Provide a trial Balance for Dec 31, 2020 by starting with the Trial Balance for Oct 1, 2020 and posting the journal entries to the accounts for Q4 2020. The Excel template attached will assist you with completing your Trial Balance and journal entries. Further information can be found in the attached instructions document.

MASTER BUDGET PROJECT: TRIAL BALANCE TEMPLATE
ACCT 5362 | Accounting Principles
Husky Co.
Trial Balance
Oct. 1 2020
		Debit	Credit
ASSETS:
Cash		200,000
Savings Account		-
Accounts Receivable		-
Inventory		-
Fixed Assets - Mfg.		2,400,000
Fixed Assets - SG&A		200,000
Accum Depreciation - Mfg.
Accum Depreciation - SG&A
LIABILITIES:
Accounts Payable			-
Loans Payable			-
Income Tax Payable (Benefit)			-
OWNERS' EQUITY:
Capital Stock			300,000
Additional Paid in Capital			2,500,000
Retained Earnings			-
REVENUES:
Sales
EXPENSES:
Cost of Goods Sold
Selling, General & Administrative
Interest Expense
Income Tax Expense
Totals		2,800,000	2,800,000
During the 4th Quarter of 2020, the following entries were recorded in a general journal to be posted to the accounts:
		Debit	Credit
Cash		$210,000
Accounts Receivable		$210,000
Sales			$420,000
SG&A Exp		$108,200
Cash			$97,133
Accts Payable			$6,067
Accum Depn-SG&A			$5,000
Inventory		$412,436
Cash			$304,958
Accts Payable			$47,478
Accum Depn-Mfg			$60,000
COGS		$290,509
Inventory			$290,509
Income Tax Expense		$6,387
Income Tax Payable		$6,387
Savings		$2,000
Cash			$2,000
Post the entries to produce the post-closing trial balance. (Note: the ending balance sheet for one year is the beginning balance sheet for the following year.)
The above entries produced the following post-closing trial balance:
Husky Co.
Trial Balance
Dec. 31 2020
		Debit	Credit
Cash
Savings Account
Accounts Receivable
Inventory
Fixed Assets-Mfg
Fixed Assets-SG&A
Accum Depreciation-Mfg
Accum Depreciation-SG&A
Accounts Payable
Loans Payable
Income Tax Payable (Benefit)
Capital Stock
Additional Paid in Capital
Retained Earnings
Totals		2,939,836