The following is a list of the accounts and balances taken from the adjusted trial balance at December 31 2021 for Meilleur Merchants. Meilleur uses a perpetual inventory system and the earnings approach for revenue recognition. The list of accounts is in alphabetical order. All accounts have normal balances.

Income Statement December 31, 2021For the Month Ended December 31, 2021For the Year Ended December 31, 2021

Sales DiscountsNet SalesFreight-out ExpenseSalesInterest RevenueInterest ExpenseSales Returns and AllowancesSalaries ExpenseCost of Goods Sold

$

AddLess:

Net SalesSalesFreight-out ExpenseCost of Goods SoldSales DiscountsInterest RevenueSalaries ExpenseSales Returns and AllowancesInterest Expense

$

SalesCost of Goods SoldNet SalesInterest ExpenseFreight-out ExpenseSales DiscountsSalaries ExpenseSales Returns and AllowancesInterest Revenue

Sales DiscountsInterest ExpenseSalaries ExpenseSalesFreight-out ExpenseInterest RevenueCost of Goods SoldSales Returns and AllowancesNet Sales

Sales DiscountsSales Returns and AllowancesSalaries ExpenseInterest RevenueNet SalesCost of Goods SoldSalesInterest ExpenseFreight-out Expense

Total Other RevenuesOther ExpensesDrawingsCapital, December 31, 2021Net Profit / (Loss)InvestmentsOther RevenuesOperating ExpensesTotal Operating ExpensesProfit from OperationsGross Profit / (Loss)Net Non-operating RevenuesCapital, January 1, 2021

Other RevenuesNet Non-operating RevenuesTotal Other RevenuesTotal Operating ExpensesInvestmentsProfit from OperationsOther ExpensesNet Profit / (Loss)DrawingsCapital, December 31, 2021Gross Profit / (Loss)Operating ExpensesCapital, January 1, 2021

Depreciation ExpenseInterest RevenueInsurance ExpenseFreight-out ExpenseAdvertising ExpenseSalaries ExpenseUtilities ExpenseProperty Tax ExpenseInterest Expense

Advertising ExpenseSalaries ExpenseInterest RevenueProperty Tax ExpenseInsurance ExpenseUtilities ExpenseInterest ExpenseFreight-out ExpenseDepreciation Expense

Interest RevenueAdvertising ExpenseInterest ExpenseInsurance ExpenseFreight-out ExpenseDepreciation ExpenseUtilities ExpenseSalaries ExpenseProperty Tax Expense

Salaries ExpenseInterest ExpenseInterest RevenueFreight-out ExpenseInsurance ExpenseUtilities ExpenseAdvertising ExpenseDepreciation ExpenseProperty Tax Expense

Interest ExpenseAdvertising ExpenseInsurance ExpenseProperty Tax ExpenseFreight-out ExpenseSalaries ExpenseDepreciation ExpenseInterest RevenueUtilities Expense

Advertising ExpenseInterest RevenueProperty Tax ExpenseUtilities ExpenseFreight-out ExpenseInterest ExpenseDepreciation ExpenseSalaries ExpenseInsurance Expense

Salaries ExpenseProperty Tax ExpenseInterest ExpenseDepreciation ExpenseAdvertising ExpenseUtilities ExpenseFreight-out ExpenseInterest RevenueInsurance Expense

Other RevenuesNet Non-operating RevenuesOperating ExpensesOther ExpensesTotal Operating ExpensesProfit from OperationsGross Profit / (Loss)DrawingsInvestmentsNet Profit / (Loss)Total Other RevenuesCapital, January 1, 2021Capital, December 31, 2021

Net Non-operating RevenuesTotal Operating ExpensesNet Profit / (Loss)Total Other RevenuesProfit from OperationsOperating ExpensesCapital, January 1, 2021Other ExpensesCapital, December 31, 2021DrawingsGross Profit / (Loss)InvestmentsOther Revenues

Capital, December 31, 2021InvestmentsNet Non-operating RevenuesTotal Operating ExpensesOperating ExpensesTotal Other RevenuesOther RevenuesDrawingsOther ExpensesProfit from OperationsGross Profit / (Loss)Capital, January 1, 2021Net Profit / (Loss)

Cost of Goods SoldSalesInterest RevenueSales DiscountsAdvertising ExpenseInterest ExpenseRent RevenueSalaries ExpenseDepreciation Expense

$

Salaries ExpenseSales DiscountsDepreciation ExpenseCost of Goods SoldRent RevenueInterest ExpenseAdvertising ExpenseSalesInterest Revenue

Net Profit / (Loss)Gross Profit / (Loss)Capital, December 31, 2021Total Operating ExpensesNet Non-operating RevenuesTotal Other RevenuesInvestmentsOperating ExpensesDrawingsOther ExpensesCapital, January 1, 2021Profit from OperationsOther Revenues

Salaries ExpenseDepreciation ExpenseAdvertising ExpenseSales DiscountsSalesInterest RevenueInterest ExpenseCost of Goods SoldRent Revenue

Profit from OperationsGross Profit / (Loss)Other RevenuesOperating ExpensesCapital, January 1, 2021Other ExpensesCapital, December 31, 2021Total Operating ExpensesNet Non-operating RevenuesInvestmentsNet Profit / (Loss)Total Other RevenuesDrawings

Total Other RevenuesNet Non-operating RevenuesGross Profit / (Loss)Other RevenuesOperating ExpensesCapital, December 31, 2021Profit from OperationsNet Profit / (Loss)DrawingsCapital, January 1, 2021InvestmentsOther ExpensesTotal Operating Expenses

$

Account Balance Dec 31 $15.000 1 2 30,000 3 15.500 4 10,000 Accounts payable Accounts receivable Accumulated depreciation-building Accumulated depreciation-equipment Advertising expense Building S. Meilleur, capital S. Meilleur, drawings E 5 4,200 6 84,600 7 75.000 8 28,300 9 Cash 4.500 10 235,400 11 5.800 12 24.500 13 Cost of goods sold Depreciation expense Equipment Freight out Insurance expense Interest expense Interest revenue 640 14 1,350 15 2.220 16 1.240 17 Land 12.000 18 105.000 19 57,600 20 2.100 Merchandise inventory Mortgage payable Prepaid insurance Property tax expense Property taxes payable Rent revenue 21 1.100 22 600 23 1,600 24 Salaries expense 41,900 25 Salaries payable 650 26 Sales 422,200 27 15.400 28 Sales discounts Sales returns and allowances Uneamed revenue 17.700 29 23.000 30 Utilities expense 1.800