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PROBLEM #1 OUTDOORS, INC. Adjusted Trial Balance December 31, 2019 Debit($) Credit($). Cash 12,400 Accounts receivable 18,600 Supplies 4,200 Prepaid Insurance 2.930 Office Equipment 70,000
PROBLEM #1 OUTDOORS, INC. Adjusted Trial Balance December 31, 2019 Debit($) Credit($). Cash 12,400 Accounts receivable 18,600 Supplies 4,200 Prepaid Insurance 2.930 Office Equipment 70,000 Accumulated depreciation 13,000 Building 80,000 Accumulated depreciation 20,000 Land 60,000 Bonds Payable 120,000 Accounts payable 17,100 Unearned subscription revenue 15,000 Salaried Payable 3,500 Common Stock 35,000 Retained Earnings 21,400 Subscription Revenue 195,700 Advertising Revenue 39,300 Salaries Expense 125,410 Printing and mailing expense 80,800 Rent Expense 9,100 Supplies Expense 6,600 Insurance Expense 1,860 Depreciation Expense 5,600 Interest Expense 2,500 Totals $480,000 $480,000 INSTRUCTIONS: Make an income statement, statement of retained earnings and a balance sheet. Your answer should also include the following financial ratios: A) Profit Margin B) Current Ratio C) Working Capital D) Assets Turnover E) Fixed Assets Turnover F) A/R Turnover G) Debt Ratio
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