intermediate accounting
F42 f B 1 Symphony Lawn Sculptues 2 Adjusted Trial Balance 3 31-Dec-20 4 Account Debit Credit 5 Cash $ 301,000 6 Accounts Receivable 11,000 7 Allowance for Bad Debt $ 8 Finished Goods Inventory 330 12,500 9 WIP Inventory 6,500 10 Raw Materials Inventory 9,000 11 Prepaid Expenses 2,000 12 Equipment 72,000 13 Acc. Dep.-Equipment 42,000 14 Building 175,000 15 Acc. Dep.-Building 70,000 16 Land 45,000 17 Equity Investments 25,000 18 Goodwill 30,000 19 Copyrights 8,000 20 Accounts Payable 19,800 21 Accrued Liabilities 5,600 22 Short-term Notes Payable 3,000 23 Long-term Notes Payable 30,000 24 Common Stock-$1 Par 100,000 25 PIC-Common 215,000 26 Retained Earnings 140,000 27 Cash Dividends 64,330 900,000 28 Sales Revenue-Sculpture Division 40,000 29 Net Income-Fountain Division 10,000 30 Sales Discounts 4,500 31 Sales Returns & Allowances Statement 2020 Adjusted TB Income Statement --- B D 18 Goodwill 30,000 19 Copyrights 8,000 20 Accounts Payable 19,800 21 Accrued Liabilities 5,600 22 Short-term Notes Payable 3,000 23 Long-term Notes Payable 30,000 24 Common Stock-$1 Par 100,000 25 PIC-Common 215,000 26 Retained Earnings 140,000 27 Cash Dividends 64,330 28 Sales Revenue-Sculpture Division 900,000 29 Net Income-Fountain Division 40,000 30 Sales Discounts 10,000 31 Sales Returns & Allowances 4,500 32 Gain on Sale of Equity Investments 4,000 33 Cost of Goods Sold 415,000 34 Advertising Expense 50,000 35 Depreciation Expense-Selling 6,000 36 Depreciation Expense-Administrative 4,000 37 Utilities Expense-Selling 18,000 38 Utilities Expense-Administrative 23,000 39 Salaries Expense-Selling 86,000 40 Salaries Expense-Administrative 144,000 41 Research and Development Expense 10,000 42 Interest Expense 1,500 10,000 43 Loss on Disposal of Fountain Division 44 Income Tax Expense 26,400 45 Total $ 1,569,730 $ 1,569,730 46 47 48 49 Statement ... 2020 Adjusted TB Income Statement F39 Email D E A 3 B Year Ended December 31, 2020 4 Sales: 5 6 Less: 7 8 Net Sales 9 10 Gross profit 11 Operating Expenses: 12 73 14 15 Income from operations 16 Other Revenues and Gains: 17 18 19 Other Expenses and Losses: 20 21 Income from continuing operations before income tax 2 3 Income from continuing operations -4 Discontinued Operations: -5 6 7 8 9 Net Income 0 Less: 1 Net income allocated to Saga shareholders 2 Earnings per common share 3 Earnings per common share: 2020 Adjusted TB Income Statement Statement F39 B D A 8 Net Sales 9 10 Gross profit 11 Operating Expenses: 12 13 14 15 Income from operations 16 Other Revenues and Gains: 17 18 19 Other Expenses and Losses: 20 21 Income from continuing operations before income tax 22 23 Income from continuing operations 24 Discontinued Operations: 25 26 27 28 29 Net Income 30 Less: 31 Net income allocated to Saga shareholders 32 Earnings per common share 33 34 Earnings per common share: 35 36 37 38 Net Income 39 2020 Adjusted TB Income Statement Statement ... 19 27 A Symphony Lawn Sculptures Statement of Retained Earnings For the Year Ended 12-31-20 Retained earnings, 1-1-XX Retained earnings, 1-1-XX,restated Add: Less: Retained earnings, 12-31-XX 5 5 7 B O 1 2 3 4 5 26 27 28 29 30 B 1 Symphony Lawn Sculptures 2 Statement of Comprehensive Income 3 For the Year Ended 12-31-20 1 Other comprehensive income: 3 Comprehensive income 1 2 1
