Escolar Documentos
Profissional Documentos
Cultura Documentos
Adjustments
3.)Purchases 50,000
Accounts Payable 50,000
To record purchases made on the cut off date
Reclassifying entry
593,000
54,000
10,000
600,000
182,800
388,650
30,000
1,974,800 1,974,800
0
Charity Company
Working Trial Balance
Sales
Cos
MI,beg
Purchases
GAS
MI,end
CGS
GP
Selling
admin
Net income
Audited Balances Profit(Loss) Balance Sheet
3,500,000 3,500,000
50,800 50,800
2,474,000
400,000
124,000
80,000
32,000
12,000
14,000
16,000
26,000
9,750
39,200
1,200
3,550,800 3228150 3550800 0 0
322650
Charity Company
Working Trial Balance
593,000
54,000
10,000
600,000
182,800
30,000
3,500,000
50,800
593,000
100,000
51,000
985
5,000
600,000
182,800
3,500,000
59,815
2,630
1.) the cash account includes a cutomers check for 15,000 deposited on December 25 but returned by the bank for Dec 28 for
Accounte receivable 15,000
Cash in bank 15,000
2.) the AFDA should be adjusted to 5% of the customers outstanding balance, after writing off 2,500 of uncollectible accounts.
Allowance for doubtful accounts 2,500
Accounts receivable 2,500
3.) A physical inventory count of the merchandise at year end amounted to 601,200
4.) a purchase of merchandise FOB shipping point, 50,000, were in transit on december 31, 2014 was neither taken as liability
Purchases 50,000
Accounts payable 50,000
5.) Goods received on consignment still unsold were included in the inventory at the agreed selling price of 30,000
Merchandise inventory, beg 30,000
Merchandise inventory, end 30,000
7.) On July 1, 201,4 equipment acquired on october 1, 2011 with a carrying value of 32,000 on dec 31, 2013 was sold for 35,00
Accumulated depreciation 2630
Cash 35,000
Gain on sale of equipment 2,630
furniture and equipment 3,000
Miscellaneous equipment 32,000
8.) depreciation for the year 2014 has not been recorded, depreciation rate is 12%
Depreciation expense 44,400
Accumulated depreciation 44,400
9.) an insurance policy was renewed on the inventory and equipment on April 1, 2014 with an annual premium of 8,000 paid o
Insurance expense 6,000
Prepaid insurance 6,000
10.) the unearned rent account consisted of rent collected for 13 months ending january 31, 2015.
Unearned rent 11,815
rent income 11,815
11.) the one year note payable of 100,000 taken on July 1, 2014 at an annual interest rate of 10% was not recorded the net pro
int exp 5,000
disc 5,000
cash 90,000
discount on np 10,000
notes payable 100,000
rned by the bank for Dec 28 for lack of counter signature no entry was made by the company for the return of the check or its re deposit o
14 was neither taken as liability nor included in the inventory on that date.
dec 31, 2013 was sold for 35,000 cash. The sales proceed was credited to the furniture and equipment account.
960
annual premium of 8,000 paid on that date.
15,650.00
ul Accounts 15,650.00
50,000.00
50,000.00
30,000.00 Ito po diko sure, pero for the benefit lang na maipaki
30,000.00 yung entry na binawas siya sa invty end ng balance
sheet, pero hindi po ako marunong kung paano
ilalagay yung invty end na debit sa income statemen
11,000.00
6,000.00
5,000.00
64,300.00
ation -Furniture 64,300.00
4,200.00
4,200.00
10,000.00
10,000.00
11,000.00
11,000.00
300,000.00
300,000.00
Dito po binawas ko na agad sa invty end yung goods
on consignment
15,650.00 15,650.00
2,120,500.00 2,120,500.00
621,200.00 621,200.00
6,000.00 6,000.00
64,300.00 64,300.00
4,200.00 4,200.00
10,000.00 10,000.00
11,000.00 11,000.00
3,259,350.00 3,259,350.00 5,970,150.00 5,970,150.00
Income Statement Per Audit
DR CR
3,728,200.00
47,600.00
-
-
96,100.00
288,500.00
152,000.00
29,900.00
120,000.00
197,200.00
15,000.00
6,600.00
47,800.00
163,400.00
30,200.00
9,100.00
15,650.00
2,120,500.00
6,000.00
64,300.00
3,394,750.00 3,743,300.00
Per Books
Account Titles DR
Cash 225,000.00
Accounts Receivables 936,000.00
Allowance for Doubtful Accounts
Notes Receivable 155,000.00
Merchandise Inventory 568,900.00
Furniture and Equipment 618,000.00
Accumulated Depreciation
Goodwill 300,000.00
Accounts Payable
Notes Payable
Common Stock
Retained Earnings
Sales
Sales Returns and Allowances 47,600.00
Purchases 2,159,300.00
Purchases Returns and Allowances
Advertising Expense 96,100.00
Sales Salaries 288,500.00
Commission Salaries 152,000.00
MiscellaneousSelling Expenses 29,900.00
Rent Expense 130,000.00
Office Salaries 197,200.00
Light and Water 15,000.00
Insurance Expense 10,800.00
Taxes and Licences 47,800.00
General Expenses 163,400.00
Interest Expense 41,200.00
Interest Income
TOTAL 6,181,700.00
- 15,650.00 15,650.00
- 2,120,500.00 2,120,500.00
- 621,200.00 621,200.00
- 6,000.00
- 64,300.00 64,300.00
- 4,200.00 4,200.00
- 10,000.00 10,000.00
- 11,000.00 11,000.00
6,181,700.00 3,259,350.00 ### 5,970,150.00
Per Audit Balance Sheet per Audit
CR DR CR
210,000.00
951,000.00
47,550.00 47,550.00
155,000.00
-
613,000.00
240,800.00 240,800.00
-
586,000.00 586,000.00
100,000.00 100,000.00
1,000,000.00 1,000,000.00
252,500.00 252,500.00
3,728,200.00
9,100.00
621,200.00
6,000.00
4,200.00
10,000.00
11,000.00
104,565.00
243,985.00
5,970,150.00 2,575,400.00 2,575,400.00