Marks-8 CREDIT 130,350 54600 83,000 100,000 40.500 650 1200 183.200 Q No.1 AUSTIN SOUND SEREO CENTER, INC. TRIAL BALANCE DECEMBER 31,2012 TITLE OF ACCOUNT DEBIT Cash Account receivable Note receivable Land Inventory-onning Supplies Prepaid insurance Fumiture and Fixture Accumulated depreciation-furniture Account payable Note payable (long-term) Capital-Frank Sales revenue Sales discount Sales retum and allowance Commission income Purchases Purchases discount Purchases return and allowances Freight in Rent expense Salaries expense Insurance expense 2400 47.000 12.600 275.000 364.500 1400 2000 600 89,300 3000 1200 5200 8400 5000 1500 TOTAL 706.300 706.300 ADJUSTMENT DATA 1. Depreciation for the year Rs. 600 2. Inventory on hand at the end of the year Rs. 32.000 3. Tax rate 15% INSTRUCTIOS: Income Statement showing EBIT and EAT marks-04 Balance Sheet marks-04