QUESTION 13

1. Account Name	_Debit_	_Credit_
   Accounts Payable		26,000
   Accounts Receivable	28,850
   Cash	10,000
   Common Stock		12,500
   Cost of Goods Sold	68,000
   Equipment	73,000
   Interest Expense	150
   Interest Payable		500
   Inventory	45,000
   Note Payable		21,000
   Retained Earnings		53,000
   Sales Revenue		179,000
   Supplies Expense	7,000
   Wages Expense	60,000
   Total	292,000	292,000

   Thisis Green Co.'s Pre-Closing Trial Balance as of December 31, 2011. Green's accounting period is month, thus the balances in the temporary accounts are for the month of December 2011. Note: The accounts are not listed in their normal sequence -- rather they are listed inalphabetical sequence.

   Question:Based on Green's account balances, the amount of Net Income that would be shown on the Income Statement for December 2011 would be:

   Show your calculations here:

QUESTION 13 1. 4. 5. 6. 7. 8. 9. 10. _Debit_ Account Name Accounts Payable Accounts Receivable Cash Common Stock Cost of Goods Sold Equipment Interest Expense Interest Payable Inventory Note Payable Retained Earnings Sales Revenue Supplies Expense Wages Expense _Credit_ 26,000 28,850 10,000 2. 3. 12,500 68,000 73,000 150 500 45,000 21,000 53,000 179,000 7,000 60,000 292,000 This is Green Co.'s PreClosing Trial Balance as of December 31, 2011. Green's accounting period is month, thus the balances in the temporary accounts are for the month of December 2011. Note: The accounts are not listed in their normal sequence -- rather they are listed in alphabetical sequence. 11. Question: Based on Green's account balances, the amount of Net Income that would be shown on the Income Statement for December 2011 would be: 12. Total Show your calculations here: 292,000