1,258.00) 19,254.00) (150,359.00) (70,255.00) 40,800.00 21,530, 131.00 474,921.00 2R5,486.00 135, 149.00 250,258.00 52,486.00 436,705.00 65450 WEATS 64,568.00 55,584.00 95,205.00 91,250.00 210,000.00 210,000.00 12,515.00 19,500.00 29,501.00 28,000.00 210,741.00 257,371.00 4,630.00 4,700.00 90,816.00 90,135.00 1,745.00 1,800.00 41,842.00 20 32,421.00 4,022.00 5,000.00 083.00 950.00 85,799.00 145, 825.00 10,347.00 12,384.00 10,107.00 10,800.00 192,925.00 195,582.00 Fixed Assel Rollforward Ready Type here to search x! w3 P 3:04 PM 7/28/2020 Financial Statements - Exercise Summer 2020 [Protected View] - Excel (Product Activation Failed File Home Insert Page Layout Formulas Data Review View Tell me what you want to do.. 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Enable Editing X C13 INVESTMENTS VANGUARD A D E G 1 K M N O P 83 Operating Expenses 84 Operating Expenses 85 Operating Expenses 36 Cperating Expenses 87 Interest Expense Other Income 59 Gsin on sale of Assets 90 Operating Expenses 91 Operating Expenses 92 Operating Expenses 93 94 25 71700 COMMISSION EXP 78500 AUTO REPAIRS & EXPENSES 74100 POSTAGE & OVERNIGHT MAIL 74650 DUES/SUBSCRPTN/SEMINARS 90000 INTEREST FXP 90250 CHANGE IN CASH SURRENDER VALUE OF ULCINS 9000 (GAIN LOSS ON SALE OF ASSES 92300 BONUS PROVISION-MGMT. 92310 BONUS PROVISION - EXEC. 97150 STATE & LOCAL INC TAX 120,258.00 G2,075.00 367.00 101,721.00 26,9-40.00 (100,000.00 (4,507.00) 345,000.00 281,000.00 24,875.00 F 120,355.00 62,073.00 367.00 101,721.00 26,900.00 (100,000.00 H 125,487.00 62,584.00 350.00 37,745.00 31,841.00 (20,000.00) (140,297.00) 374,000.00 184,000.00 2.485.00 345,000.00 281,000.00 24,875.00 98 99 100 101 102 103 104 103 100 107 108 109 110 111 112 113 114 TIS 116 117 118 119 120 121 122 123 Trial Balance AJES PAJES Assels Liabilities Inc Summit Stmls OCI Srl of Equily Cash Flows SCFP Fixed Assel Rollforward Ready Type here to search EP w3 PL 3:04 PM 7/28/2020 Dumbledore Manufacturing Inc. Balance Sheets December 31, 2019 and 2018 Assets 2019 2018 $ Current assets: Cash Investments available-for-sale (amortized cost of $3,975,410 and $3,100,000, respectively Accounts receivable, net of allowances of $80,000 and $80,000, respectively Inventory Prepaid expenses Total current assets - Property and equipment - at cost: Land Buildings and improvements Autos and trucks Office equipment Machinery and equipment - Less accumulated depreciation Property and equipment, net Cash surrender value of life insurance Goodwill, net of accumulated amortization of $XXXX and $0, respectively $ Financial Statements - Exercise Summer 2020 [Protected View] - Excel (Product Activation Failed File Home Insert Page Layout Formulas Data Review View Tell me what you want to do.. Sign in & Share O PROTECTED VIEW Be canctul files from the Internet can contain viruses. Unless you need to edit it's safer to stay in Protected Vicw. Enable Editing X C13 X INVESTMENTS VANGUARD A c. E G 1 K M N O P AJE FINAL 12/31/2013 251,740.00 3,500.00 