Instructions ACCOUNT TITLE DEBIT CREDIT 4,500.00 1 Petty Cash 2 Cash 243,960,00 3 Notes Receivable 100,000.00 4 Accounts Receivable 470,000.00 16,000.00 s Allowance for Doubtful Accounts 6 Inventory 320,000.00 7 Interest Receivable 1,875.00 8 Prepaid Insurance 45,640.00 9 Office Supplies 13,400,00 10 Land 654,925.00 11 Buildings 900,000.00 12 Accumulated Depreciation-Buildings 36,000.00 13 Office Equipment 246,000.00 14 Accumulated Depreciation Office Equipment 44,000.00 15 Store Equipment 112,000.00 16 Accumulated Depreciation Store Equipment 5,000.00 17 Mineral Rights 546,000.00 18 Accumulated Depletion 30,000.00 19 Patents 42,000.00 20 Social Security Tax Payable 25,470.00 21 Medicare Tax Payable 4,710.00 22 Employees Income Tax Payable 40,000.00 270.00 23 State Unemployment Tax Payable 24 Federal Unemployment Tax Payable 25 Salaries Payable 40.00 157,000.00 25 Accounts Payable 131,600.00 27 Interest Payable 28,000.00 28 Product Warranty Payable 76,000.00 29 Vacation Pay Payable 10,500.00 50,700.00 30 Unfunded Pension Liability 31 Notes Payable 700,000.00 32 Common Stock 500,000.00 35 Retained Earnings 1,845,010,00 30 Unfunded Pension Liability 50,700.00 31 Notes Payable 700,000.00 32 Common Stock 500,000.00 33 Retained Eamings 1,845,010.00 34 Totals 3,700,300.00 3,700,300.00 Instructions ACCOUNT TITLE DEBIT CREDIT 4,500.00 1 Petty Cash 2 Cash 243,960,00 3 Notes Receivable 100,000.00 4 Accounts Receivable 470,000.00 16,000.00 s Allowance for Doubtful Accounts 6 Inventory 320,000.00 7 Interest Receivable 1,875.00 8 Prepaid Insurance 45,640.00 9 Office Supplies 13,400,00 10 Land 654,925.00 11 Buildings 900,000.00 12 Accumulated Depreciation-Buildings 36,000.00 13 Office Equipment 246,000.00 14 Accumulated Depreciation Office Equipment 44,000.00 15 Store Equipment 112,000.00 16 Accumulated Depreciation Store Equipment 5,000.00 17 Mineral Rights 546,000.00 18 Accumulated Depletion 30,000.00 19 Patents 42,000.00 20 Social Security Tax Payable 25,470.00 21 Medicare Tax Payable 4,710.00 22 Employees Income Tax Payable 40,000.00 270.00 23 State Unemployment Tax Payable 24 Federal Unemployment Tax Payable 25 Salaries Payable 40.00 157,000.00 25 Accounts Payable 131,600.00 27 Interest Payable 28,000.00 28 Product Warranty Payable 76,000.00 29 Vacation Pay Payable 10,500.00 50,700.00 30 Unfunded Pension Liability 31 Notes Payable 700,000.00 32 Common Stock 500,000.00 35 Retained Earnings 1,845,010,00 30 Unfunded Pension Liability 50,700.00 31 Notes Payable 700,000.00 32 Common Stock 500,000.00 33 Retained Eamings 1,845,010.00 34 Totals 3,700,300.00 3,700,300.00
