I can't figure out why on the ,Trial balance TAB, balance sheet and income statement don't equal. Also why on the "balance sheet TAB" it also doesn't equal. Could you also do the Income statement TAB & Cash flows TAB

Account No. G/L Acct Long Text Beginning Balance Debit Credit 100000 Bank Account 252,518 110100 Accounts Receivable (Direct Posting Account) 108,420 110150 Allowance for Bad Debt 200600 Inventory-Operating Supplies 200900 Inventory-Raw Materials (Direct Post) 0 750 32,000 200910 Inventory-Finished Goods (Direct Post) 281,298 200920 Inventory-Trading Goods (Direct Post) 66,474 210000 Prepaid Insurance 5,000 212000 Prepaid Advertising 1,000 215000 Prepaid Rent 216000 Deposits on Purchase 0 220110 Land 0 425,000 220210 Production Machinery, Equipment and Fixtures 915,000 220310 Accumulated Depreciation -Production mach, Equip. 300200 Accounts Payable (Direct Posting Account) 300700 Payables-Salaries and Wages 300800 Accrued Expense 320000 Accrued Tax - Output 329000 Common Stock 330010 Retained Earnings (Direct Post) 600000 Sales Revenue 610000 Sales Discount 700000 Labor 740000 Supplies Expense 740300 Rent Expense 740400 Insurance Expense 741200 Bad Debt Expense 741500 Utilities (electricity & phone) 741800 Depreciation Expense 741900 Advertising Expense 780000 Cost of Goods Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2,087,460 0 0 2,500 0 0 0 0 0 0 0 0 0 0 305,000 47,900 110,000 988 3,063 1,000,000 618,009 0 0 0 0 0 0 0 0 0 0 0 2,087,460 Global Bike, Inc General Journal Date Acct No D/C 3-Jan 300700 D 100000 C Acct Title Payables-Salaries and Wages Bank Account To record salaries expense due 3-Jan 200920 D 200900 D 100000 C 300200 C 3-Jan 110100 D 780000 D 600000 C 200920 C 7-Jan 100000 D 110100 C Bank Account Accounts Receivable (Direct Posting Account) To record amount received from Northwest Bikes 10-Jan 300800 D 100000 C Accrued Expense Bank Account To record cash paid for December utility bill 10-Jan 741900 D 212000 C Advertising Expense Prepaid Advertising To record publication of advertisment in Italian cycle journal 11-Jan 200600 D 300200 C Inventory-Operating Supplies Accounts Payable (Direct Posting Account) To record operating supplies purchases to Staples 11-Jan 11-Jan Inventory-Trading Goods (Direct Post) Inventory-Raw Materials (Direct Post) Bank Account Accounts Payable (Direct Posting Account) To record receipt of merchandise Cost of Goods Sold Accounts Receivable (Direct Posting Account) Cost of Goods Sold Sales Revenue Inventory-Trading Goods (Direct Post) Goods ordered by Windy City Bikes No entry needed 100000 D 610000 D 110100 C Bank Account Sales Discount Accounts Receivable (Direct Posting Account) To record amount received from Windy City Bikes 12-Jan 300200 D 100000 C Accounts Payable (Direct Posting Account) Bank Account To record amount paid to accounts payable 13-Jan 216000 D 100000 C Deposits on Purchase Bank Account To record the acquisiton of an inventory tracking system 17-Jan 300200 D 100000 C Accounts Payable (Direct Posting Account) Bank Account To record amount paid to accounts payable 17-Jan 110100 D 780000 D 600000 C 200910 C Accounts Receivable (Direct Posting Account) Cost of Goods Sold Sales Revenue Inventory-Finished Goods (Direct Post) To record sales to Rocky Mountain Bikes on credit terms 17-Jan 200900 D 300200 C Inventory-Raw Materials (Direct Post) Accounts Payable (Direct Posting Account) To record raw materials purchased on credit and shipping due 17-Jan 110150 D 110100 C Allowance for Bad Debt Accounts Receivable (Direct Posting Account) To record uncollectable amount on Bunky's Bucycle Emporium 18-Jan 100000 D 110100 C Bank Account Accounts Receivable (Direct Posting Account) To record amounts recived from Silicon Vally Bikes 19-Jan 300200 D 100000 C Accounts Payable (Direct Posting Account) Bank Account To record amount paid and due to Staples on Jan 11 19-Jan 110100 D 780000 D 600000 C 320000 C 200920 C Accounts Receivable (Direct