Quixote Company Worksheet For year ended June 30, 2016 Income Statement Trial Balance Adjustments Adi. Trial Balance Balance Sheet Debt Credit Debt Credit Debit Credit Debit Credit Debit Credit Cash 23468.75 23,468.75 23,468.75 3500.00 1.250.00 4750.00 4750.00 Accounts Receivable 11,187.50 Merchandise Inventory 5175.00 5175.00 5175.00 Estimated Returns Inventory Store supplies 1,062.50 1,062.50 1,062.50 300.00 75.00 225.00 225.00 Prepaid Insurance 2000.00 2,000.00 2,000.00 Store Equipment Accum. Depreciation 2,137.50 Accounts Payable 3 12.50 312.50 312.50 Salaries Payable 3031.25 3,031.25 303 1.25 Customer Refunds Payable 30,400.00 30,400.00 30,400.00 Larkin. Capital Larkin, Drawing 2,625.00 2,625.00 2,625.00 Sales 34450.00 1,250.00 35700.00 35,700.00 10,000.00 Cost of Merch. Sold 10,000.00 10,000.00 Office Salaries Expense 1,812.50 312.50 2125.00 2,125.00 Sales Salaries Expense 5.000.00 5,000.00 5,000.00 Rent Expense 100.00 18750 287.50 28750 Dep. Exp. store equip Insurance Expense 75.00 75.00 75.00 Delivery Expense 825.00 825.00 825.00 Misc. Selling Expense Misc Admin. Expense 225.00 225.00 225.00 Tota 70,218.75 70,218.75 1,825.00 1.825.00 7 968. 75 71 96 8.75 2 475. 00 35,700.00 50,493.75 36 268.75 14,225.00 14,225.00 Net Income 35,700.00 35,700.00 50,493.75 50,493.75 Tota