Using the data from the End of Period Worksheet, create a Balance Sheet

Account Balances as of December 31st Debit Balance Credit Balance $252,518 Bank Account 100000 Accounts Receivable (Direct Posting Account) 110100 108,420 110150 Allowance for Bad Debts 2,500 110200 Interest Receivable 200600 Inventory-Operating Supplies 200900 nventory-Raw Materials (Direct Post) 200910 nventory-Finished Goods (Direct Post) 200920 nventory-Trading Goods (Direct Post) 200930 nventory-Semi-finished Goods (Direct Post) 210000 Prepaid Insurance 211000 Prepaid Supplies 212000 Prepaid Advertising 215000 Prepaid Rent 216000 Deposits 750 32,000 281,298 66,474 5,000 1,000 Notes Receivable 220000 Land (Direct Post) Production Machinery, Equip & Fixtures Accumulated Depreciation-Machinery (Direct Post) 220110 425,000 915,000 220210 220310 305,000 220400 Office Furniture Accumulated Depreciation-Office Furniture Office Equip and Computers Accumulated Depreciation- Office Equipment 220500 220600 220700 300100 Payables-Income Taxes Accounts Payable (Direct Posting Account) 47,900 300200 300300 Payables-Interest 300400 Payables-Short-Term Notes 300500 Payables-Long-Term Notes 300600 Payables-Commissions 300700 Payables-Salaries and Wages Accrued Expense 110,000 300800 988 Goods Receipt / Invoice Receipt Account 310000 Accrued Tax -Output Accrued Tax- Input 320000 3,063 321000 Unearned Revenues 322000 Common Stock 1,000,000 329000 Additional Paid-in-Capital 329100 Retained Earnings (Direct Posting) 330010 618,009 $2,087,460 $2,087,460 Balance Sheet and Owner's Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Num Account Title Equity Dr Cr Dr Cr Dr Dr Cr Dr Cr 100000 Bank Account 125,972 125,972 521,436 125,972 110100 Accounts Receivable (Direct Posting Account) 521,436 521,436 110150 Allowance for Bad Debts 890 2,717 3,607 3,607 200600 Inventory-Operating Supplies 1,100 169,598 15,179 480 620 620 200900 Inventory-Raw Materials (Direct Post) 200910 Inventory-Finished Goods (Direct Post) 200920 Inventory-Trading Goods (Direct Post) 169,598 169,598 15,179 15,179 40,812 102 40,710 40,710 210000 Prepaid Insurance 212000 Prepaid Advertising 5,000 15,000 2,500 2,500 15,000 2,500 15,000 215000 Prepaid Rent 216000 Deposits on Purchases 220110 Land (Direct Post) 220210 Production Machinery, Equip & Fixtures(Direct. Post) 220310 Accumulated Depreciation-Machinery (Direct Post) 300200 Accounts Payable (Direct Posting Account) 300700 Payables-Salaries and Wages 300800 Accrued Expenses 320000 Accrued Tax-Output 0 425,000 922,195 4,500 0 0 0 425,000 425,000 922,195 922,195 305,000 100,220 310,083 5,083 310,083 100,220 100,220 0 110,000 110,000 110,000 1,046 1,046 0 1,046 201 201 201 329000 Common Stock 1,000,000 1,000,000 618,009 1,000,000 330010 Retained Earnings (Direct Posting) 600000 Sales Revenue 610000 Sales Discount 618,009 618,009 570,685 570,685 570,685 440 440 440 700000 Labor 0 110,000 110,000 110,000 740000 Supplies Expense 740300 Rent Expense 740400 Insurance Expense 480 0 480 480 4,500 0 4,500 4,500 2,500 0 2,500 2,717 1,046 2,500 741200 Bad Debt Expense 741500 Utilities (electricity & phone) 741800 Depreciation Expense 741900 Advertising Expense 780000 Cost of Goods Sold 2,717 0 2,717 0 1,046 1,046 5,083 0 5,083 5,083 1,000 1,000 1,000 347,875 347,875 347,773 102 2,590,505 2,595,005 126,428 2,713,851 2,713,851 126,428 475,641 95,044 570,685 2,238,210 2,143,166 95,044 Net Income/Loss Totals 2,590,505 2,595,005 126,428 2,713,851 2,713,851 126,428 