need help with T accounts. my unadjusted trial balance is wrong. I don't know why.

December 31, 2018 and Account 2018 713,000 2017 620,000 713,000 471,500 241,500 620,000 410,000 210,000 Sales Revenue Sales discount Net slaes Cost of goods sold Gross Profit Operating exp: Salaries & wages exp. Rent expense Utility Expense Maintenance exp. Dep. Expense (equip. & Build) Bad debt exp Insurance exp Total operating exp. Operating income Other revenues and expenses: Rent revenue Interest eyn 17,250 11,500 5,750 15,000 10,000 5,000 57,500 4,025 13,800 109,825 131,675 50,000 3,500 12,000 95,500 114,500 57,500 4,025 13,800 109,825 50,000 3,500 12,000 95,500 Dep. Expense (equip. & Build) Bad debt exp Insurance exp Total operating exp. Operating income Other revenues and expenses: Rent revenue Interest exp. Income before tax 131,675 114,500 30,000 84,500 Income tax exp. Net Income 34,500 97,175 45,000 52,175 42,000 42,500 ACCT15c 2018 Account Current Assets: Cash Accounts Receivable Inventory Prepaid Insurance Total current assets Long term Investments Equipment Accumulated depreciation-Equipment Total Assets 100,000 200,000 185,000 24,000 509,000 250,000 500,000 (150,000) 1,109,000.00 50,000 100,000 125,000 36,000 311,000 80,000 500,000 (100,000) 791,000.00 60,000 Liabilities and sharholders equity Accounts Payable Wages & Salaries Payable Unearned Sales Revenue Income tax payable Total current liabilities Bonds payable Total Liabilities 160,000 75,000 107,500 45,000 387,500 350,000 737 500 10,000 42,000 112,000 350,000 Tota Long term Investments Equipment Accumulated depreciation Equipment Total Assets 250,000 500,000 (150,000) 1,109,000.00 80,000 500,000 (100,000) 791,000.00 60,000 Liabilities and sharholders equity Accounts Payable Wages & Salaries Payable Unearned Sales Revenue Income tax payable Total current liabilities Bonds payable Total Liabilities Common shares Retained earnings 160,000 75,000 107,500 45,000 387,500 350,000 737,500 100,000 271,500 10,000 42,000 112,000 350,000 462,000 100,000 229,000 Total Liabilities and sharholders equity 1,109,000.00 791,000.00 coded calculation. Please DO NOT add any numbers to this dark line or below. e following transaction are the only transaction for ACCT 1115 co. during 2019: | 1.Group 3.JE 4.GLT accounts 5.Unadjusted TB 6. Adj. JE 7.Updated GL with adj. 8. Adjusted to 2.Data O Type here to search 1 6% 25 years, 2 3 4 5 6 7 8 9 10 1115 co. during 2019: Jan 1 purchased new building for The note principle due with the interest on Dec 31, 2019. The building expected useful life 585,930 they paid 130,207 cash and they sign 12 note payable for the balance. The note carry interest of residual (salvage) value amount of Jan 3, all wages payable from 2018 paid cash 65,103 ACCT 1115 uses straight line as their method of depreciation. Jan 8, they deliver merchandise to customer amount of 107,500 cost of these products are 26,041 Previously ACCT 1115 received cash amount of 107,500 from customer and record it in Dec 18, 2018 in account (Unearned sales revenue) Jan 12, all income taxes owed from last year are paid cash Jan13, collect from customers 130,207 cash Jan 15, issued common shares for 390,620 cash Jan 16 purchased merchandise for 273,434 from ABC co., term 3/20, n/45. FOB destination. 