Posting Account) Cost of Goods Sold Sales Revenue Accrued Tax - Output Inventory-Trading Goods (Direct Post) To record sales to SoCal Bikes on credit tems 24-Jan No entry needed 25-Jan 212000 D 100000 C Prepaid Advertising Bank Account To record amount paid in advance for advertisement 26-Jan 100000 D Bank Account 780000 600000 200910 D C C Cost of Goods Sold Sales Revenue Inventory-Finished Goods (Direct Post) To record sales to Beantown Bikes 27-Jan No entry needed 27-Jan 300200 D 100000 C Accounts Payable (Direct Posting Account) Bank Account To record amount paid & due to Night Rider Aluminum Products 31-Jan 320000 D 100000 C Accrued Tax - Output Bank Account To record payment on slaes taxes on last quarter 31-Jan 215000 D 100000 C Prepaid Rent Bank Account To record the amount paid on office rent 31-Jan 220210 D 100000 C 216000 C Production Machinery, Equipment and Fixtures Bank Account Deposits on Purchase To record the amount paid & due to CSI for the tracking system 31-Jan 110100 D 780000 D 600000 C 200910 C 200920 C Accounts Receivable (Direct Posting Account) Cost of Goods Sold Sales Revenue Inventory-Finished Goods (Direct Post) Accounts Receivable (Direct Posting Account) To record delivery of order to Big Apple 31-Jan 741200 D 110150 C Adjustments Bad Debt Expense Allowance for Bad Debt to accrue for bad debt expense ($543,436 X 1/2%) 31-Jan 780000 D 200920 C Cost of Goods Sold Inventory-Trading Goods (Direct Post) to record inventory discrepancy ($40,812 - 40,710) 31-Jan 740000 D 200600 C Supplies Expense Inventory-Operating Supplies to record office supply expense ($1100 - $620) 31-Jan 741800 D 220310 C Depreciation Expense Accumulated Depreciation -Production mach, Equip. to record depreciation expense ($915,000/(15*12)) 31-Jan 741500 D 300800 C Utilities (electricity & phone) Accrued Expense to record utility expense 31-Jan 740400 D 210000 C Insurance Expense Prepaid Insurance to record insurance expense (15,000/6) 31-Jan 700000 D 300700 C Labor Payables-Salaries and Wages to accrue wages expense 31-Jan 740300 D 215000 C Rent Expense Prepaid Rent to accrue rent expense , Inc urnal Debit $110,000 Journal Transac Ent No tion No 1 $110,000 1 Credit $55,992 $37,378 $92,820 $550 2 2 2 2 $22,000 $15,180 3 3 3 3 $16,850 4 4 $988 5 5 $1,000 6 6 $350 7 7 $22,000 $15,180 $16,850 $988 $1,000 $350 8 $21,560 $440 $22,000 9 9 9 Post $92,820 $92,820 10 10 $3,000 11 11 $17,010 12 12 $128,130 $79,441 13 13 13 13 $100,220 14 14 $1,610 15 15 $89,960 16 16 $350 17 17 $2,300 $201 $1,380 18 18 18 18 18 $3,000 $17,010 $128,130 $79,441 $100,220 $1,610 $89,960 $350 $2,501 $1,380 19 $15,000 $15,000 $27,450 20 20 21 $17,092 21 21 21 $27,450 $17,092 22 $30,890 $30,890 23 23 $3,063 25 25 $4,500 26 26 $3,063 $4,500 $7,195 27 27 $4,195 $3,000 $340,805 $234,680 28 28 28 28 28 $340,805 $169,586 $65,094 $1,478,835 $1,478,835 $2,717 $2,717 AE1 AE1 $102 AE2 AE2 $480 AE3 AE3 $5,083 AE4 AE4 $102 $480 $5,083 $1,046 $1,046 AE5 AE5 $2,500 AE6 AE6 $110,000 AE7 AE7 $4,500 AE8 AE8 $2,500 $110,000 $4,500 1000000 Bank Account date explanation 1-Jan Beginning Balance 3-Jan To record salaries expense due but not paid 3-Jan to record reeipt of merchandise 7-Jan To record amount received from Northwest Bikes 10-Jan To record cash paid for December utility bill 11-Jan To record amount received from Windy City Bikes 12-Jan To record amount paid to accounts payable 13-Jan To record the acquisiton of an inventory tracking system 17-Jan To record amount paid to accounts payable 18-Jan To record amounts recived from Silicon Vally Bikes 19-Jan To record amount paid and due to Staples on Jan 11 25-Jan To record amount paid in advance for advertisement 26-Jan To record sales to Beantown Bikes 27-Jan To record amount paid & due to Night Rider Aluminum Products 31-Jan To record payment on slaes taxes on last quarter 31-Jan To record the amount paid on office rent 31-Jan To record the amount paid & due to CSI for the tracking system 110100 Accounts