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The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $59,775 on January 1, 2019, and

The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $59,775 on January 1, 2019, and $52,725 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses.
 
 Accounts    
401Sales$248,900Cr. 
451Sales Returns and Allowances 4,350Dr. 
491Miscellaneous Income 400Cr. 
501Purchases 103,600Dr. 
502Freight In 1,975Dr. 
503Purchases Returns and Allowances 3,600Cr. 
504Purchases Discounts 1,800Cr. 
611Salaries Expense—Sales 45,300Dr. 
614Store Supplies Expense 2,310Dr. 
617Depreciation Expense—Store Equipment 1,510Dr. 
631Rent Expense 13,500Dr. 
634Utilities Expense 3,000Dr. 
637Salaries Expense—Office 21,100Dr. 
640Payroll Taxes Expense 6,000Dr. 
643Depreciation Expense—Office Equipment 570Dr. 
646Uncollectible Accounts Expense 720Dr. 
691Interest Expense 740Dr. 
 

 

The worksheet of Bridget's Office Supplies contains the following owner’s equity accounts.
 

 Accounts    
301Bridget Swanson, Capital$

63,760

Cr. 
302Bridget Swanson, Drawing 

40,700

Dr. 
 


Net income for the year $42,975.


The worksheet of Bridget's Office Supplies contains the following asset and liability accounts. The balance of the Notes Payableaccount consists of notes that are due within a year.
 

 Accounts    
101Cash$5,605Dr. 
107Change Fund 500Dr. 
111Accounts Receivable 5,140Dr. 
112Allowance for Doubtful Accounts 860Cr. 
121Merchandise Inventory 52,725Dr. 
131Store Supplies 1,100Dr. 
133Prepaid Interest 130Dr. 
141Store Equipment 11,200Dr. 
142Accum. Depreciation—Store Equipment 1,180Cr. 
151Office Equipment 3,400Dr. 
152Accum. Depreciation—Office Equipment 500Cr. 
201Notes Payable 5,500Cr. 
203Accounts Payable 3,725Cr. 
216Interest Payable 110Cr. 
231Sales Tax Payable 1,890Cr. 
 


Prepare a balance sheet dated December 31, 2019.


BRIDGETS OFFICE SUPPLIES Balance Sheet Assets Current Assets Prepaid Expenses Total Current Assets Plant and Equipment Store 

BRIDGET'S OFFICE SUPPLIES Balance Sheet Assets Current Assets Prepaid Expenses Total Current Assets $ Plant and Equipment Store equipment Office equipment Total Plant and Equipment Total Assets $ Liabilities and Owner's Equity Current Liabilities Total Current Liabilities $ Owner's Equity Total Liabilities and Owner's Equity %24

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