3% discount if paid in 20 days Jan 21 returned merchandise to ABC co amount of 13,021 Jan 28 paid the amounts owed to ABC co. Jan 31 paid utilities 6,510 cash Pan 31 paid salaries 10,417 cash Feb 2 sold merchandise of 156,248 cost of those goods was 104,165 ACCT 1115 used perpetual inventory system Feb 12 sold merchandise of 78,124 to XYZ co., term 2/10, 1/30. FOB shipping point. cost of those goods was 52,083 2% discount if received in 10 days March 1, XYZ paid their account in full Apr 1 paid rent for the months Jan-Mar amount of 3,906 260,413 Apr 15, purchased merchandise for cash 130,207 by signing a 12% 12 note payable May 1 borrow from a local bank 15,625 Aug 1, they paid for one-year rent amount of 6,510 Aug 31, paid cash for maintenance and cleaning the building 19,531 Sep 1, paid in salaries 31,250 for 12 months Sep 30, they rent part of their building to a local business and collect one year rent in advance amount of 260,413 to BC ltd., cost of those goods was 130,207 Oct 21 sold merchandise on account for 65,103 cash on their account Nov 1, Bc Itd., paid 6.Adj. JE 8.Adjusted TB 5.Unadjusted TB 7.Updated GL with adj. 4.GL_T accounts 1. Group 11 12 13 14 15 16 17 18 19 20 21 22 23 9. Financial Statements 10.Financial Ratios 2.Data 3.JE 12:1 g 3C Sunny 4) ENG i 2021- ob F G 22 Pan 31 paid salaries H K L N M 87 12 Feb 2 sold merchandise of 10,417 cash 88 13 Feb 12 sold merchandise of 156,248 cost of those goods was 104,165 ACCT 1115 used perpetual inventory system 89 14 March 1, XYZ paid their account in full 78,124 to XYZ co., term 2/10, n/30. FOB shipping point. cost of those goods was 52,083 2% discount if received 90 15 Apr 1 paid rent for the months Jan-Mar amount of 91 16 3,906 Apr 15, purchased merchandise for cash 92 17 260,413 May 1 borrow from a local bank 130,207 by signing a 18 12% 93 12 note payable Aug 1, they paid for one-year rent amount of 15,625 94 19 Aug 31, paid cash for maintenance and cleaning the building 6,510 95 20 Sep 1, paid in salaries 19,531 96 21 Sep 30, they rent part of their building to a local business and collect one year rent in advance amount of 31,250 for 12 months 97 Oct 21 sold merchandise on account for 260,413 to BC ltd., cost of those goods was 130,207 98 23 Nov 1, Bc ltd., paid 65,103 cash on their account 99 24 Nov 8 sold merchandise to SK co., for 273,434 term 2/10, 1/30. FOB shipping point. Cost of those goods was 182,289 2% discount if received in 10 da 100 25 Nov 14, SK paid their account in full 101 26 Dec 31, paid income taxes amount of 10,000 102 103 Notes (assumptions): 104 A. ACCT 1115 using perpetual inventory system 500,000 10 105 B. Equipment on their SFP purchased on 2016 for $500,000 with 106 $0 residual value, depreciated straight line over 10 year estimated useful life. 3% 107 C. They use aging accounts receivables method to estimate any bad debt expenses. They estimated 3% 108 of outstanding net Accounts Receivables t year yean sales at year will not be collected 3 years insurance 109 D. Prepaid insurance was paid on Jan 1,2017 to cover 110 E. No accruals/ deferrals other than the ones found in the above transactions, 111 Required: Following the excel sheet template Prepare: Round your answers