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Need to Prepare Balance sheet and Income Statement 12-31-2017 12-31-2018 ACCT ACCOUNT POST CLOSING UNADJUSTED ADJUSTMENTS ADJUSTED INCOME BALANCE NO. TITLE TRIAL BALANCE TRIAL BALANCE

Need to Prepare Balance sheet and Income Statement

12-31-2017 12-31-2018
ACCT ACCOUNT POST CLOSING UNADJUSTED ADJUSTMENTS ADJUSTED INCOME BALANCE
NO. TITLE TRIAL BALANCE TRIAL BALANCE TRIAL BALANCE STATEMENT SHEET
DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
ASSETS
111000 General checking account 21,38,784.99 21,50,317.00 21,50,317.00 21,50,317.00
112000 Payroll checking account 28,726.39 1,000.00 1,000.00 1,000.00
113000 Money market account 7,75,549.73 7,82,546.49 7,82,546.49 7,82,546.49
114000 Savings account 48,876.82 51,745.56 51,745.56 51,745.56
119000 Petty cash 500.00 500.00 500.00 500.00
121000 Accounts receivable 49,13,697.13 53,66,569.32 53,66,569.32 53,66,569.32
129000 Allowance for bad debts 97,459.89 95,401.58 10,973.45 1,06,375.03 1,06,375.03
141000 Inventory - production 104,07,164.74 115,78,434.36 115,78,434.36 115,78,434.36
145000 Inventory - finished goods 39,02,457.04 40,12,626.83 40,12,626.83 40,12,626.83
150000 Prepaid expenses 84,636.54 1,42,465.96 1,42,465.96 1,42,465.96
160000 Land and buildings 153,50,295.73 163,58,487.34 163,58,487.34 163,58,487.34
170000 Equipment 128,29,549.56 138,75,131.10 138,75,131.10 138,75,131.10
180000 Accumulated depreciation 141,40,830.31 153,42,029.47 153,42,029.47 153,42,029.47
191000 Investments 20,80,764.31 30,95,227.56 30,95,227.56 30,95,227.56
LIABILITIES
210000 Accounts payable 36,82,954.12 49,87,975.79 49,87,975.79 49,87,975.79
222100 Federal income tax withheld 64,442.36 67,294.17 67,294.17 67,294.17
222200 FICA withheld 12,407.35 12,681.48 12,681.48 12,681.48
222300 Medicare withheld 2,831.56 2,965.82 2,965.82 2,965.82
223100 FICA payable - employer 12,107.35 12,681.48 12,681.48 12,681.48
223200 Medicare payable - employer 2,831.56 2,965.82 2,965.82 2,965.82
223300 Unemployment taxes payable 846.39 943.57 943.57 943.57
230000 Other accrued expenses 5,68,998.06 5,99,411.86 5,99,411.86 5,99,411.86
235000 Federal income taxes payable 1,57,448.31 1,48,925.04 1,48,925.04 1,48,925.04
236000 Property taxes payable 0.00 0.00 0.00
240000 Mortgages payable 74,42,445.94 76,39,067.73 76,39,067.73 76,39,067.73
261000 Notes payable 6,54,000.00 8,16,500.00 8,16,500.00 8,16,500.00
STOCKHOLDERS' EQUITY
310000 Common stock 90,000.00 90,000.00 90,000.00 90,000.00
311000 Paid-in capital in excess of par - common 35,67,265.00 35,67,265.00 35,67,265.00 35,67,265.00
312000 Dividends - common 0.00 0.00 0.00 0.00
390000 Retained earnings 220,64,134.78 220,64,134.78 220,64,134.78 220,64,134.78
REVENUE
410000 Sales 223,10,170.95 223,10,170.95 223,10,170.95
420000 Sales discounts 3,47,614.00 3,47,614.00 3,47,614.00
430000 Sales returns and allowances 15,651.33 15,651.33 15,651.33
491000 Dividend income 4,000.00 4,000.00 4,000.00
492000 Interest income 24,332.56 24,332.56 24,332.56
COST OF GOODS SOLD
510000 Cost of goods sold 115,45,511.59 115,45,511.59 115,45,511.59
EXPENSES
601000 Wages and salaries expense 19,72,322.74 19,72,322.74 19,72,322.74
601500 Sales commissions expense 7,71,665.60 7,71,665.60 7,71,665.60
602100 FICA tax expense 2,44,568.36 2,44,568.36 2,44,568.36
602200 Medicare tax expense 57,197.43 57,197.43 57,197.43
602300 FUTA expense 7,392.00 7,392.00 7,392.00
602400 SUTA expense 22,176.00 22,176.00 22,176.00
611000 Utilities expense 3,25,954.67 3,25,954.67 3,25,954.67
611300 Irrigation & waste disposal expense 2,30,910.91 2,30,910.91 2,30,910.91
612000 Landscaping expense 1,42,475.69 1,42,475.69 1,42,475.69
621000 Advertising expense 2,96,794.33 2,96,794.33 2,96,794.33
623000 Marketing expense 1,92,865.67 1,92,865.67 1,92,865.67
624000 Festivals & competitions expense 2,38,654.75 2,38,654.75 2,38,654.75
631000 Telephone expense 37,584.73 37,584.73 37,584.73
632000 Internet & computer expense 14,475.00 14,475.00 14,475.00
633000 Postage & shipping expense 35,117.66 35,117.66 35,117.66
641000 Legal & accounting fees 88,425.50 88,425.50 88,425.50
643000 Other consulting fees 12,500.00 12,500.00 12,500.00
651000 Office supplies expense 58,689.68 58,689.68 58,689.68
660000 Data processing expense 9,743.89 9,743.89 9,743.89
670000 Depreciation expense 12,01,199.16 12,01,199.16 12,01,199.16
680000 Travel and entertainment expense 1,69,405.86 1,69,405.86 1,69,405.86
691000 Other insurance expense 1,15,058.55 1,15,058.55 1,15,058.55
692000 Medical insurance 1,92,154.80 1,92,154.80 1,92,154.80
693000 Workmen's compensation insurance 1,39,750.00 1,39,750.00 1,39,750.00
699000 Other employee benefits expense 1,75,643.90 1,75,643.90 1,75,643.90
700000 Dues & subscriptions expense 32,076.00 32,076.00 32,076.00
711000 Federal income tax expense 8,57,595.76 1,48,925.04 10,06,520.80 10,06,520.80
712000 Property tax expense 19,875.00 19,875.00 19,875.00
721000 Repairs and maintenance 71,974.93 71,974.93 71,974.93
731000 Automobile expense 81,493.45 81,493.45 81,493.45
740000 Lease expense 1,13,607.56 1,13,607.56 1,13,607.56
791000 Bad debt expense 10,973.45 10,973.45 10,973.45
792000 Miscellaneous expense 26,665.63 26,665.63 26,665.63
793000 Interest expense 3,59,978.41 3,59,978.41 3,59,978.41
Sub-totals 203,84,669.03 223,38,503.51 574,15,051.52 554,61,217.04
Net Income (Loss) 19,53,834.48 19,53,834.48
TOTALS 525,61,002.98 525,61,002.98 776,39,822.06 776,39,822.06 1,59,898.49 1,59,898.49 777,99,720.55 777,99,720.55 223,38,503.51 223,38,503.51 574,15,051.52 574,15,051.52

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