100.00 618,507.00 (50,000.00) 9,330,632.00 395,833.00 1 2 Grouping 3 Cash 4 Cash 5 Cash 6 Mounts receivable / Acounts receivable 8 Inventory 9 Inventory 10 Prepaid expenses 11 Prepaid expenses 12 Prepaid expenses 13 Investments 14 Investments 13 Land 16 Office ceuipment 17 Buildings and improvements 18 Autos and trucks 19 Machinery and equipment 20 Office equipment 21 Office Guipment 22 Office equipment 23 Accumulated depreciation 24 Accumulated depreciation 25 Accumulated depreciation 26 Accumulated depreciation 27 Acumulated depreciation 28 Maulated depreciation 29 Cash surrender value of life insur 30 Goodwill 31 Goodwill 32 Accounts payable 33 Une of credit 34 Current portion of nato payable 35 Notes payable 36 Current portion of long-term deat 3/ Long-term debt 38 Accrued expenses 29 Accrued expenses 40 Accrued wagas 41 Accrued wages Trial Balance AJES Acct Acct Description 10060 Cash - Operating Chase 1GB4 10070 Cash in Bank PNC 1000 Petty CM 11100 A/R - TRADE 11150 ALLOW DOUBTFUL ACCOUNTS 12010 INVENTORY 12300 W.I.P. PARTS & LALOR 13120 PPD. LIABILITY INSURANCE 13160 PPD. WORKERS COMP. 13150 PPD. OTHER 14500 INVESTMENTS - VANGUARD 14600 INVESTMENTS-VALUATION ACCOUNT 15100 LAND 15170 COMPUTER/CATALOG EQUIPMENT 15180 Buildings & Improvements 15190 Autos & Trucks 15200 Machinery & Equipment 1.5350 Office Equipment 15100 Phone System 15930 Computerwstem 16190 A/D - Buildings & Improvements 16190 A/D Autos & Trucks 16200 A/D Machinery & Equipment 15350 A/D Office Equipment 16300 A/D.Phone System 16130 D-Computer System 17150 CASH SURRENDER VALUE-LF 1/000 GOODWILL 17050 ACCUM W/DOWN-GOODWILL 20380 Accounts Payable 21110 Une of Credit Chase 21250 N/P-INSURANCE/AUTO LOANS - CURRENT 21250 N/P-INSURANCE AUTO LOANS 21290 LONG-TERM DCOT - HUNTINGTON - CURRENT 21300 LONG-TERM DEVI - HUNTINGTON 24150 SALES TAX-OHIO 27400 ACCRUED INTEREST EXP 27550 ACCRUED SALARIES 27560 ACCRUED BONUS - MGMT PAJES Assels Liabilities Inc Sim Sims OCI D UNADU 12/01/2019 947,251.00 2,000.00 100.00 78,185.00 (90,000.00) 7,532,433.00 664,950.00 99.000.00 7,500.00 41,600.00 3,975,410.00 90,000.00 100,000.00 42.710.00 1,385,000.00 G51,458.00 3,2R5, 460.00 TRASO.00 35,854.00 204, 75.00 (054,000.00) (370,646.00) 12,323,294.00) (100,962.00) (25,911.00) (143,002.00) 2,500,588.00 100,000.00 F FINAL 12/21/2019 947,251.00 2,000.00 4000 102.00 783,185.00 [80,000.00) 7,523,432.00 664,950.00 s0.000.00 7,500.00 41,600.00 3.975, 110.00 50,000.00 100,000.00 42,710.00 1.385,000.00 GS1,458.00 3,785,460.00 75L 35,851.00 204,785.00 (094,000.00 1370,646.00 (2.323,294.00) (100,962.00) 135,911.00 (143,002.001 2.500,585.00 100,000.00 18.690.00 31,800.00 3,100,000.00 80,000.00 100,000.00 30,150.00 1,350,000.00 835,602.00 3.684.105.00 7R.ASO. 35,854.00 145,050.00 (536,400.00) (503,152.00 (2.818,238.00) 174,951.00) (23, 114.00) (123.926.00) 2,400,505.00 100,000.00 (214,940.00) (843.621.00) (17.500.00) (172,281.00) (150,000.00 (524,000.00) 18.239.00) (12.375.00) 1214,940.00) (435,505.00 (348,621.00 (1.125,475.00 (17,500.00) . (15,000.00) (172,216.00 (129,706.20) (150,000.00) (100,000.00) (524,000.00 (639,000.00) 18,339.00) 17,895.00) (12.57.00) (14,385.00 (247,759.00) (345,000.00 (374,000.00) SCFP Fixed Assel Rollforward Simo (345,000.00 Simtul Equity Cash Flows Ready Type here to search x! w3 P 3:03 PM 7/28/2020 Financial Statements - Exercise Summer 2020 [Protected View] - Excel (Product Activation Failed File Home Insert Page Layout Formulas Data Review View Tell me what you want to do.. Sign in & Share PROTECTED VIEW Be canctul files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing X C13 X f INVESTMENTS VANGUARD G K M N O P A 42 Accrued wares 43 Accrued wages 14 Accrued expenses 45 Accrued expenses 46 Anrued expenses 47 Muud expenses 48 Common stock 49 Additional puid-in capital 50 Accumulated other comprehensive (Income) les 51 Retained earnings 52 Retained earnings 53 Sales 54 Sales 55 Sales 30 Sales 57 Sales 58 Sales 59 Cost of Goods Sold 50 Operating Expenses 61 Operating Expenses 62 Operating Expenses 03 Operating expenses 04 Operating Expenses 06 Operating Expenses 06 Operating Expenses 67 Operating Expenses GACperating Expenses 69 Operating Expenses 70 Operating expenses 71 Operating Expenses T2 Operating Expenses 73 Operating Expenses 74 Operating Expenses 75 Operating Expenses 76 Cperating Expenses 77 Operating Expenses 0 Operating expenses 79 Operating Expenses 80 Operating Expenses 31 Operating Expenses 82 Operating Expenses Trial Balance AJES PAJES D E 27380 ACCRUED BONUS - EXEC (281,000.00 27000 ACCRUED COMMISSIONS (34,812.00) 27610 ACCRUED LEGAL FEES (15,000.00) 27620 ACCRUED CPA FEES (20,000.00) 27950 MOCRUFD OTHER - AMEX OC 19,897.00) 20200 STATE INCOME TAXES (0.000,00) 30010 COMMON STOCK (1,000.00) 30020 ADDTL PAID IN CAPITAL (320,400.00) 30100 ACCUMULATED OTHER COMPREHENSIVE INCOME 190,000.00) 30200 DISTRIBUTIONS SHAREHOLDERS 750,000.00 33110 RETAINED EARNINGS (14,795,441.00) 40110 SALES (27,560,510.00) 40130 OTHER OPERATING REVENUE (195,863.00) 0010 LALOR INCOME (8,598.00 40520 FREIGHT INCOME (178,814.00) 40050 LANVIN INCOME (51,865,00) 40900 SALES DISCOUNTS 35,875.00 50110 COST OF SALES 22,485, 174.00 GOOOD SALARIES & WAGES-SALARY 567,290.00 60010 SALARIES & WASES-HOURLY 2R5, 167.00 67100 PAYROLL TAXES 121,000.00 60200 EMPLOYEE BENEFITS 249,027.00 01350 ADVERTISING 57.005.00 62200 DEPRECIATION EXPENSE 594, 152.00 G2210 AMORTIZATION EXPENSE 62920 TRUCK EXPENSES/REPAIRS 64,568.00 f12350 INSURANCE 95, 106.00 6200 BUILDING RENT 210,000.00 62540 REPAIRS & MAINT-PARTS 12,515.00 02590 HEAL ESTATE TAX 29,301.00 62000 SHOP/WAREHOUSE LABOR 210,741.00 G2620 UNIFORMS 4,650.00 G2GGO UTILITIES 90,816.00 64650 DUES/SUBSCAPTN/SEMINARS 1,745.00 41,M12.00 65160 ENTERTAINMENT 4,029,00 6/590 CELLULAR PHONES/PAGING 883.00 09250 COMMISSION EXP. 85,79.00 69730 OTHER OPERATING EXP. 10,347.00 70500 WORKERS COMPENSATION 10,107.00 71400 PROMOTION 192,926.00 SUAR ALAPU Assels Liabilities Inc Sunl Stmls OCI Stml of Equily Cash Flows F 1281,000.00) 124,812.00) 115,000.00 120,000.00 19,897.00) (30,000.00) 11,000.00 (320,400.00 190,000.00) 750,000.00 (14,795,441.00 (27,560,510.00) (195,863.00) 18,595.00 (170,14.00 101.805.00) 35,875.00 22,485,174.00 567,290.00 PAS, 367.00 121,028.00 249,027.00 37,005.00 594. 