570,685 570,685 2,238,210 2,238,210 Account Balances as of December 31st Debit Balance Credit Balance $252,518 Bank Account 100000 Accounts Receivable (Direct Posting Account) 110100 108,420 110150 Allowance for Bad Debts 2,500 110200 Interest Receivable 200600 Inventory-Operating Supplies 200900 nventory-Raw Materials (Direct Post) 200910 nventory-Finished Goods (Direct Post) 200920 nventory-Trading Goods (Direct Post) 200930 nventory-Semi-finished Goods (Direct Post) 210000 Prepaid Insurance 211000 Prepaid Supplies 212000 Prepaid Advertising 215000 Prepaid Rent 216000 Deposits 750 32,000 281,298 66,474 5,000 1,000 Notes Receivable 220000 Land (Direct Post) Production Machinery, Equip & Fixtures Accumulated Depreciation-Machinery (Direct Post) 220110 425,000 915,000 220210 220310 305,000 220400 Office Furniture Accumulated Depreciation-Office Furniture Office Equip and Computers Accumulated Depreciation- Office Equipment 220500 220600 220700 300100 Payables-Income Taxes Accounts Payable (Direct Posting Account) 47,900 300200 300300 Payables-Interest 300400 Payables-Short-Term Notes 300500 Payables-Long-Term Notes 300600 Payables-Commissions 300700 Payables-Salaries and Wages Accrued Expense 110,000 300800 988 Goods Receipt / Invoice Receipt Account 310000 Accrued Tax -Output Accrued Tax- Input 320000 3,063 321000 Unearned Revenues 322000 Common Stock 1,000,000 329000 Additional Paid-in-Capital 329100 Retained Earnings (Direct Posting) 330010 618,009 $2,087,460 $2,087,460 Balance Sheet and Owner's Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Num Account Title Equity Dr Cr Dr Cr Dr Dr Cr Dr Cr 100000 Bank Account 125,972 125,972 521,436 125,972 110100 Accounts Receivable (Direct Posting Account) 521,436 521,436 110150 Allowance for Bad Debts 890 2,717 3,607 3,607 200600 Inventory-Operating Supplies 1,100 169,598 15,179 480 620 620 200900 Inventory-Raw Materials (Direct Post) 200910 Inventory-Finished Goods (Direct Post) 200920 Inventory-Trading Goods (Direct Post) 169,598 169,598 15,179 15,179 40,812 102 40,710 40,710 210000 Prepaid Insurance 212000 Prepaid Advertising 5,000 15,000 2,500 2,500 15,000 2,500 15,000 215000 Prepaid Rent 216000 Deposits on Purchases 220110 Land (Direct Post) 220210 Production Machinery, Equip & Fixtures(Direct. Post) 220310 Accumulated Depreciation-Machinery (Direct Post) 300200 Accounts Payable (Direct Posting Account) 300700 Payables-Salaries and Wages 300800 Accrued Expenses 320000 Accrued Tax-Output 0 425,000 922,195 4,500 0 0 0 425,000 425,000 922,195 922,195 305,000 100,220 310,083 5,083 310,083 100,220 100,220 0 110,000 110,000 110,000 1,046 1,046 0 1,046 201 201 201 329000 Common Stock 1,000,000 1,000,000 618,009 1,000,000 330010 Retained Earnings (Direct Posting) 600000 Sales Revenue 610000 Sales Discount 618,009 618,009 570,685 570,685 570,685 440 440 440 700000 Labor 0 110,000 110,000 110,000 740000 Supplies Expense 740300 Rent Expense 740400 Insurance Expense 480 0 480 480 4,500 0 4,500 4,500 2,500 0 2,500 2,717 1,046 2,500 741200 Bad Debt Expense 741500 Utilities (electricity & phone) 741800 Depreciation Expense 741900 Advertising Expense 780000 Cost of Goods Sold 2,717 0 2,717 0 1,046 1,046 5,083 0 5,083 5,083 1,000 1,000 1,000 347,875 347,875 347,773 102 2,590,505 2,595,005 126,428 2,713,851 2,713,851 126,428 475,641 95,044 570,685 2,238,210 2,143,166 95,044 Net Income/Loss Totals 2,590,505 2,595,005 126,428 2,713,851 2,713,851 126,428 570,685 570,685 2,238,210 2,238,210