Having a hard time with the Post Closing Trial Balance which ones are and how would I place them inside my general ledger
| Rocky Ram, Inc. |
| Post Closing Trial Balance |
| December 31, 2020 |
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YOLE Formu Review Help Arial Copy ormat Painter BIU 10 AA 2 Wrap Text -A-EEEE Merge & Center bard EN Font Alignment D E F Rocky Ram, Inc. Income Statement For the Year Ended 12/31/20 Sales Revenue Sales Returns & Allowances Sales Discounts 2,319,758 (21,200) (17 273) 281,285 1.240 267 1,041,018 Sales Revenue, Net Cost of Goods Sold Gross Profit Operating Expenses Wages and Salary Expense Insurance Expense Utility Expense Supplies Expense Depreciation Expense - Building Depreciation Expense - Equipment Bad Debt Expense Total Operating expenses Operating Income Non-Operating expense(income) Interest expense Interest Revenue Rent Revenue 747,500 3.600 76,220 43.700 6.000 12.000 11.500 to 900.520 140,498 6,500 (1.742) (2.000) Net Income before income taxes Income Tax expense 2.758 137,740 15.000 Net Income: 122,740 Rocky Ram, Inc. Retained Farninas Statement G2 GL worksheet AJE Nov.TB GJ1 Financials CIE PostTB Ratios Retained Earnings Statement For the Year Ended 12/31/20 Beg. Retained Earnings Nov 31. Add: Net Income: 480,000 122,740 Less: Dividends 602.740 (6,000) End Retained Earnings Dec 31 596,740 Rocky Ram, Inc. Balance Sheet 12/31/20 91,540 61.742 104.000 (13.000) ASSETS Current Assets: Cash Cash in Savings Account Accounts Receivable Allowance for doubtful accounts Accounts Receivable, Net Merchandise Inventory Prepaid Insurance Supplies Total current Assets: Fixed Assets Land building Accum. Depr - building Building, Net 91.000 165.000 1.200 3.300 413,782 380,000 180,000 ( 12 000 168.000 100 NA TO 380,000 180,000 (12.000) 168,000 190,000 (48,000) 142.000 690,000 1,103,782 64 Land 65 building 66 Accum. Depr - building 67 Building, Net 68 Office Equip 69 Accum Depr. - Office Equipment 70 Office Equip, Net 71 Total Fixed assets 72 Total Assets 73 74 LIABILITIES 75 Current Liabilities 76 Accounts Payable 77 Wages & Salaries Payable 78 Unearned Rent Revenue 79 Interest Payable 80 Income Taxes Payable 81 Dividends Payable 82 Total Current Liabilities 83 84 Non-Current Liabilities 85 Notes Payable 86 Mortgage Notes Payable 87 Total Non-Current Liabilities 88 89 Total Liabilities 90 91 Stockholder's Equity 92 Common Stock 93 Retained Earnings 94 Total Stockholder's Equity 95 Total Liabilities & Stockholder's Equity 196 97 21,000 31,500 4.000 541 15.000 8.200 80.242 45,000 200.000 245.000 325,242 190.000 596 740 786.740 1,111,982 YOLE Formu Review Help Arial Copy ormat Painter BIU 10 AA 2 Wrap Text -A-EEEE Merge & Center bard EN Font Alignment D E F Rocky Ram, Inc. Income Statement For the Year Ended 12/31/20 Sales Revenue Sales Returns & Allowances Sales Discounts 2,319,758 (21,200) (17 273) 281,285 1.240 267 1,041,018 Sales Revenue, Net Cost of Goods Sold Gross Profit Operating Expenses Wages and Salary Expense Insurance Expense Utility Expense Supplies Expense Depreciation Expense - Building Depreciation Expense - Equipment Bad Debt Expense Total Operating expenses Operating Income Non-Operating expense(income) Interest expense Interest Revenue Rent Revenue 747,500 3.600 76,220 43.700 6.000 12.000 11.500 to 900.520 140,498 6,500 (1.742) (2.000) Net Income before income taxes Income Tax expense 2.758 137,740 15.000 Net Income: 122,740 Rocky Ram, Inc. Retained Farninas Statement G2 GL worksheet AJE Nov.TB GJ1 Financials CIE PostTB Ratios Retained Earnings Statement For the Year Ended 12/31/20 Beg. Retained Earnings Nov 31. Add: Net Income: 480,000 122,740 Less: Dividends 602.740 (6,000) End Retained Earnings Dec 31 596,740 Rocky Ram, Inc. Balance Sheet 12/31/20 91,540 61.742 104.000 (13.000) ASSETS Current Assets: Cash Cash in Savings Account Accounts Receivable Allowance for doubtful accounts Accounts Receivable, Net Merchandise Inventory Prepaid Insurance Supplies Total current Assets: Fixed Assets Land building Accum. Depr - building Building, Net 91.000 165.000 1.200 3.300 413,782 380,000 180,000 ( 12 000 168.000 100 NA TO 380,000 180,000 (12.000) 168,000 190,000 (48,000) 142.000 690,000 1,103,782 64 Land 65 building 66 Accum. Depr - building 67 Building, Net 68 Office Equip 69 Accum Depr. - Office Equipment 70 Office Equip, Net 71 Total Fixed assets 72 Total Assets 73 74 LIABILITIES 75 Current Liabilities 76 Accounts Payable 77 Wages & Salaries Payable 78 Unearned Rent Revenue 79 Interest Payable 80 Income Taxes Payable 81 Dividends Payable 82 Total Current Liabilities 83 84 Non-Current Liabilities 85 Notes Payable 86 Mortgage Notes Payable 87 Total Non-Current Liabilities 88 89 Total Liabilities 90 91 Stockholder's Equity 92 Common Stock 93 Retained Earnings 94 Total Stockholder's Equity 95 Total Liabilities & Stockholder's Equity 196 97 21,000 31,500 4.000 541 15.000 8.200 80.242 45,000 200.000 245.000 325,242 190.000 596 740 786.740 1,111,982