to nearst $1 dollar. This is not apply on the ratios 112 Credit 2019 - 01-Jan Debit 585,930 130,207 455,724 75,000 2 03-Jan 03-Jan 75,000 3 08-Jan 107,500 107,500 26,041 26,041 4 12-Jan 45,000 Account Titles Building Cash Notes Payable Wages & Salaries Payable Cash Unearned Sales Revenue Sales Revenue Cost of Goods Sold Inventory Income Tax Payable Cash Cash Accounts Receivable Cash Common Shares Inventory Accounts Payable Accounts Payable Inventory Accounts Payable Inventory Cash 45,000 5 13-Jan 130,207 130,207 6 15-Jan 390,620 390,620 7 16-Jan 273,434 273,434 8 21-Jan 13,021 13,021 9 28-Jan 260,413 7,812 252,601 A 9 28-Jan Accounts Payable Inventory 260,413 7,812 252,601 Cash 10 31-Jan 6,510 Utilities Expense Cash Wages & Salaries Expense Cash 6,510 11 31-Jan 10,417 10,417 12 02-Feb Accounts Receivable Sales Revenue 156,248 156,248 Cost of Goods Sold 104,165 Inventon 2.Data 1. Group 104 165 JE 4 G Taccounta ASSETS Cash dr + cr- dr- Beg. B. 5 1 6 2 14 4 9 100,000 130,207 390,620 78,124 130,207 31,250 65,103 267,965 17 9 21 10 11 23 25 130,207 75,000 45,000 252,601 6,510 10,417 3,906 260,413 15,625 6,510 19,531 10,000 140,623 16 dr- 18 19 31-Dec 20 26 31-Dec End 217,132 dr- Unear dr + Accounts Receivable or - Beg. B. 1 12 5 200,000 156,248 78,124 260,413 13 14 130,207 78,124 65,103 273,434 22 23 24 273,434 dr Unear End 421,351 dr + Cr - Beg. B. Inventory 185,000 273,434 26,041 260,413 13,021 7 3 dr- Wages 16 8 09 B 10,417 156,248 2 02-Feb 156,248 104,165 104,165 78,124 13 12-Feb 78,124 52,083 52,083 78,124 14 01-Mar 78,124 15 01-Apr 3,906 3,906 16 15-Apr 260,413 260,413 17 01-May C Cash Accounts Receivable Sales Revenue Cost of Goods Sold Inventory Accounts Receivable Sales Revenue Cost of Goods Sold Inventory Cash Accounts Receivable Rent Expense Cash Inventory Cash Cash Notes Payable Prepaid Rent Cash Maintenance Expense Cash Wages & Salaries Expense Cash Cash Unearned Rent Revenue Accounts Receivable Sales Revenue Cost of Goods Sold Inventory Cash Accounts Receivable LAccounts Rereivable 130,207 130,207 18 01-Aug 15,625 15,625 19 31-Aug 6,510 6,510 20 01-Sep 19,531 19,531 21 30-Sep 31,250 31,250 22 21-Oct 260,413 260,413 130,207 130,207 23 01-Nov 65,103 65,103 24. Log-Nov. 270 482 E B C D 19,531 01-Sep 19,531 31,250 30-Sep 31,250 260,413 21-Oct 260,413 130,207 130,207 65,103 01-Nov Wages & Salaries Expense Cash Cash Unearned Rent Revenue Accounts Receivable Sales Revenue Cost of Goods Sold Inventory Cash Accounts Receivable Accounts Receivable Sales Revenue Cost of Goods Sold Inventory Cash Sales Discount Accounts Receivable Income Tax Expense Cash 65,103 273,434 08-Nov 273,434 182,289 182,289 14-Nov 267,965 5,469 273,434 31-Dec 10,000 10,000 Dec 31, the note payable and the interest need to be calculated and paid Can be done here or in Adj. JE sheet Interest expense = Notes Payable x 12% x8/12 31-Dec Notes Payable Interest expense Cash 130,207 10,417 140,623 4,195,785 4,195,785 dr. LIABILITIES Accounts Payable crt 160,000 273,484 13,021 260,413 160,000 End Beg 7 8 9 dr- Notes Payable crt Beg 1 31-Dec 130,207 455,724 130,207 455,724 End 17 dr- Unearned sales Revenue cr+ 107,500 Beg 31 3 107,500 End dr- Unearned Rent Revenue crt 0 Beg 21 31,250 31,250 End dr- Wages & salaries payable crt 