My question is, for the Excel sheet below, what entries should it have?
H Bust-A-Move Snowboard General Ledger Date Accounts Reference Debit Credit 3 1 2 3 4 5 5 7 3 1 2 4 5 5 7 3 . 1 2 3 4. 5 5 7 3 Adjusted TB - Template Balance Sheet Template IS Template RE Template Closing Journal Entry Post-Closing TB - Template pady D Credit B 2 Adjusted Trial Balance 3 December 31, 2018 4 5 Account Title 6 Cash 7 Accounts receievable $ 8 Allowance for doubtful accounts 9 Inventory $ 10 Prepaid rent $ 11 Supplies 12 Land $ Debit 119,000 115,000 $ 4,025 79, 115 8,000 1,200 $ 48,000 250,000 60,000 $ 13 Building 14 Equimpment 15 Acoumulated depreciation - buildings 16 Accumulated depreciation - equimpment 17 Goodwill $ 62,500 25,000 $ $ 31,950 27,370 $ $ $ 157,715 178,000 104,000 96,000 126,000 731,000 $ $ $ $ 444,500 201,000 15,000 18 Patent 19 Accounts payable 20 Notes payable 21 Unearned service revenue 22 Common stock 23 Retained earnings 24 Revenue 25 Salary expense 26 Costs of goods sold 27 Advertising expense 28 Rent expense 29 Miso, expense 30 Supplies expense 31 Depreciation expense 32 Slaries payable 33 Loss on sales of equimpment 34 Amortization expense 35 Market decline inventory 36 Bad bebit expense 37 Allowance to reduce inventory $ 48,000 $ $ 1,000 4,800 19,500 $ 4,500 $ 2,000 $ 6,680 3,858 6,625 $ $ 3,858 38 39 40 41 42 43 $ 1,492,598 $ 1,492,598 Adjusted TB - Template Balance Sheet Template IS D E TI G B Bust-A-Move Snowboards, Inc. Balance Sheet As of December 31, 2018 000 in WN 5 Assets 119,000 $ 115,000 $ (4,025) 110,975 75,257 1,200 8,000 314,432 48,000 $ 250,000 $ (62,500) $ 187,500 $ 60,000 $ (25,000) $ 35,000 270,500 6 Cash 7 Accounts receiveable 8 Allowance for doubtful debts 9 Inventory 10 Supplies 11 Prepaid rent 12 Total current assets 13 14 Plant, Property, & Equimpmet 15 Land 16 Buildings 17 Acoumlated deapression 18 Buildings (net) 19 20 Equimpment 21 Accumulated depreciation 22 Equimpment (net) 23 Total plant, property, and equimpment 24 25 Intangibles 26 Goodwill 27 Patent 28 Total Assets 29 Current Liabilities 30 Accounts payable 31 Salaries payable 32 Unearned revenue 33 Total Current Libabities 34 35 Long Term Liabilities 36 Notes payable 87 Total Libilities 38 39 Stockholders Equity 40 common stock 41 retained earnings 42 Total stockholders equity 43 Total Libilities & Stockholders equity 44 $ 31,950 $ 27,370 59,320 644,252 $ 157,715 $ 4,500 $ 104,000 266,215 178,000 Assumed to be longterm 444,215 $ 96,000 $ 104,037 200,037 644,252 B D E G 1 2 3 Bust-A-Move Snowboards, Inc. Income Statement For the Period Ending December 31, 2018 4 $ 731,000 -201,000 Any time I do the () it automatically takes it away here. 530,000 5 Sales revenue 6 Cost of goods sold 7 Gross profit 8 Expenses 9 Salary expense 110 Advertising expense 11 Rent expense 12 Misc. expense 13 Supplies 14 Depreciation expenses 15 Amortization expenses 16 Bad debts expenses 17 Total expenses 18 Operating income 19 Other expenses and losses 20 Market value decline 21 Loss on sale of equimpment 22 Net income 23 24 $ 444,500 $ 15,000 $ 48,000 $ 1,000 $ 4,800 $ 19,500 $ 6,680 $ 6,625 546,105 $ (16,105) | $ $ 3,858 2,000 $ 5,858 (21,963) $ 25 1 A B Bust-A-Move Snowboards, Inc. Statement of Retained Earnings As of December 31, 2018 N min 5 Opening balance 6 Net income (loss) during the year 7 8 Dividends 9 Closing balance 10 11 12 $ 126,000 $ (21,963) $ 104,037 $ $ 104,037 13 14 15 16 17 18 19 D 2 Bust-A-Move Snowboards, Inc. Post-Closing Trial Balance December 31, 2018 Debit Credit Account Title cash 119,000 115,000 $ $ 4,025 79,115 $ 3,858 $ 8,000 $ Accounts receivable allowance for doubtful accounts e Inventory Allowance to reduce inventory 1 Prepaid rent 2 Supplies 3 Land 4 Buildings s Equipment + Accumulated depreciation - buildings 7 Accumulated depreciation - equipment 3 Goodwill $ 1,200 48,000 250,000 60,000 $ $ $ 62,500 25,000 $ $ 31,950 27,370 $ 9 Patent Accounts payable Notes payable 2 Salaries payable 3 Unearned revenue $ 157,715 178,000 4,500 $ $ $ 4 Common stock s Retained earnings 6 TOTALS 104,000 96,000 104,037 739,635 $ $ 739,635 $ 7 3