Receivable (Direct Posting Account) date explanation 1-Jan Beginning Balance 3-Jan Goods ordered by Windy City Bikes 7-Jan To record amount received from Northwest Bikes 11-Jan To record amount received from Windy City Bikes 17-Jan To record sales to Rocky Mountain Bikes on credit terms 17-Jan To record uncollectable amount on Bunky's Bucycle Emporium 18-Jan To record amounts recived from Silicon Vally Bikes 19-Jan To record sales to SoCal Bikes on credit tems 27-Jan To record sales to Big Apple Bikes on credit terms 110150 date 1-Jan Beginning Balance 17-Jan Bad debts debit $252,518 credit $110,000 $92,820 $16,850 $988 $21,560 $92,820 $3,000 $17,010 $89,960 $350 $15,000 $27,450 $30,890 $3,063 $4,500 $4,195 $408,338 $374,636 debit $108,420 $22,000 credit $16,850 $22,000 $128,130 $1,610 $89,960 $2,501 $340,805 $601,856 $130,420 debit credit $2,500 $1,610 Allowance for bad debts explanation $1,610 200600 Inventory-Operating Supplies date explanation 1-Jan Beginning Balance 11-Jan Purchased on account 200900 Inventory- Raw material date explanation 1-Jan Beginning Balance 3-Jan Goods ordered by Windy City Bikes 17-Jan Purchased debit credit $750 $350 debit $32,000 $37,378 $100,220 credit $137,598 200910 Inventory- Finished Goods date explanation 1-Jan Beginning Balance 17-Jan Goods ordered by Windy City Bikes 26-Jan To record sales to Beantown Bikes 31-Jan debit $281,298 credit $79,441 $17,092 $169,586 $266,119 200920 Inventory- Trading Goods date explanation 1-Jan Beginning Balance 3-Jan To record receipt of merchandise 3-Jan Goods ordered by Windy City Bikes 19-Jan To record sales to SoCal Bikes on credit tems 31-Jan Sold on account debit $66,474 $55,992 credit $15,180 $1,380 $65,094 $55,992 $81,654 210000 Prepaid Insurance date 1-Jan Beginning Balance explanation debit $5,000 credit $5,000 212000 Prepaid advertsing date explanation 1-Jan Beginning Balance 10-Jan To record publication of advertisment in Italian cycle journal 25-Jan To record amount paid in advance for advertisement debit credit $0 $1,000 $15,000 $15,000 215000 Prepaid rent date 1-Jan Beginning Balance 31-Jan Paid rent in advance explanation debit $1,000 credit $0 $4,500 $4,500 216000 Deposists on Purchase date explanation 13-Jan To record the acquistion of an inventory tracking system 31-Jan To record the amount paid & due to CSI for the tracking system debit $0 $3,000 $3,000 $3,000 220110 Land date 1-Jan Beginning Balance explanation credit debit $450,000 $3,000 credit 220210 Production machinery, equipment and fixture date explanation 1-Jan Beginning Balance 13-Jan To record instalation of the barcode system debit $915,000 $7,195 credit $7,195 220310 Accumulated Depriciation date explanation 1-Jan Beginning Balance debit credit $305,000 300200 Accounts Payable date explanantion 1-Jan Beginning balance 3-Jan Received Inventory from Dallas Bikes Basics 11-Jan To record operating supplies purchases to Staples 12-Jan To record amount paid to acccounts payable 17-Jan To record amount paid to acccounts payable 17-Jan To record raw materials purchased on credit 19-Jan To record amount paid & due to Staples 27-Jan To record amount paid & due to Night Rider debit $92,820 17,010 $100,220 350 30,890 $141,070 300700 Payables-Salaries and Wages date explanantion 1-Jan Beginning balance 3-Jan To recrd salries expense due credit 47,900 $550 $350 debit 101,120 credit 110,000 110,000 110,000 300800 Accrued Expenses date explanantion 1-Jan Beginning balance 3-Jan To recrd salries expense due debit credit 988 988 988 320000 Accrued Tax - output date explanation 1-Jan Beginning balance 19-Jan To record sales to SocAl Bikes on credit terms 31-Jan To record payment on sales taxes in last quarter 0 debit 3,063 0 credit 3,063 $201 329000 Common Stock date 1-Jan Beginning balance explanation debit credit 1,000,000 330010 Retained Earnings date 1-Jan Beginning balance explanation debit credit 618,009 debit credit 600000 Sales Revenue date explanation 1-Jan Beginning