Palisade Creek Co. End-of-Period Spreadsheet (Work Sheet) For the Year Ended May 31, 2016 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Account Title Debit Credit Debit Credit Debit Credit Debit Cash 84,500 245,875 84,500 245,875 Accounts Receivable Inventory 583,950 13,950 570,000 15,200 35,000 50,200 Estimated Returns Inventory Prepaid Insurance 16,800 12,000 4,800 Store Supplies 13,800 9,800 4,000 re Equipment 569,500 569,500 Accum. Depr.-Store Equip. 56,700 14,000 70,700 Accounts Payable 63,150 63,150 Salaries Payable 13,600 13,600 Customers Refunds Payable 29,270 60,000 89,270 Common Stock 100,000 100,000 585,300 Retained Earnings 585,300 Dividends 135,000 135,000 Sales 5,376,205 60,000 5,316,205 5,316,205 Cost of Goods Sold 13,950 35,000 2,991,950 Sales Salaries Expense 3,013,000 720,800 292,000 7,000 727,800 Advertising Expense 292,000 nce edit End-of-Period Spreadsheet (Work Sheet) For the Year Ended May 31, 2016 Adjustments Adjusted Trial Balance Debit Credit Debit Credit 84,500 245,875 Income Statement Debit Credit Balance Sheet Debit Credit ] 13,950 570,000 35,000 50,200 12,000 4,800 9,800 4,000 569,500 6,700 14,000 70,700 63,150 3,150 13,600 13,600 9,270 60,000 89,270 100,000 0,000 5,300 585,300 135,000 6,205 60,000 5,316, 205 5,316,205 35,000 2,991.950 2,991,950 13,950 7,000 727,800 Accounting numeric field 727,800 292,000 292,000 Accum. Depr.-Store Equip. 56,700 14,000 70,700 Accounts Payable 63,150 63,150 Salaries Payable 13,600 13,600 Customers Refunds Payable 29,270 60,000 89,270 Common Stock 100,000 100,000 Retained Earnings 585,300 585,300 Dividends 135,000 135,000 Sales 5,376,205 5,316,205 5,316,205 60,000 13,950 Cost of Goods Sold 35,000 2,991,950 Sales Salaries Expense 3,013,000 720,800 292,000 7,000 727,800 292,000 14,000 14,000 dvertising Expense Depreciation Expense Store Supplies Expense Miscellaneous Selling Expense 9,800 9,800 12,600 12,600 417,700 Office Salaries Expense 411,100 6,600 Rent Expense 88,700 Insurance Expense 12,000 88,700 12,000 7,800 Miscellaneous Admin. Expense 7,800 6,210,625 6,210,625 158,350 158,350 6,238,225 6,238,225 5,316,205 Net Income Accounting numeric field -6,700 14,000 | 70,700 | 3.150 63.150 13,600 13,600 || 60,000 89,270| 19270 o,000 5,300 100,000 | | 585,300 135,000 | 16,205 | 60,000 5,316,205 | 5-316,205 35,000 || 2,991,950 || 2,991,950 | 13,950 7,000 | 727, 800 727,800 292,000 || 292,000 14,000 | 14,000 14,000 9,800 9,800 9,800 12,600 12,600 6,600 417,700 417700 88,700 12,000 12,000 || | 88,700 12,000 7,800 | 4,574,350 7,800 || 10,625 158,350 158.350 | 6.238,2251 6.238,225 | 5.316,205 | 1,528,875 1,528,875 741,855 Palisade Creek Co. End-of-Period Spreadsheet (Work Sheet) For the Year Ended May 31, 2016 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Account Title Debit Credit Debit Credit Debit Credit Debit Cash 84,500 245,875 84,500 245,875 Accounts Receivable Inventory 583,950 13,950 570,000 15,200 35,000 50,200 Estimated Returns Inventory Prepaid Insurance 16,800 12,000 4,800 Store Supplies 13,800 9,800 4,000 re Equipment 569,500 569,500 Accum. Depr.-Store Equip. 56,700 14,000 70,700 Accounts Payable 63,150 63,150 Salaries Payable 13,600 13,600 Customers Refunds Payable 29,270 60,000 89,270 Common Stock 100,000 100,000 585,300 Retained Earnings 585,300 Dividends 135,000 135,000 Sales 5,376,205 60,000 5,316,205 5,316,205 Cost of Goods Sold 13,950 35,000 2,991,950 Sales Salaries Expense 3,013,000 720,800 292,000 7,000 727,800 Advertising Expense 292,000 nce edit End-of-Period Spreadsheet (Work Sheet) For the Year Ended May 31, 2016 Adjustments Adjusted Trial Balance Debit Credit Debit Credit 84,500 245,875 Income Statement Debit Credit Balance Sheet Debit Credit ] 13,950 570,000 35,000 50,200 12,000 4,800 9,800 4,000 569,500 6,700 14,000 70,700 63,150 3,150 13,600 13,600 9,270 60,000 89,270 100,000 0,000 5,300 585,300 135,000 6,205 60,000 5,316, 205 5,316,205 35,000 2,991.950 2,991,950 13,950 7,000 727,800 Accounting numeric field 727,800 292,000 292,000 Accum. Depr.-Store Equip. 56,700 14,000 70,700 Accounts Payable 63,150 63,150 Salaries Payable 13,600 13,600 Customers Refunds Payable 29,270 60,000 89,270 Common Stock 100,000 100,000 Retained Earnings 585,300 585,300 Dividends 135,000 135,000 Sales 5,376,205 5,316,205 5,316,205 60,000 13,950 Cost of Goods Sold 35,000 2,991,950 Sales Salaries Expense 3,013,000 720,800 292,000 7,000 727,800 292,000 14,000 14,000 dvertising Expense Depreciation Expense Store Supplies Expense Miscellaneous Selling Expense 9,800 9,800 12,600 12,600 417,700 Office Salaries Expense 411,100 6,600 Rent Expense 88,700 Insurance Expense 12,000 88,700 12,000 7,800 Miscellaneous Admin. Expense 7,800 6,210,625 6,210,625 158,350 158,350 6,238,225 6,238,225 5,316,205 Net Income Accounting numeric field -6,700 14,000 | 70,700 | 3.150 63.150 13,600 13,600 || 60,000 89,270| 19270 o,000 5,300 100,000 | | 585,300 135,000 | 16,205 | 60,000 5,316,205 | 5-316,205 35,000 || 2,991,950 || 2,991,950 | 13,950 7,000 | 727, 800 727,800 292,000 || 292,000 14,000 | 14,000 14,000 9,800 9,800 9,800 12,600 12,600 6,600 417,700 417700 88,700 12,000 12,000 || | 88,700 12,000 7,800 | 4,574,350 7,800 || 10,625 158,350 158.350 | 6.238,2251 6.238,225 | 5.316,205 | 1,528,875 1,528,875 741,855