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textbook for guidance). 2. Statement of Retained Earnings for the month of January 2018 (see page 479/480 in your textbook for guidance). Note: There are no prior period adjustments and all dividends declared are cash dividends in the amount of $31,060. Comnarative Balance Sheet for the months of December 2017 and January 2018 (See page Prepared Adjusted THB Ince January 21, 2018 Credits 16 5 587 ERTATS 23OTO 460.00 60.00 10,000.00 5,190.00 10,000.00 300.00 2,800.00 414,250.00 400,000.00 45,750.00 90,000.00 17,500.00 125,000.00 15,800.00 69,300.00 25,000.00 7.500.00 478.00 200,000.00 800,000.00 23,900.00 Account ID Account Description Wash 1021 Accounts Receivable 1022 Allowance for Doubtful Accounts 1027 Interest Receivable 1031 Notes Receivable 1051 Merchandise Inventory 1101 Store Supplies 1111 Office Supplies 1125 Prepaid Insurance 1401 Land 1411 Building 1412 Accum Dep: Building 1431 Office Equipment 1432 Accum Dep: Office Equipment 1451 Store Equipment 1652 Accum Dep: Store Equipment 1501 Patents 2001 Accounts Payable 2005 Income Taxes Payable 2031 Interest Payable 2101 Notes Payable Long Term 2301 Bonds Payable 2303 Discount on Bonds Payable 3001 Preferred Stock 3011 Common Stock 3101 Paidin Capital in Excess of Par: Proffered 3111 Paid in Capital in Excess of Par: Common 3121 Paldin Capital Treasury Stock 3300 Retained Eaming 3351 Treasury Stock 4001 Sales Revenue 4002 Sales Discount 4003 Sales Returns and Allowances 4101 Interest Revenue 5001 Cost of Goods Sold 5010 Insurance Expense-General -5012 Repairs Expense: Office 5015 Depreciation Expense: Building General 5020 Depreciation Expense: Office Equipment 5025 Supplies Expense-Selling 5027 Utilities Expense: Office 5030 office Salaries Expense 5035 Office Payroll Tax Expense 6005 Depreciation Expense: Store Equipment 6010 Amortization Expense:Patents - General 6015 Sales Salaries Expense 6020 Sales Payroll Tax Expense 5022 Utilities Expense Store 5025 Delivery Expense-General 6030 Repairs Expense Store 6040 Bad Debts Expense selling 7001 Interest Expense 400.000.00 105,000.00 15.000.00 166,250.00 72,000.00 53.940.00 32,000.00 139,000.00 800 00 3.000.00 50.00 84.560.00 200.00 2.500.00 750.00 2,500.00 1,200.00 1,500.00 15,000.00 1,200.00 800.00 700.00 10,000.00 800.00 1,100.00 1.000.00 800.00 460.00 5.878.00 2.068,038.00 2,068,038,00 Be Prepared Adjusted Trial Balance December 31, 2017 $ $ 25,000 7,500 200,000 232.500 Assets Cash Accounts Receivable Merchandise Inventory Office Supplies Prepaid insurance Land Building Accum Dep: Building Office Equipment Accum Dep: Office Equipment Store Equipment Accum Dep: Store Equipment Patents Total Assets Liabilities 27.500 Accounts Payable 40,000 Income Taxes Payable 50,000 Mortgage Payable 1,500 Total Liabilities 3.000 64,250 400,000 Stockholders' Equity (45,000) Preferred Stock 90,000 Common Stock (15,000) Paldin Capital in Excess of Par: Proffered 75,000 Pald in Capital in Excess of Par: Common (15,000) Retained Earnings 70,000 Total Stockholders' Equity 746,250 $ 250,000 100,000 7,500 21,250 85,000 513,750 746, 250 S 6 Amount (in $) $ 139,000.00 $ (3,800.00) $ (84,560.00) $ 50,640.00 B D E Be Prepared Multi-step Income Statement Jan-18 Particulars Amount (in) Sales Revenue 6 Less: Sales Discount $ (800.00) 7. Less: Sales Returns and allowances $ (3,000.00) 8 Cost of Good Sold 9 Gross Profit 10 Less: Administrative & General Expenses 11 Insurance Expenses - General $ (200.00) 12 Repairs Expense - Office $ (2,500.00) 13 Supplies Expense - Selling $ (1,200.00) 14 Utilities Expense - Office $ (1.500.00) 15 Utilities Expense - Store $ (1,100.00) 16 Office Salary Expense S(15,000.00) 17 Sales Salaries Expense $(10,000.00) 18 Delivery Expense - General S (1.000.00) 19 Repairs Expense - Store S (800.00) 20 Bad Debt Expense - Selling S (460.00) 21 Net project before Interest, Tax and Depreciation 22 Less: Other Expense 23 Interest Expense 24 Add: Other revenues & income 25 Interest Revenue 26 Net profit before Tax and Depreciation 127 Less: Depreciation 28 Depreciation expense - Building - General 5 (750.00) 29 Depreciation expense - Office Equipment $ 2,500.00) 30 Depreciation expense - Store Equipment 5 (800.00) 31 Amortization expense - Patents - General $ (700.00) 32 Net Profit before Tax 33 Less: Tax Expense 34 Office Payroll Tax Expense $ 1.200.00) 35 Sales Payroll Tax Expense $ (800.00) 36 Net profit after Interest, Tax and Depreciation 37 38 $ 133,760.00) $ 16,880.00 $(5,878.00) 5 60.00 $ 11,062.00 $4,750.00) $ 6,312.00 $ 12,000.00) S 4,312.00