usului Macklemore, Inc. Trial Balance Dec. 2, 20x1 Cash $ 95,000 Accounts Receivable $ 10,000 Note Receivable $ 25,000 Inventory $ 23,400 Supplies $ 2,600 Equipment $ 43,000 Prepaid Rent $ 6,000 Prepaid Insurance $ 2,400 Accounts Payable $ 88,310 Notes Payable $ 12,000 Unearned Rent Revenue $ 4,000 Capital $ 91,550 Sales $ 45,900 Cost of Goods Sold $ 32,560 Salaries Expense $ 1,800 $ Total 241,760 241,760 5 3 YOUR STUDENT ID #774 2 6 2 4 A B B the general iournal then prepare the trial balance for December 31: uuuuu $ 4 INTS TITLE AND EXPLANATION DEBIT(S) CREDIT($) Dr. Purchase S 65,324 Cr. Accounts Payable S 65,324 To record purchase on credit with term 2/10,n/30) Dr. Accounts Receivable S 25,024 Cr. Sales (To record sales on account) $ 25,024 Dr. Cost of goods sold S 15,024 Cr.Merchandise Inventory (To record cost of goods sold $ 15,024 Dr. Accounts Payable S 65,324 Cr. Sales discount Cr. Cash (To record paid for 2nd Dec purchase) $ S 1,306 64,018 Dr. Cash $ 24,273 Dr. Purchase discounts 751 Cr. Accounts Receivable S 25,024 ord cash received against 4th Dec sale) 4,324 Dr. Owners' Drawings Cr. Cash (To record cash withdrw by Owner) $ 4,324 TS TITLE AND EXPLANATION DEBIT(S) CREDIT(S) Dr. Utility expenses 2.500 Cr. Utility expense payabic s 2.500 record electricty bill of Dec due but unpaid) Dr. Wages Expense (S100x4 days)x5 S Cr. Wages Payable (To record salary due but unpaid) 2.000 $ 2.000 1.000 $ 1,000 Dr. Interest Expenses Cr. Interest Payable (To record inerest accrued on Note (25,000x12% 4/12) 15 S 15 Dr. Interest Receivables Cr. Interest Income interest accrued on saving account) (6,000x1%x3/12 400 s 400 Dr. Insurance expense S Cr. Prepaid Insurance record insurance premium expired) [2.400-6x 1 4,000 $ 4,000 Dr. Depreciation expenses Cr. Accumlated Depreciation To record depreciation on equipment [(543,000-$3,000)-5 years )x6/12) Dr. Uneamed Rent Revenue S Ct. Rent Revenue 1.776 S 1,776 ord rent revenue earned by 31st Dec) [(S4,000 9 months) 4 months 2.174 $ 2,174 Dr. Supplies Expenses Cr. Office Supplies (To record supplies consumed) (2.600-S426 Dr. Rent Expenses Cr. Rent Payable record rent expense due but unpaid) 2.526 $ 2.526 Dr. Interest Expenses Cr. Interest Payable di Note 300 s 300 income Statement For the period ending Dec. 31, 20X1 Sales Less: Sales Discounts Net Sales COGS Gross Profit Operating Expenses Selling Expenses Utilities Expense Rent Expense Salaries Expense Depreciation Exense Total Selling Expenses G&A Expenses Insurance Expense Supplies Expense Salaries Expense Total G&A Exenses Total operating expenses Income From Operations Other Revenues and gains expenses and losses Interest Revenue Rent Revenue Interest Expense Net Income Assets: Current Assets: Cash Accounts receivable Interest Receivable Note Receivable Inventory Supplies Prepaid Rent Prepaid Insurance Long-term Assets: Equipment Accumulated Depreciation Total Assets Macklemore, Inc. Balance Sheet As of Dec. 31, 20X1 Liabilities: Accounts Payable Utilities Payable Salaries Payable Notes Payable Interest Payable Unearned Rent Revenue Total Liabilities: Equity Capital Total Equity: Total Liabilities & Equity Macklemore, Inc. Statement of Owners' Equity For the Period ending Dec. 31, 20X1 Beginning Capital, Dec. 1 Investments Net Income Withdrawals Ending Capital, Dec. 31 Unadjusted Trial Balance Dr. Cr. || Adjustments Dr. Cr. Adjusted Trial Balance Dr. Cr. Post Closing Trial Balance Dr. Cr. 10.000 WO 125.000 10.000 MO 25.000 110.000 WO A000 Account Title Cash Accounts Receivable Interest Recevable Note Receivable Inventory Supplies Equipment Accumulated Depreciation Prepaid Rent Prepald Insurance Accounts Payable Notes Payable interest Payable Utilities Payable Salarles Payable Unearned Rent Revenue Capital Withdrawals Sales Rent Revenue Interest Revenue Cost of Goods Sold Sales Discount Utilities Expense Salaries Expense Insurance Expense Rent Expense Supplies Expense Interest Expense Depreciation Expense Total