75,000 Beg dr- or SHAREHOLDERS EQUITY Common Shares 100,000 390,620 490,620 Beg 6 End dr + or Retained earnings 271,500 Beg 271,500 End REVENUES dr- Sales Revenue c 713000 Beg 107,500 156,248 78,124 12 NN w da 260,413 273,434 24 1,588,720 End dr + Sales Discount or - Beg 25 5,469 5,469 End or - dr + Cost of Goods Sold Beg 471500 3 26,041 104,165 dr + cr- Beg. B. Inventory 185,000 273,434 26,041 7 3 16 260,413 8 13,021 7,812 104,165 9 12 52,083 13 130,207 22 182,289 24 End 203,229 dr- Prepaid Insurance exp. crt 24,000 Beg End 24,000 Prepaid rent exp. crt Beg 11500 18 15,625 End 27. 125 dr + Long term investments cr 250,000 ) Beg End 250,000 3 1 dr + or Equipment 500 000 Beo 31,250 21 31,250 End dr- Wages & salaries payable cr+ 75,000 75,000 Beg 2 End dr- Cr+ Income Tax payable 45,000 Beg 4 45,000 End dr- Bonds payable 350,000 Beg 350,000 End 5.Unadjusted TB 6.Adj. JE 7.Updated Gl with adj. 8.Adjusted TB 9.Fin End 5,469 dr + Cost of Goods Sold or - Beg 471500 26,041 12 104,165 52,083 130,207 22 24 182,289 966,286 End dr + Rent Expense or = Beg 11500 15 3,906 End 15,406 dr + alaries & wages Expens cr Beg 17250 10,417 19,531 20 End 47.198 dr + er -- Utility Expense 5,750 Beg 10 6,510 18 15,625 End 27.125 dr + Long term investments cr - 250,000 Beg End 250,000 dr + 1 Equipment 500,000 Beg End 500,000 dr + Accumulated dep. Equi cr - 57,500 Beg End dr + --- Building ar Beg 0 585,930 585,930 End Beg 17250 10,417 19,531 20 End 47 198 dr + Utility Expense or Beg 5,750 10 6,510 End 12 260 dr- Maintenance exp. cr+ Beg 19 6,510 End 6,510 dr + Interest expense Beg 31-Dec 34,500 10,417 44,917 End dr + Income tax exp. cr Beg 26-Jan End 45,000 10,000 55,000 December 31, 2018 and Account 2018 713,000 2017 620,000 713,000 471,500 241,500 620,000 410,000 210,000 Sales Revenue Sales discount Net slaes Cost of goods sold Gross Profit Operating exp: Salaries & wages exp. Rent expense Utility Expense Maintenance exp. Dep. Expense (equip. & Build) Bad debt exp Insurance exp Total operating exp. Operating income Other revenues and expenses: Rent revenue Interest eyn 17,250 11,500 5,750 15,000 10,000 5,000 57,500 4,025 13,800 109,825 131,675 50,000 3,500 12,000 95,500 114,500 57,500 4,025 13,800 109,825 50,000 3,500 12,000 95,500 Dep. Expense (equip. & Build) Bad debt exp Insurance exp Total operating exp. Operating income Other revenues and expenses: Rent revenue Interest exp. Income before tax 131,675 114,500 30,000 84,500 Income tax exp. Net Income 34,500 97,175 45,000 52,175 42,000 42,500 ACCT15c 2018 Account Current Assets: Cash Accounts Receivable Inventory Prepaid Insurance Total current assets Long term Investments Equipment Accumulated depreciation-Equipment Total Assets 100,000 200,000 185,000 24,000 509,000 250,000 500,000 (150,000) 1,109,000.00 50,000 100,000 125,000 36,000 311,000 80,000 500,000 (100,000) 791,000.00 60,000 Liabilities and sharholders equity Accounts Payable Wages & Salaries Payable Unearned Sales Revenue Income tax payable Total current liabilities Bonds payable Total Liabilities 160,000 75,000 107,500 45,000 387,500 350,000 737 500 10,000 42,000 112,000 350,000 Tota Long term Investments Equipment Accumulated depreciation Equipment Total Assets 250,000 500,000 (150,000) 1,109,000.00 80,000 