The trial balance for Cozy Fireplaces Inc. for December 31, 2020, follows: Debit Credit balances balances...
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The trial balance for Cozy Fireplaces Inc. for December 31, 2020, follows: Debit Credit balances balances Cash $89,700 Accounts receivable 38,300 Inventory 95.200 Supplies 5,100 Prepaid rent 46,600 Land 79.600 Building 150,000 Accumulated depreciation, building $19,500 Accounts payable Wages payable 21,600 0 Interest payable Income tax payable Unearned revenue Bank loan payable Common shares 0 0 12.400 40,000 151,000 Retained earnings 17,600 Sales revenue 836,000 Cost of goods sold 477,900 Wages expense 95.900 Rent expense 0 Supplies expense 0 Depreciation expense 0 Interest expense 0 Miscellaneous expenses 13,800 Income tax expense 0 Dividends declared 6,000 Totals $1.098.100 $1,098,100 The trial balance for Cozy Fireplaces Inc. for December 31, 2020, follows: Debit Credit balances balances Cash $89,700 Accounts receivable 38,300 Inventory 95.200 Supplies 5,100 Prepaid rent 46,600 Land 79.600 Building 150,000 Accumulated depreciation, building $19,500 Accounts payable Wages payable 21,600 0 Interest payable Income tax payable Unearned revenue Bank loan payable Common shares 0 0 12.400 40,000 151,000 Retained earnings 17,600 Sales revenue 836,000 Cost of goods sold 477,900 Wages expense 95.900 Rent expense 0 Supplies expense 0 Depreciation expense 0 Interest expense 0 Miscellaneous expenses 13,800 Income tax expense 0 Dividends declared 6,000 Totals $1.098.100 $1,098,100
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