usului Macklemore, Inc. Trial Balance Dec. 2, 20x1 Cash $ 95,000 Accounts Receivable $ 10,000 Note Receivable $ 25,000 Inventory $ 23,400 Supplies $ 2,600 Equipment $ 43,000 Prepaid Rent $ 6,000 Prepaid Insurance $ 2,400 Accounts Payable $ 88,310 Notes Payable $ 12,000 Unearned Rent Revenue $ 4,000 Capital $ 91,550 Sales $ 45,900 Cost of Goods Sold $ 32,560 Salaries Expense $ 1,800 $ Total 241,760 241,760 5 3 YOUR STUDENT ID #774 2 6 2 4 A B B the general iournal then prepare the trial balance for December 31: uuuuu $ 4 INTS TITLE AND EXPLANATION DEBIT(S) CREDIT($) Dr. Purchase S 65,324 Cr. Accounts Payable S 65,324 To record purchase on credit with term 2/10,n/30) Dr. Accounts Receivable S 25,024 Cr. Sales (To record sales on account) $ 25,024 Dr. Cost of goods sold S 15,024 Cr.Merchandise Inventory (To record cost of goods sold $ 15,024 Dr. Accounts Payable S 65,324 Cr. Sales discount Cr. Cash (To record paid for 2nd Dec purchase) $ S 1,306 64,018 Dr. Cash $ 24,273 Dr. Purchase discounts 751 Cr. Accounts Receivable S 25,024 ord cash received against 4th Dec sale) 4,324 Dr. Owners' Drawings Cr. Cash (To record cash withdrw by Owner) $ 4,324 TS TITLE AND EXPLANATION DEBIT(S) CREDIT(S) Dr. Utility expenses 2.500 Cr. Utility expense payabic s 2.500 record electricty bill of Dec due but unpaid) Dr. Wages Expense (S100x4 days)x5 S Cr. Wages Payable (To record salary due but unpaid) 2.000 $ 2.000 1.000 $ 1,000 Dr. Interest Expenses Cr. Interest Payable (To record inerest accrued on Note (25,000x12% 4/12) 15 S 15 Dr. Interest Receivables Cr. Interest Income interest accrued on saving account) (6,000x1%x3/12 400 s 400 Dr. Insurance expense S Cr. Prepaid Insurance record insurance premium expired) [2.400-6x 1 4,000 $ 4,000 Dr. Depreciation expenses Cr. Accumlated Depreciation To record depreciation on equipment [(543,000-$3,000)-5 years )x6/12) Dr. Uneamed Rent Revenue S Ct. Rent Revenue 1.776 S 1,776 ord rent revenue earned by 31st Dec) [(S4,000 9 months) 4 months 2.174 $ 2,174 Dr. Supplies Expenses Cr. Office Supplies (To record supplies consumed) (2.600-S426 Dr. Rent Expenses Cr. Rent Payable record rent expense due but unpaid) 2.526 $ 2.526 Dr. Interest Expenses Cr. Interest Payable di Note 300 s 300 income Statement For the period ending Dec. 31, 20X1 Sales Less: Sales Discounts Net Sales COGS Gross Profit Operating Expenses Selling Expenses Utilities Expense Rent Expense Salaries Expense Depreciation Exense Total Selling Expenses G&A Expenses Insurance Expense Supplies Expense Salaries Expense Total G&A Exenses Total operating expenses Income From Operations Other Revenues and gains expenses and losses Interest Revenue Rent Revenue Interest Expense Net Income Assets: Current Assets: Cash Accounts receivable Interest Receivable Note Receivable Inventory Supplies Prepaid Rent Prepaid Insurance Long-term Assets: Equipment Accumulated Depreciation Total Assets Macklemore, Inc. Balance Sheet As of Dec. 31, 20X1 Liabilities: Accounts Payable Utilities Payable Salaries Payable Notes Payable Interest Payable Unearned Rent Revenue Total Liabilities: Equity Capital Total Equity: Total Liabilities & Equity Macklemore, Inc. Statement of Owners' Equity For the Period ending Dec. 31, 20X1 Beginning Capital, Dec. 1 Investments Net Income Withdrawals Ending Capital, Dec. 31 Unadjusted Trial Balance Dr. Cr. || Adjustments Dr. Cr. Adjusted Trial Balance Dr. Cr. Post Closing Trial Balance Dr. Cr. 10.000 WO 125.000 10.000 MO 25.000 110.000 WO A000 Account Title Cash Accounts Receivable Interest Recevable Note Receivable Inventory Supplies Equipment Accumulated Depreciation Prepaid Rent Prepald Insurance Accounts Payable Notes Payable interest Payable Utilities Payable Salarles Payable Unearned Rent Revenue Capital Withdrawals Sales Rent Revenue Interest Revenue Cost of Goods Sold Sales Discount Utilities Expense Salaries Expense Insurance Expense Rent Expense Supplies Expense Interest Expense Depreciation Expense Total