The First Picture is the post closing Trial Balance, The second is the opening Trial balance.
Required:
1) Prepare a indirect cash flows statement.
Trial Balance as of: 01/01/2019 30/11/2019 Dr. Cr. Dr. Cr. Cash $ 40.620 $ 249.930 Petty cash 150 150 Accounts receivable 253.643 317,420 Allowance for uncollectibles $ 13,520 $ 4,580 Notes receivable 40,000 45,000 Interest receivable 580 Inventory 450,960 531,960 Office supplies 470 2,320 Prepaid insurance 2,560 11,020 Prepaid rent 3.630 25,410 Bond sinking fund 130.000 145,000 Land 43.000 43,000 Buildings 306,000 306,000 Accumulated depreciation - Buildings 73,040 73,040 Trucks and lifts 78,400 78,400 Accumulated depreciation - Trucks and lifts 39.540 39,540 Furniture and equipment 32,800 32,800 Accumulated depreciation - Furniture and equipment 13,200 13,200 Notes payable 15,000 15,000 Accounts payable 86,352 126,850 Salaries and wages payable 1.906 FICA Taxes payable 781 1,787 Federal withholding taxes payable 5,148 9,573 State withholding taxes payable 1.595 2.486 Federal unemployment taxes payable 216 400 State unemployment taxes payable 1,323 2,600 Dividends payable 23,100 Interest payable 15,165 Income taxes payable 15,789 Mortgage notes payable 43,000 113,000 Bonds payable (issued March 1, 2013) 275,000 275,000 Discount on bonds payable 4,400 4,400 Common stock (6,300 shares, stated value $30) 189,000 189,000 Additional paid-in capital 256,400 256,400 Retained earnings 362,748 362,748 Treasury stock 44,610 44,610 Sales 5,234,940 Sales returns and allowances 9,380 Sales discounts 73,044 Cost of goods sold 3,648,722 Advertising expense 6,578 Sales salaries and commissions 132,990 Delivery and warehouse wages 110,616 Payroll taxes expense-Selling, delivery, and warehouse 15.915 Delivery expense 17,732 Office and administrative salaries 689,516 Office expenses 1,540 Payroll taxes expense-Office and administration 67,001 Utilities expense 16,270 Income tax expense 72,000 Interest expense 24,570 Interest Revenue 3,150 Total $ 1,431,823 $ 1,431,823 $ 6,723,294 $ 6,723,294Account Title Debit Credit Cash 3 264,343 Petty Cash 225 Accounts Receivable 266,280 Allowance for Doubtful Accounts _ S 111,299 Notes Receivable 104,200 Interest Receivable 1,800 Inventory 461,031 Supplies 830 Prepaid Insurance 5,640 Prepaid Rent Bond Sinking Funds 160,000 Land 99,650 Building 306,000 Accu. Depreciation Building _ 91,520 Truck and lifts 20,500 Accu. Depreciation Trucks and lifts _ 42,891 Equipment 38,900 Accu. Depreciation Equipment _ 18,210 Notes Payable 15,000 Accounts Payable _ 121,549 Salaries and Wages Payable 3,921 FICA Taxes Payable _ 5,520 FederalWithholdingTaxes Payable 10,199 State Withholding Taxes Payable _ 4,636 Federal unemploymenttaxes payable 400 State unemploymenttaxes payable _ 2,600 Dividends Payable 14,310 Income taxes payable _ 22,129 Mortgage notes payable 113,000 Bonds Payable _ 225,000 Discounts on Bonds Payable 4,400 Interest Payable _ 4,090 Common Stock - $30 Stated Value 202,000 Paidin Capital _ 292,400 Retained Earnings 512,835 Treasury Stock 122,610 Totals 5 1,929, 559 5 1,929, 559