152.00 H (194,000.00) 27,410.00) (15,000.00) (20,000.00) (11,250.00) (32,000.00) (1,000.00 (320,400.00) (30,000.00) G50,000.00 114,157,456.00) 125,961,652.00) (1M1,258.00) 19,254.00) (150,359.00) (70,255.00) 40,800.00 21,530, 131.00 474,921.00 2R5,486.00 135, 149.00 250,258.00 52,486.00 436,705.00 65450 WEATS 64,568.00 55,584.00 95,205.00 91,250.00 210,000.00 210,000.00 12,515.00 19,500.00 29,501.00 28,000.00 210,741.00 257,371.00 4,630.00 4,700.00 90,816.00 90,135.00 1,745.00 1,800.00 41,842.00 20 32,421.00 4,022.00 5,000.00 083.00 950.00 85,799.00 145, 825.00 10,347.00 12,384.00 10,107.00 10,800.00 192,925.00 195,582.00 Fixed Assel Rollforward Ready Type here to search x! w3 P 3:04 PM 7/28/2020 Financial Statements - Exercise Summer 2020 [Protected View] - Excel (Product Activation Failed File Home Insert Page Layout Formulas Data Review View Tell me what you want to do.. 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Enable Editing X C13 INVESTMENTS VANGUARD A D E G 1 K M N O P 83 Operating Expenses 84 Operating Expenses 85 Operating Expenses 36 Cperating Expenses 87 Interest Expense Other Income 59 Gsin on sale of Assets 90 Operating Expenses 91 Operating Expenses 92 Operating Expenses 93 94 25 71700 COMMISSION EXP 78500 AUTO REPAIRS & EXPENSES 74100 POSTAGE & OVERNIGHT MAIL 74650 DUES/SUBSCRPTN/SEMINARS 90000 INTEREST FXP 90250 CHANGE IN CASH SURRENDER VALUE OF ULCINS 9000 (GAIN LOSS ON SALE OF ASSES 92300 BONUS PROVISION-MGMT. 92310 BONUS PROVISION - EXEC. 97150 STATE & LOCAL INC TAX 120,258.00 G2,075.00 367.00 101,721.00 26,9-40.00 (100,000.00 (4,507.00) 345,000.00 281,000.00 24,875.00 F 120,355.00 62,073.00 367.00 101,721.00 26,900.00 (100,000.00 H 125,487.00 62,584.00 350.00 37,745.00 31,841.00 (20,000.00) (140,297.00) 374,000.00 184,000.00 2.485.00 345,000.00 281,000.00 24,875.00 98 99 100 101 102 103 104 103 100 107 108 109 110 111 112 113 114 TIS 116 117 118 119 120 121 122 123 Trial Balance AJES PAJES Assels Liabilities Inc Summit Stmls OCI Srl of Equily Cash Flows SCFP Fixed Assel Rollforward Ready Type here to search EP w3 PL 3:04 PM 7/28/2020 Dumbledore Manufacturing Inc. Balance Sheets December 31, 2019 and 2018 Assets 2019 2018 $ Current assets: Cash Investments available-for-sale (amortized cost of $3,975,410 and $3,100,000, respectively Accounts receivable, net of allowances of $80,000 and $80,000, respectively Inventory Prepaid expenses Total current assets - Property and equipment - at cost: Land Buildings and improvements Autos and trucks Office equipment Machinery and equipment - Less accumulated depreciation Property and equipment, net Cash surrender value of life insurance Goodwill, net of accumulated amortization of $XXXX and $0, respectively $