At the end of the year, on December 31, 2019, the bookkeeper of Honey Company prepared an Unadjusted Trial Balance with corresponding adjustments at the end of the year. Prepare the Statement of Financial Positiong of Honey Company (Account Form).
At the end of the year, on December 31, 2019, the bookkeeper of Honey Company prepared an Unadjusted Trial Balance with corresponding adjustments at the end of the year. Prepare the Statement of Financial Positiong of Honey Company (Account Form).
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter4: Gross Income
Section: Chapter Questions
Problem 7RP
Related questions
Question
At the end of the year, on December 31, 2019, the bookkeeper of Honey Company prepared an Unadjusted
![Unadjusted Trial Balance
Debit
Adjustment
Debit
Particulars
Credit
Credit
Cash
Cash in Bank
Accounts Receivable
Inventory
Land
31,500
50,000
20,100
40,500
1,500,000
180,000
с. 1,000
Equipment
Accumulated Dep- Eqpt.
Accounts Payable
Income Tax Payable
b. 8,000
32,000
80,500
55,000
4,000
150,000
Unearned Income
d. 4,000
Loans Payable
Long-term Debt
Honey, Capital
Honey, Drawings
Sales
255,000
1,227,600
5,000
460,000
d. 4,000
Sales Return & Allowances
12,000
Sales Discount
8,000
Cost of Sales
Advertising Expense
Salaries Expense
Utilities Expense
Rent Expense
с. 1,000
315,000
16,000
59,000
17,000
10,000
2,264,100
а. 5,000
Totals
2,264,100
b. 8,000
Depreciation Expense
Accrued Salaries Payable
a. 5,000
Totals
18,000
18,000
Net Income
Totals](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb5eda1d1-264c-4062-b5b3-396251f675d7%2F2717d0e8-734f-475c-a9f8-f34af5729901%2Fwuk6a6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Unadjusted Trial Balance
Debit
Adjustment
Debit
Particulars
Credit
Credit
Cash
Cash in Bank
Accounts Receivable
Inventory
Land
31,500
50,000
20,100
40,500
1,500,000
180,000
с. 1,000
Equipment
Accumulated Dep- Eqpt.
Accounts Payable
Income Tax Payable
b. 8,000
32,000
80,500
55,000
4,000
150,000
Unearned Income
d. 4,000
Loans Payable
Long-term Debt
Honey, Capital
Honey, Drawings
Sales
255,000
1,227,600
5,000
460,000
d. 4,000
Sales Return & Allowances
12,000
Sales Discount
8,000
Cost of Sales
Advertising Expense
Salaries Expense
Utilities Expense
Rent Expense
с. 1,000
315,000
16,000
59,000
17,000
10,000
2,264,100
а. 5,000
Totals
2,264,100
b. 8,000
Depreciation Expense
Accrued Salaries Payable
a. 5,000
Totals
18,000
18,000
Net Income
Totals
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