balance 3-Jan Goods ordered by Windy City Bikes 17-Jan To record sales to Rocky Mountain Bikes on credit 19-Jan To record sales to SoCal Bikes on credit 26-Jan To record sales to Beantown Bikes 31-Jan To record delivery of order to Big Apple 0 $22,000 128,130 2,300 27,450 340,805 520,685 610000 Sales Discount date explanation 1-Jan Beginning balance 11-Jan To record amount received from Windy City Bikes 700000 Labor date 1-Jan Beginning balance 740000 Supplies Expense explanation debit credit 0 440 debit credit 0 date 1-Jan Beginning balance explanation debit credit 0 740300 Rent Expense date 1-Jan Beginning balance explanation 740000 Insurance Expense date 1-Jan Beginning balance explanation 741200 Bad Debt Expense date 1-Jan Beginning balance explanation debit credit 0 debit credit 0 debit credit 0 741500 Utilities (electricity & phone) date explanation 1-Jan Beginning balance debit 741800 Depriciation Expense date explanation 1-Jan Beginning balance debit credit 0 credit 0 741900 Advertising Expense date explanation 1-Jan Beginning balance 10-Jan To record puubliction of advertisement Italian journal 780000 Cost of Goods Sold date explanation 1-Jan Beginning balance 3-Jan Goods ordered by Windy City Bikes 17-Jan To record sales to Rocky Mountain Bikes on credit 19-Jan To record sales to SoCal Bikes on credit 26-Jan To record sales to Beantown Bikes 31-Jan To record delivery of order to Big Apple debit credit 0 1,000 debit credit 0 15,180 79,441 1,380 17,092 234,680 347,773 0 Account 100000 Bank Account 110100 Accounts Receivable (Direct Posting Account) 110150 Allowance for Bad Debt 200600 Inventory-Operating Supplies 200900 Inventory-Raw Materials (Direct Post) 200910 Inventory-Finished Goods (Direct Post) 200920 Inventory-Trading Goods (Direct Post) 210000 Prepaid Insurance 212000 Prepaid Advertising 215000 Prepaid Rent 216000 Deposits on Purchase 220110 Land 220210 Production Machinery, Equipment and Fixtures 220310 Accumulated Depreciation -Production mach, Equip. 300200 Accounts Payable (Direct Posting Account) 300700 Payables-Salaries and Wages 300800 Accrued Expense 320000 Accrued Tax - Output 329000 Common Stock 330010 Retained Earnings (Direct Post) 600000 Sales Revenue 610000 Sales Discount 700000 Labor 740000 Supplies Expense 740300 Rent Expense 740400 Insurance Expense 741200 Bad Debt Expense 741500 Utilities (electricity & phone) 741800 Depreciation Expense 741900 Advertising Expense 780000 Cost of Goods Sold $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ beg bal 252,518 $ 108,420 $ - $ 2,500 750 $ 32,000 $ 281,298 $ 66,474 $ 5,000 $ 1,000 $ ### ### 425,000 $ 915,000 $ - $ 305,000 - $ 47,900 - $ 110,000 - $ 988 - $ 3,063 - $ 1,000,000 - $ 618,009 - $ - $ ### - $ - $ - $ - $ ### - $ - $ ### $ 2,087,460 $ 2,087,460 $ transaction 155,820 374,636 493,436 $130,420 1,610 350 0 137,598 0 266,119 55,992 81,654 0 0 15,000 1,000 4,500 0 3,000 3,000 0 0 7,195 0 0 0 141,070 101,120 110,000 0 988 3,063 201 0 0 0 0 0 520,685 440 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,000 0 347,773 1,478,835 unadjusted trial balance $ 33,702 0 $ 471,436 0 $ - $ 890 $ 1,100 $ $ 169,598 $ $ 15,179 $ $ 40,812 5,000 0 $ 15,000 0 $ 4,500 0 $ 0 425,000 0 $ 922,195 0 0 $ 305,000 $ 7,950 $ 0 0 0 0 201 0 1,000,000 0 618,009 0 520,685 440 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,000 0 347,773 0 1,478,835 $ 2,452,735 $ 2,452,735 $ adjustment 2,717 480 0 0 102 2,500 0 4,500 0 5,083 0 110,000 1,046 0 110,000 480 4,500 2,500 2,717 1,046 5,083 0 0 0 0 0 0 0 102 126,428 $ 126,428 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ adjusted balance 33,702 471,436 $ 3,607 620 169,598 15,179 $ 40,710 2,500 15,000 $ - $ - $ 425,000 $ 922,195 $ - $ 310,083 - $ 7,950 $ 110,000 $ 1,046 $ 201 $ 1,000,000 $ 618,009 $ 520,685 440 $ 110,000 $ 480 $ 4,500 $ 2,500 $ 2,717 $ 1,046 $ 5,083 $ 1,000 $ 347,875 $ 2,571,581 $ Income statement $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 2,571,581 $ 440 