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Posted on Jul 15, 2024

Prepare an Income Statement and a Balance Sheet in a correct form with 12/31/2022 C D E F G H 1 J L M 2

Prepare an Income Statement and a Balance Sheet in a correct form with 12/31/2022 image text in transcribed

C D E F G H 1 J L M 2 N o P Q R S S a B STOCKHOLDERS' EQUITY Common stock Retained earnings 225,000.00 90.264.99 225,000.00 90,264.99 225,000.00 90,264.99 225,000.00 90,264.99 1,589,666.00 62.181.00 15,405.82 REVENUE AND GROSS PROFIT Sales Sales returns and allowances Sales discounts taken Cost of goods sold Purchases Purchases returns and allowances Purchases discounts taken Freight-in Miscellaneous revenue 62,181.00 15,405.82 1,024,609.94 0.00 1,024.609.94 1,137,130.00 1,137,130.00 1,589,666.00 1,589,666.00 62,181.00 15,405.82 1,024.609.94 0.00 0.00 0.00 0.00 0.00 0.00 825.00 825.00 19,445.00 16,733.90 19,445.00 16,733.90 24,897.84 A 29 30 26000 31 29000 32 33 34 30100 35 30200 36 30300 37 30400 38 30500 39 30600 40 30700 41 30800 42 31200 43 44 45 40100 46 40200 47 40300 48 40400 49 40500 50 40600 51 40700 52 40800 53 40900 54 41000 55 56 24,897.84 0.00 825.00 57,600.00 22,395.00 5,892.55 34,779.31 EXPENSES Rent expense Advertising expense Office supplies expense Depreciation expense Wages and salaries expense Payroll tax expense Federal income tax expense Interest expense Bad debt expense Other operating expense 140,371.63 12,020.83 57,600.00 22,395.00 5,892.55 34,779.31 140,371.63 12,020.83 36,600.07 162.74 7,560.40 33,225.75 57,600.00 22,395.00 5,892.55 34,779.31 140,371.63 12,020.83 36,600.07 162.74 7,560.40 33,225.75 36,600.07 162.74 7,560.40 33,225.75 712,451.93 57 58 Sub-totals Net Income (Loss) TOTALS 1,452,805.04 1,590,491.00 137,685.96 1,241,130.36 2,165,256.97 2,165,256.97 1,590,491.00 1,590,491.00 574,765.97 137,685.96 712,451.93 444,436.19 444,436.19 2,123,482.54 2,123,482.54 1,241,130.36 712,451.93 59 60 61 62 A B G H J 0 P Q R S S C 12/31/2021 POST CLOSING TRIAL BALANCE DEBIT CREDIT E F 12/31/2022 UNADJUSTED TRIAL BALANCE DEBIT CREDIT K L ADJUSTED TRIAL BALANCE M N INCOME STATEMENT ACCOUNT TITLE YEAR-END ADJUSTMENTS BALANCE SHEET ID # DEBIT ID # CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT 11,025.19 11,065.00 110,366.83 45,877.00 110.366.83 45,877.00 3,250.81 7,560.40 110.366.83 45,877.00 1,149.19 101,681.00 24,000.00 329,288.10 6,411.21 6,411.21 ASSETS Cash Accounts receivable Allowance for doubtful accounts Inventory Marketable securities Fixed assets Accumulated depreciation 101,681.00 101,239.00 202,920.00 24,000.00 329,288.10 202,920.00 24,000.00 329,288.10 320,665.00 81,559.50 81,559.50 34,779.31 116,338.81 116,338.81 LIABILITIES Accounts payable Federal income taxes withheld State income taxes withheld State unemployment taxes payable Federal unemployment taxes payable F.I.C.A. taxes payable Federal incomes taxes payable Interest payable Notes payable 11,279.35 878.81 447.95 281.17 83.31 1,593.30 29,797.00 5,736.35 1,161.00 672.20 117.89 19.93 2.280.78 5,736.35 1,161.00 672.20 117.89 19.93 2,280.78 36,600.07 162.74 90,000.00 5,736.35 1,161.00 672.20 117.89 19.93 2,280.78 36,600.07 162.74 90,000.00 36,600.07 162.74 90,000.00 5 ACCT 3 NO. . 