500,000 (100,000) 791,000.00 60,000 Liabilities and sharholders equity Accounts Payable Wages & Salaries Payable Unearned Sales Revenue Income tax payable Total current liabilities Bonds payable Total Liabilities Common shares Retained earnings 160,000 75,000 107,500 45,000 387,500 350,000 737,500 100,000 271,500 10,000 42,000 112,000 350,000 462,000 100,000 229,000 Total Liabilities and sharholders equity 1,109,000.00 791,000.00 coded calculation. Please DO NOT add any numbers to this dark line or below. e following transaction are the only transaction for ACCT 1115 co. during 2019: | 1.Group 3.JE 4.GLT accounts 5.Unadjusted TB 6. Adj. JE 7.Updated GL with adj. 8. Adjusted to 2.Data O Type here to search 1 6% 25 years, 2 3 4 5 6 7 8 9 10 1115 co. during 2019: Jan 1 purchased new building for The note principle due with the interest on Dec 31, 2019. The building expected useful life 585,930 they paid 130,207 cash and they sign 12 note payable for the balance. The note carry interest of residual (salvage) value amount of Jan 3, all wages payable from 2018 paid cash 65,103 ACCT 1115 uses straight line as their method of depreciation. Jan 8, they deliver merchandise to customer amount of 107,500 cost of these products are 26,041 Previously ACCT 1115 received cash amount of 107,500 from customer and record it in Dec 18, 2018 in account (Unearned sales revenue) Jan 12, all income taxes owed from last year are paid cash Jan13, collect from customers 130,207 cash Jan 15, issued common shares for 390,620 cash Jan 16 purchased merchandise for 273,434 from ABC co., term 3/20, n/45. FOB destination. 3% discount if paid in 20 days Jan 21 returned merchandise to ABC co amount of 13,021 Jan 28 paid the amounts owed to ABC co. Jan 31 paid utilities 6,510 cash Pan 31 paid salaries 10,417 cash Feb 2 sold merchandise of 156,248 cost of those goods was 104,165 ACCT 1115 used perpetual inventory system Feb 12 sold merchandise of 78,124 to XYZ co., term 2/10, 1/30. FOB shipping point. cost of those goods was 52,083 2% discount if received in 10 days March 1, XYZ paid their account in full Apr 1 paid rent for the months Jan-Mar amount of 3,906 260,413 Apr 15, purchased merchandise for cash 130,207 by signing a 12% 12 note payable May 1 borrow from a local bank 15,625 Aug 1, they paid for one-year rent amount of 6,510 Aug 31, paid cash for maintenance and cleaning the building 19,531 Sep 1, paid in salaries 31,250 for 12 months Sep 30, they rent part of their building to a local business and collect one year rent in advance amount of 260,413 to BC ltd., cost of those goods was 130,207 Oct 21 sold merchandise on account for 65,103 cash on their account Nov 1, Bc Itd., paid 6.Adj. JE 8.Adjusted TB 5.Unadjusted TB 7.Updated GL with adj. 4.GL_T accounts 1. Group 11 12 13 14 15 16 17 18 19 20 21 22 23 9. Financial Statements 10.Financial Ratios 2.Data 3.JE 12:1 g 3C Sunny 4) ENG i 2021- ob F G 22 Pan 31 paid salaries H K L N M 87 12 Feb 2 sold merchandise of 10,417 cash 88 13 Feb 12 sold merchandise of 156,248 cost of those goods was 104,165 ACCT 1115 used perpetual inventory system 89 14 March 1, XYZ paid their account in full 78,124 to XYZ co., term 2/10, n/30. FOB shipping point. cost of those goods was 52,083 