110,000 480 4,500 2,500 2,717 1,046 5,083 1,000 347,875 $ $ $ $ $ $ $ $ $ $ 475,641 $ $ Balance sheet 33,702 471,436 $ 3,607 620 169,598 15,179 $ 40,710 2,500 15,000 $ ### $ ### $ 425,000 $ 922,195 $ - $ 310,083 - $ 7,950 $ 110,000 $ 1,046 $ 201 ### ### ### 520,685 $ 2,095,940 $ 2,050,896 45,044 $ 45,044 Global Bikes Inc. Balance Sheet January 31st 2017 ASSETS Curretns Assets: Cash and Equivalents Accounts Recievable Allowance for Bad Debt Inventory-Operating Supplies Inventory-Raw Materials (Direct Post) Inventory-Finished Goods (Direct Post) Inventory-Trading Goods (Direct Post) Prepaid Insurance Prepaid Advertising Prepaid Rent 33,702 471,436 -3,607 620 169,598 15,179 40,710 2,500 15,000 0 745,138 Total Current Assets: Land Production Machinery, Equipment and Fixtures Accumulated Depreciation -Production mach, Equip. 425,000 922,195 -310,083 Net Property Plant & Equipment 1,037,112 Total Assets: 1,782,250 Liabilities ans Shareholder's Equity Current Liabillities: Accounts Payable (Direct Posting Account) Payables-Salaries and Wages Accrued Expense Accrued Tax - Output 7,950 110,000 1,046 201 119,197 Total Current Liabilities Shareholder's Equity Common Stock Retained Earnings 1,000,000 618,009 Total Shareholder's 1,618,009 Total Liabilities & Shareholder's Equity 1,737,206 45,044 Income Statement Global Bikes Inc. For Month Ending January 31 2017 Revenue Cash Account 100000 Bank Account 110100 Accounts Receivable (Direct Posting Account) 110150 Allowance for Bad Debt 200600 Inventory-Operating Supplies 200900 Inventory-Raw Materials (Direct Post) 200910 Inventory-Finished Goods (Direct Post) 200920 Inventory-Trading Goods (Direct Post) 210000 Prepaid Insurance 212000 Prepaid Advertising Prepaid Rent 220110 Land 220210 Production Machinery, Equipment and Fixtures 220310 Accumulated Depreciation -Production mach, Equip. 300200 Accounts Payable (Direct Posting Account) 300700 Payables-Salaries and Wages 300800 Accrued Expense 320000 Accrued Tax - Output 329000 Common Stock 330010 Retained Earnings (Direct Post) 600000 Sales Revenue 610000 Sales Discount 700000 Labor 740000 Supplies Expense 740300 Rent Expense 740400 Insurance Expense 741200 Bad Debt Expense 741500 Utilities (EL 741800 Depreciation Expense 741900 Advertising Expense 780000 Cost of Goods Sold $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ beg bal 252,518 $ 108,420 $ - $ 2,500 750 $ 32,000 $ 281,298 $ 66,474 $ 5,000 $ 1,000 $ - $ 425,000 $ 915,000 $ - $ 305,000 - $ 47,900 - $ 110,000 - $ 988 - $ 3,063 - $ 1,000,000 - $ 618,009 - $ - $ - $ - $ - $ - $ - $ - $ - $ $ - $ $ 347,773 $ 300 transaction 155,820 282,366 543,436 130,420 1,610 350 237,568 266,119 55,992 81,654 unadjusted trial balance $ 125,972 $ 521,436 $ 890 $ 1,100 $ 269,568 $ 15,179 $ 40,812 adjustment adjusted balance 2,717 480 102 2,500 2,717 adjusted balance $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Eqm closing entries 3,607 480 40,914 2,500 - Income statement Balance sheet $ $ $ $ $ $ $ $ $ $ $ - cost of gooo sold 300 15,180 79,441 1,380 17,092 234,680 347,773 695,546 Account No. G/L Acct Long Text 100000 Bank Account 110100 Accounts Receivable (Direct Posting Account) 110150 Allowance for Bad Debt 200600 Inventory-Operating Supplies 200900 Inventory-Raw Materials (Direct Post) 200910 Inventory-Finished Goods (Direct Post) 200920 Inventory-Trading Goods (Direct Post) 210000 Prepaid Insurance 212000 Prepaid Advertising 215000 Prepaid Rent 216000 Deposits on Purchase 220110 Land 220210 Production Machinery, Equipment and Fixtures 220310 Accumulated Depreciation -Production mach, Equip. 