7 8 3 0 10100 1 10200 2 10300 3 10400 4 10600 5 10800 6 10900 7 3 9 3 20100 0 20300 1 20400 2 20500 3 20600 -4 20700 -5 20800 C6 21000 -7 21100 8 -9 E0 26000 1 29000 =1 2 3 54 30100 5 30200 6 6 30300 =7 30400 =7 = 8 30500 = 9 30600 -0 30700 -1 30800 -2 31200 -3 4 -5 40100 6 40200 -7 40300 -8 40400 -9 40500 CO 40600 51 40700 2 40800 3 40900 -4 41000 5 EE 6 -7 STOCKHOLDERS' EQUITY Common stock Retained earnings 225,000.00 90,264.99 225,000.00 90,264.99 225,000.00 90,264.99 225,000.00 90,264.99 1,589,666.00 1,589,666.00 1,589,666.00 62,181.00 15,405.82 REVENUE AND GROSS PROFIT Sales Sales returns and allowances Sales discounts taken Cost of goods sold Purchases Purchases returns and allowances Purchases discounts taken Freight-in Miscellaneous revenue 62,181.00 15,405.82 1,024,609.94 0.00 62,181.00 15,405.82 1,024,609.94 0.00 1,024,609.94 1,137,130.00 1,137,130.00 19,445.00 16,733.90 19,445.00 16,733.90 0.00 0.00 0.00 0.00 24,897.84 24.897.84 0.00 0.00 825.00 825.00 825.00 57,600.00 22,395.00 5,892.55 34,779.31 EXPENSES Rent expense Advertising expense Office supplies expense Depreciation expense Wages and salaries expense Payroll tax expense Federal income tax expense Interest expense Bad debt expense Other operating expense 140,371.63 12.020.83 57,600.00 22.395.00 5,892.55 34,779.31 140,371.63 12,020.83 36,600.07 162.74 7,560.40 33,225.75 57,600.00 22.395.00 5,892.55 34,779.31 140,371.63 12,020.83 36,600.07 162.74 7,560.40 33,225.75 36,600.07 162.74 7,560.40 33,225.75 712,451.93 Sub-totals Net Income (Loss) TOTAIS ,452,805.04 1,590,491.00 137,685.96 1241.130 36 2165 256 072165 256 071 con101.001 con101.00 574,765.97 137,685.96 7412451 02 o 141426 10 LA42610 2 122.1995 2 122.1995 124112026 7412451 02 TRANSACTIONS LISTA ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET ACCT NO. ACCOUNT TITLE YEAR-END ADJUSTMENTS 12/31/2021 POST CLOSING TRIAL BALANCE DEBIT CREDIT 12/31/2022 UNADJUSTED TRIAL BALANCE DEBIT CREDIT ID # DEBIT ID # CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT 11,025.19 11,065.00 110.366.83 45,877.00 110,366.83 45,877.00 3.250.81 7,560.40 6,411.21 6,411.21 ASSETS Cash Accounts receivable Allowance for doubtful accounts Inventory Marketable securities Fixed assets Accumulated depreciation 10100 10200 10300 10400 10600 10800 10900 110,366.83 45,877.00 1,149.19 101.681.00 24,000.00 329,288.10 101,681.00 101,239.00 202,920.00 24,000.00 329,288.10 202.920.00 24,000.00 329,288.10 320,665.00 81,559.50 81,559.50 34.779.31 116.338.81 116,338.81 11,279.35 878.81 447.95 281.17 20100 20300 20400 20500 20600 20700 20800 21000 21100 LIABILITIES Accounts payable Federal income taxes withheld State income taxes withheld State unemployment taxes payable Federal unemployment taxes payable F.I.C.A. taxes payable Federal incomes taxes payable Interest payable Notes payable 5,736.35 1,161.00 672.20 117.89 19.93 2.280.78 83.31 5,736.35 1.161.00 672.20 117.89 19.93 2,280.78 36,600.07 162.74 90,000.00 5,736.35 1.161.00 672 20 117.89 19.93 2,280.78 36,600.07 162.74 90,000.00 1,593.30 29,797.00 36,600.07 162.74 90,000.00 26000 29000 STOCKHOLDERS' EQUITY Common stock Retained earnings 225,000.00 90,264.99 225,000.00 90,264.99 225,000.00 90.264.99 225,000.00 90.264.99