2% discount if received 90 15 Apr 1 paid rent for the months Jan-Mar amount of 91 16 3,906 Apr 15, purchased merchandise for cash 92 17 260,413 May 1 borrow from a local bank 130,207 by signing a 18 12% 93 12 note payable Aug 1, they paid for one-year rent amount of 15,625 94 19 Aug 31, paid cash for maintenance and cleaning the building 6,510 95 20 Sep 1, paid in salaries 19,531 96 21 Sep 30, they rent part of their building to a local business and collect one year rent in advance amount of 31,250 for 12 months 97 Oct 21 sold merchandise on account for 260,413 to BC ltd., cost of those goods was 130,207 98 23 Nov 1, Bc ltd., paid 65,103 cash on their account 99 24 Nov 8 sold merchandise to SK co., for 273,434 term 2/10, 1/30. FOB shipping point. Cost of those goods was 182,289 2% discount if received in 10 da 100 25 Nov 14, SK paid their account in full 101 26 Dec 31, paid income taxes amount of 10,000 102 103 Notes (assumptions): 104 A. ACCT 1115 using perpetual inventory system 500,000 10 105 B. Equipment on their SFP purchased on 2016 for $500,000 with 106 $0 residual value, depreciated straight line over 10 year estimated useful life. 3% 107 C. They use aging accounts receivables method to estimate any bad debt expenses. They estimated 3% 108 of outstanding net Accounts Receivables t year yean sales at year will not be collected 3 years insurance 109 D. Prepaid insurance was paid on Jan 1,2017 to cover 110 E. No accruals/ deferrals other than the ones found in the above transactions, 111 Required: Following the excel sheet template Prepare: Round your answers to nearst $1 dollar. This is not apply on the ratios 112 Credit 2019 - 01-Jan Debit 585,930 130,207 455,724 75,000 2 03-Jan 03-Jan 75,000 3 08-Jan 107,500 107,500 26,041 26,041 4 12-Jan 45,000 Account Titles Building Cash Notes Payable Wages & Salaries Payable Cash Unearned Sales Revenue Sales Revenue Cost of Goods Sold Inventory Income Tax Payable Cash Cash Accounts Receivable Cash Common Shares Inventory Accounts Payable Accounts Payable Inventory Accounts Payable Inventory Cash 45,000 5 13-Jan 130,207 130,207 6 15-Jan 390,620 390,620 7 16-Jan 273,434 273,434 8 21-Jan 13,021 13,021 9 28-Jan 260,413 7,812 252,601 A 9 28-Jan Accounts Payable Inventory 260,413 7,812 252,601 Cash 10 31-Jan 6,510 Utilities Expense Cash Wages & Salaries Expense Cash 6,510 11 31-Jan 10,417 10,417 12 02-Feb Accounts Receivable Sales Revenue 156,248 156,248 Cost of Goods Sold 104,165 Inventon 2.Data 1. Group 104 165 JE 4 G Taccounta ASSETS Cash dr + cr- dr- Beg. B. 5 1 6 2 14 4 9 100,000 130,207 390,620 78,124 130,207 31,250 65,103 267,965 17 9 21 10 11 23 25 130,207 75,000 45,000 252,601 6,510 10,417 3,906 260,413 15,625 6,510 19,531 10,000 140,623 16 dr- 18 19 31-Dec 20 26 31-Dec End 217,132 dr- Unear dr + Accounts Receivable or - Beg. B. 1 12 5 200,000 156,248 78,124 260,413 13 14 130,207 78,124 65,103 273,434 22 23 24 273,434 dr Unear End 421,351 dr + Cr - Beg. B. Inventory 185,000 273,434 26,041 260,413 13,021 7 3 dr- Wages 16 8 09 B 10,417 156,248 2 02-Feb 156,248 104,165 104,165 78,124 13 12-Feb 78,124 52,083 52,083 78,124 14 01-Mar 78,124 15 01-Apr 3,906 3,906 16 15-Apr 260,413 260,413 17 01-May C Cash Accounts Receivable Sales Revenue Cost of Goods Sold