300200 Accounts Payable (Direct Posting Account) 300700 Payables-Salaries and Wages 300800 Accrued Expense 320000 Accrued Tax - Output 329000 Common Stock 330010 Retained Earnings (Direct Post) 600000 Sales Revenue 610000 Sales Discount 700000 Labor 740000 Supplies Expense 740300 Rent Expense 740400 Insurance Expense 741200 Bad Debt Expense 741500 Utilities (electricity & phone) 741800 Depreciation Expense 741900 Advertising Expense 780000 Cost of Goods Sold Beginning Balance Debit 252,518 108,420 0 750 32,000 281,298 66,474 5,000 1,000 0 0 425,000 915,000 Credit 0 0 2,500 0 0 0 0 0 0 0 0 0 0 305,000 0 47,900 0 110,000 0 988 0 3,063 0 0 1,000,000 618,009 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2,087,460 2,087,460 Account No. G/L Acct Long Text 100000 Bank Account 110100 Accounts Receivable (Direct Posting Account) 110150 Allowance for Bad Debt 200600 Inventory-Operating Supplies 200900 Inventory-Raw Materials (Direct Post) 200910 Inventory-Finished Goods (Direct Post) 200920 Inventory-Trading Goods (Direct Post) 210000 Prepaid Insurance 212000 Prepaid Advertising 215000 Prepaid Rent 216000 Deposits on Purchase 220110 Land 220210 Production Machinery, Equipment and Fixtures 220310 Accumulated Depreciation -Production mach, Equip. 300200 Accounts Payable (Direct Posting Account) 300700 Payables-Salaries and Wages 300800 Accrued Expense 320000 Accrued Tax - Output 329000 Common Stock 330010 Retained Earnings (Direct Post) 600000 Sales Revenue 610000 Sales Discount 700000 Labor 740000 Supplies Expense 740300 Rent Expense 740400 Insurance Expense 741200 Bad Debt Expense 741500 Utilities (electricity & phone) 741800 Depreciation Expense 741900 Advertising Expense 780000 Cost of Goods Sold Beginning Balance Debit 252,518 108,420 0 750 32,000 281,298 66,474 5,000 1,000 0 0 425,000 915,000 Credit 0 0 2,500 0 0 0 0 0 0 0 0 0 0 305,000 0 47,900 0 110,000 0 988 0 3,063 0 0 1,000,000 618,009 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2,087,460 2,087,460 Date 3-Jan 3-Jan Acct No 300700 100000 3-Jan 3-Jan 3-Jan 3-Jan 200920 200900 3-Jan 3-Jan 3-Jan D/C D C Acct Title #REF! Debit 110000 Bank Account Paid salaries earned in December 100000 D D C C Inventory-Trading Goods (Direct Post) Inventory-Raw Materials (Direct Post) Accounts Payable (direct Posting Account) Bank Account Received inventory from Dallas Bike Basics 110100 200920 D C Accounts Receivable (Direct Posting Account) Inventory-Trading Goods (Direct Post) $55,992 $37,378 22,000 Goods ordered by Windy City Bikes 7-Jan 7-Jan 100000 300200 D C Bank Account Accounts Payable (Direct Posting Account) Payment received from Northwest $16,850 10-Jan 10-Jan 740100 100000 D C Supplies Expense Bank Account Paid Utility expense $988 10-Jan 10-Jan 741900 212000 D C Advertising Expense Prepaid Advertising Advertisement on Italian $833 11-Jan 11-Jan 200600 100000 D C Inventory-Operating Supplies Bank Account Paid Office Supplies $350 11-Jan 11-Jan 200900 300200 D C Inventory-Raw Materials (Direct Post) Accounts Payable (Direct Posting Account) Received raw materials on account $99,418 11-Jan 11-Jan 100000 110100 D C Bank Account Accounts Receivable (Direct Posting Account) Received payment on goods sold on account $21,560 11-Jan 11-Jan 742000 100000 D C Supplies Expense Bank Account $440 Paid discount allowed 12-Jan 12-Jan 300200 100000 D C Accounts Payable (Direct Posting Account) Bank Account Paid Dallas Bikes $92,820 12-Jan 13-Jan 220210 100000 D C Production Machinery, Equipment and Fixtures Bank Account Paid production machinery $3,000 13-Jan 13-Jan 220210 300200 D C Production Machinery, Equipment and Fixtures Accounts Payable (Direct Posting Account) Received production machinery on account $4,195 17-Jan 17-Jan 200920 100000 D C Inventory-Trading Goods (Direct Post) Bank Account Paid inventory ordered $17,010 17-Jan 17-Jan 110100 200920 D C Accounts Receivable (Direct Posting Account) Inventory-Trading Goods (Direct Post) Sale of inventory on account 207,571 16-Jan 16-Jan 200900 300200 D C Inventory-Raw Materials (Direct Post) Accounts Payable (Direct Posting Account) Purchase of material on account 16-Jan 16-Jan 741200 110100 D C Bad Debt Expense Accounts Receivable (Direct Posting Account) Debts not paid $1,610 17-Jan 17-Jan 100000 110100 D C Bank Account Accounts Receivable (Direct Posting Account) Received payment on