Trial Balance and Adjustments

Accounts General Ledger

Number Title Debit Credit

$100$ Cash $475,808,990-$

$110$ Accounts Receivable $49,293,000-$

$115$ Allowance for Bad Debts $1,487,000$

$120$ Inventory $14,434,000$

$130$ Notes Receivable $200,000$

$135$ Accumulated Depreciation $74,940,000$

$140$ Equipment $55,840,280$

$160$ Buildings $31,000,000-$

$170$ Land $22,691,600-$

$180$ Patents $170,000-$

$185$ Accumulated Amortization $-53,000$

$190$ Interest Receivable $3,000-$

$195$ Prepaid Insurance Expense $3,330-$

$200$ Accounts Payable $-70,050,000$

$205$ Unearned Rent Revenue $63,000$

$300$ Common Stock $-120,010,460$

$305$ APIC $-$ Common Stock $-267,640,160$

$340$ Retained Earnings $-74,230,000$

$400$ Sales Revenue $-65,421,000$

$410$ Interest Revenue $-3,000$

$405$ Rent Revenue $31,500$

$415$ Loss on Sale of Equipment $7,000$

$500$ Cost of Goods Sold $19,600,000-$

$510$ Depreciation Expense $2,556,000-$

$518$ Amortization Expense $3,000-$

$520$ Bad Debt Expense $250,000-$

$540$ Salaries Expense $43,750-$

$560$ Insurance Expense $16,670-$

$599$ Income Tax Expense $2,000,000-$

$600$ Dividends $8,000-$

Total $673,928,620673,929,120$

Fill in this income statement based on the adjusted trial balance

Pane in the Glass Company

Income Statement

For Year Ended December $31,2023$

Sales Revenue $$65,421,000$

Cost of Goods Sold $3,300$

Gross Profit

Operating Expenses

Total Operating Expenses

Operating Income

Other Items

Income Before Tax

Net Income