Inventory Accounts Receivable Sales Revenue Cost of Goods Sold Inventory Cash Accounts Receivable Rent Expense Cash Inventory Cash Cash Notes Payable Prepaid Rent Cash Maintenance Expense Cash Wages & Salaries Expense Cash Cash Unearned Rent Revenue Accounts Receivable Sales Revenue Cost of Goods Sold Inventory Cash Accounts Receivable LAccounts Rereivable 130,207 130,207 18 01-Aug 15,625 15,625 19 31-Aug 6,510 6,510 20 01-Sep 19,531 19,531 21 30-Sep 31,250 31,250 22 21-Oct 260,413 260,413 130,207 130,207 23 01-Nov 65,103 65,103 24. Log-Nov. 270 482 E B C D 19,531 01-Sep 19,531 31,250 30-Sep 31,250 260,413 21-Oct 260,413 130,207 130,207 65,103 01-Nov Wages & Salaries Expense Cash Cash Unearned Rent Revenue Accounts Receivable Sales Revenue Cost of Goods Sold Inventory Cash Accounts Receivable Accounts Receivable Sales Revenue Cost of Goods Sold Inventory Cash Sales Discount Accounts Receivable Income Tax Expense Cash 65,103 273,434 08-Nov 273,434 182,289 182,289 14-Nov 267,965 5,469 273,434 31-Dec 10,000 10,000 Dec 31, the note payable and the interest need to be calculated and paid Can be done here or in Adj. JE sheet Interest expense = Notes Payable x 12% x8/12 31-Dec Notes Payable Interest expense Cash 130,207 10,417 140,623 4,195,785 4,195,785 dr. LIABILITIES Accounts Payable crt 160,000 273,484 13,021 260,413 160,000 End Beg 7 8 9 dr- Notes Payable crt Beg 1 31-Dec 130,207 455,724 130,207 455,724 End 17 dr- Unearned sales Revenue cr+ 107,500 Beg 31 3 107,500 End dr- Unearned Rent Revenue crt 0 Beg 21 31,250 31,250 End dr- Wages & salaries payable crt 75,000 Beg dr- or SHAREHOLDERS EQUITY Common Shares 100,000 390,620 490,620 Beg 6 End dr + or Retained earnings 271,500 Beg 271,500 End REVENUES dr- Sales Revenue c 713000 Beg 107,500 156,248 78,124 12 NN w da 260,413 273,434 24 1,588,720 End dr + Sales Discount or - Beg 25 5,469 5,469 End or - dr + Cost of Goods Sold Beg 471500 3 26,041 104,165 dr + cr- Beg. B. Inventory 185,000 273,434 26,041 7 3 16 260,413 8 13,021 7,812 104,165 9 12 52,083 13 130,207 22 182,289 24 End 203,229 dr- Prepaid Insurance exp. crt 24,000 Beg End 24,000 Prepaid rent exp. crt Beg 11500 18 15,625 End 27. 125 dr + Long term investments cr 250,000 ) Beg End 250,000 3 1 dr + or Equipment 500 000 Beo 31,250 21 31,250 End dr- Wages & salaries payable cr+ 75,000 75,000 Beg 2 End dr- Cr+ Income Tax payable 45,000 Beg 4 45,000 End dr- Bonds payable 350,000 Beg 350,000 End 5.Unadjusted TB 6.Adj. JE 7.Updated Gl with adj. 8.Adjusted TB 9.Fin End 5,469 dr + Cost of Goods Sold or - Beg 471500 26,041 12 104,165 52,083 130,207 22 24 182,289 966,286 End dr + Rent Expense or = Beg 11500 15 3,906 End 15,406 dr + alaries & wages Expens cr Beg 17250 10,417 19,531 20 End 47.198 dr + er -- Utility Expense 5,750 Beg 10 6,510 18 15,625 End 27.125 dr + Long term investments cr - 250,000 Beg End 250,000 dr + 1 Equipment 500,000 Beg End 500,000 dr + Accumulated dep. Equi cr - 57,500 Beg End dr + --- Building ar Beg 0 585,930 585,930 End Beg 17250 10,417 19,531 20 End 47 198 dr + Utility Expense or Beg 5,750 10 6,510 End 12 260 dr- Maintenance exp. cr+ Beg 19 6,510 End 6,510 dr + Interest expense Beg 31-Dec 34,500 10,417 44,917 End dr + Income tax exp. cr Beg 26-Jan End 45,000 10,000 55,000