goods sold on account $89,960 19-Jan 18-Jan 300200 100000 D C Accounts Payable (Direct Posting Account) Bank Account Paid Office Supplies 18-Jan 18-Jan 110100 200920 D C Accounts Receivable (Direct Posting Account) Inventory-Trading Goods (Direct Post) Sale of inventory on account $2,300 23-Jan 110100 200920 D C Accounts Receivable (Direct Posting Account) Inventory-Trading Goods (Direct Post) Sale of inventory on account $27,450 $100,220 $350 25-Jan 212000 100000 D C Prepaid Advertising Bank Account Paid advertising in advance $15,000 26-Jan 26-Jan 100000 110100 D C Bank Account Accounts Receivable (Direct Posting Account) Received payment on goods sold on account $27,450 27-Jan 220210 300500 D C Production Machinery, Equipment and Fixtures Accounts Payable (Direct Posting Account) Funding the building on loan $1,050,000 27-Jan 200920 100000 D C Inventory-Trading Goods (Direct Post) Bank Account Paid for inventory purchased on account $30,890 27-Jan 27-Jan 110100 200920 D C Accounts Receivable (Direct Posting Account) Inventory-Trading Goods (Direct Post) Inventory sold on account 340,805 31-Jan 30-Jan 740800 100000 D C Insurance Expense Bank Account Paid sale tax $3,063 30-Jan 215000 100000 D C Prepaid Rent Bank Account Paid rent in advance $4,500 31-Jan 741300 100000 D C Bad Debt Expense Bank Account Paid installation expense $4,195 31-Jan 110100 200920 D C Accounts Receivable (Direct Posting Account) Inventory-Trading Goods (Direct Post) Order picking Cost of goods sold $340,805 Journal Transaction Ent No No Post 1 x 110000 1 x Credit 2 2 x x 22,000 3 3 x x $16,850 4 4 x x $988 5 5 x x $833 6 6 x x $350 7 7 x x $99,481 8 8 x x $21,560 9 9 x x $440 9 9 x x 550 $92,820 $92,820 10 10 x x $3,000 11 11 x x $4,195 11 11 x x $17,010 12 12 x x 207,571 13 13 x x $100,220 14 14 x x $1,610 15 15 x x $89,960 16 16 x x $350 17 17 x x $2,300 18 18 x x $27,450 19 19 x x $15,000 20 20 x x $27,450 21 21 x x $1,050,000 22 22 x x $30,890 23 23 x x 340,805 24 24 x x $3,063 25 25 x x $4,500 26 26 x x $4,195 27 27 x x $340,805 28 28 x x 1000000 Bank Account date explanation debit credit 1-Jan Beginning Balance 3-Jan To record salaries expense due but not paid 110,000 2-Jan Received Inventory from Dallas Bike Basics 550 7-Jan To record amount received from Northwest Bikes 16,850 10-Jan To record cash paid for December utility bill 988 11-Jan To record amount received from Windy City Bikes 21,560 12-Jan To record amount paid to accounts payable 92,820 13-Jan To record the acquisiton of an inventory tracking system 3,000 17-Jan To record amount paid to accounts payable 17,010 18-Jan To record amounts recived from Silicon Vally Bikes 89,960 19-Jan To record amount paid and due to Staples on Jan 11 350 25-Jan To record amount paid in advance for advertisement 15,000 26-Jan To record sales to Beantown Bikes 27,450 27-Jan To record amount paid & due to Night Rider Aluminum Products $30,890 31-Jan To record payment on slaes taxes on last quarter $3,063 31-Jan To record the amount paid on office rent $4,500 31-Jan To record the amount paid & due to CSI for the tracking system $4,195 155,820 282,366 110100 Accounts Receivable (Direct Posting Account) date explanation 1-Jan Beginning Balance 3-Jan Goods ordered by Windy City Bikes 7-Jan To record amount received from Northwest Bikes 11-Jan To record amount received from Windy City Bikes 17-Jan To record sales to Rocky Mountain Bikes on credit terms 17-Jan To record uncollectable amount on Bunky's Bucycle Emporium 18-Jan To record amounts recived from Silicon Vally Bikes 19-Jan To record sales to SoCal Bikes on credit tems 27-Jan To record sales to Big Apple Bikes on credit terms 110150 date 1-Jan Beginning Balance Allowance for bad debts explanation debit credit 22,000 16,850 22,000 128,130 $1,610 $89,960 $2,501 340,805 493,436 $130,420 debit credit 543,436 50,000 17-Jan Bad debts 200600 Inventory-Operating Supplies date explanation 1-Jan Beginning Balance 11-Jan Purchased on account 200900 Inventory- Raw material date explanation 1-Jan Beginning Balance 3-Jan Goods ordered by Windy City Bikes 17-Jan Purchased 1,610 debit credit 750 debit credit $37,128 $100,220 $137,348 237568 $100,220 200910 Inventory- Finished Goods date explanation 1-Jan Beginning Balance 17-Jan Goods ordered by Windy City Bikes 26-Jan To record sales to Beantown Bikes 31-Jan debit credit 79,441 17,092 169,586 266,119 200920 Inventory- Trading Goods date explanation 1-Jan Beginning Balance 3-Jan To record receipt of merchandise 3-Jan Goods ordered by Windy City Bikes 19-Jan To record sales to SoCal Bikes on credit tems 31-Jan Sold on account debit $55,992 $55,992 210000 Prepaid Insurance date 1-Jan Beginning Balance explanation 212000 Prepaid advertsing date explanation 1-Jan Beginning Balance 10-Jan To record publication of advertisment in Italian cycle journal 25-Jan To record amount paid in advance for advertisement credit 15,180 1,380 65,094 $81,654 debit credit debit credit $1,000 $15,000 215000 Prepaid rent date 1-Jan Beginning Balance 31-Jan Paid rent in advance explanation credit $4,500 220210 Production machinery, equipment and fixture date explanation 1-Jan Beginning Balance 13-Jan Purchased 27-Jan Building construction date debit explanation debit credit 7195 1,050,000 debit credit 130,420 AJUSTED TRIAL BALANCE Account No. G/L Acct Long Text 100000 Bank Account 110100 Accounts Receivable (Direct Posting Account) 110150 Allowance for Bad Debt 110200 Interest Receivable 200600 Inventory-Operating Supplies 200900 Inventory-Raw Materials (Direct Post) 200910 Inventory-Finished Goods (Direct Post) 200920 Inventory-Trading Goods (Direct Post) 200930 Inventory-Semi-finished Goods (Direct Post) 210000 Prepaid Insurance 211000 Prepaid Supplies 212000 Prepaid Advertising 215000 Prepaid Rent 216000 Deposits 220000 Notes Receivable 220110 Land 220210 Production Machinery, Equipment and Fixtures 220310 Accumulated Depreciation -Production mach, Equip. 220400 Office Furniture 220500 Accumulated Depreciation-Office Furniture 220600 Office Equip and Computers 220700 Accumulated Depreciation- Office Equipment 300100 Payables-Income Taxes 300200 Accounts Payable (Direct Posting Account) 300300 Payables-Interest 300400 Payables-Short-Term Notes 300500 Payables-Long-Term Notes 300600 Payables-Commissions 300700 Payables-Salaries and Wages 300800 Accrued Expense 310000 Goods Receipt / Invoice Receipt Account 320000 Accrued Tax - Output 321000 Accrued Tax- Input 322000 Unearned Revenues 329000 Common Stock 329100 Additional Paid-in-Capital 330010 Retained Earnings (Direct Post) 600000 Sales Revenue 610000 Sales Discount 620000 Miscellaneous Revenue 630000 Revenue Deductions 640000 Gain or Loss on Sale of Assets 650000 Customer Service Revenue 650100 Customer Service Revenue Settlement 720000 Raw Material Consumption Expense 720100 Finished Product Consumption Expense Debit 142,518 567,966 1,100 268,766 281,298 118,316 5,000 15,167 4,500 1,475,000 1,972,195 440 720200 Trading Good Consumption Expense 720300 Semi-Finished Consumption Expense 740000 Supplies Expense 740100 Utilities Expense 740200 Legal and Professional Expense 740300 Rent Expense 740400 Insurance Expense 740500 Payroll Expense-Office 740600 Payroll Expense-Administrative 740700 Sales Expense 740800 Tax Expense - Property 740900 Tax Expense- Income 741000 Miscellaneous Expense 741100 Labor Expense 741200 Bad Debt Expense 741300 Information Technology Expense Account 741400 Production Order Variance Expense Account 741600 Manufacturing Output settlement 741700 Manufacturing Output Settlement Variance 741800 Depreciation Expense 741900 Advertising Expense 742000 Vendor Discounts Missed 742100 Shipping Expense 760000 Purchase Price Difference 760100 Production Variance 770000 Research and Development 780000 Cost of Goods Sold TOTAL 988 3,063 110,000 1,610 4,195 833 350 4,973,305 Credit 4,110 305,000 47,900 1,050,000 988 3,063 1,634,384 1,000,000 927,860 4,973,305