Debit Credit Accounts Payable Accounts Receivable Accumulated Depreciation: Buildings Accumulated Depreciation: Equipment Additional Paid-in Capital Administrative Expenses Allowance for Doubtful Accounts $ 6,400 $ 5,700 19,000 11,000 15,000 6,500 600 Buildings Common Stock, $1 par (4,000 shares) Cash Cost of Goods Sold Current Income Taxes Payable Dividends 42,000 4,000 5,000 27,400 4,035 2,400 22,000 4,035 650 Equipment Income Tax Expense Interest Expense Interest Payable (due July 1, 2020) Inventory land Notes Payable (due July 1, 2023) Prepaid Insurance Rent Revenue 650 10,800 6,800 10,000 1,600 2,800 14,500 54,900 Retained Earnings, January 1, 2019 Sales Revenue Selling Expenses Unearned Rent Wages Payable 9,700 700 1,000 $144,585 $144,585
Debit Credit Accounts Payable Accounts Receivable Accumulated Depreciation: Buildings Accumulated Depreciation: Equipment Additional Paid-in Capital Administrative Expenses Allowance for Doubtful Accounts $ 6,400 $ 5,700 19,000 11,000 15,000 6,500 600 Buildings Common Stock, $1 par (4,000 shares) Cash Cost of Goods Sold Current Income Taxes Payable Dividends 42,000 4,000 5,000 27,400 4,035 2,400 22,000 4,035 650 Equipment Income Tax Expense Interest Expense Interest Payable (due July 1, 2020) Inventory land Notes Payable (due July 1, 2023) Prepaid Insurance Rent Revenue 650 10,800 6,800 10,000 1,600 2,800 14,500 54,900 Retained Earnings, January 1, 2019 Sales Revenue Selling Expenses Unearned Rent Wages Payable 9,700 700 1,000 $144,585 $144,585
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Financial Statements Carolyn Company has prepared the following alphabetical
adjusted
Required:
Prepare the following 2019 items in proper form for Carolyn:
1. the income statement
2. the
3. the ending
Capital, and Retained Earnings accounts are summed to determine the total
shareholders’ equity )
4. the closing entries in the general journal
![Debit
Credit
Accounts Payable
Accounts Receivable
Accumulated Depreciation: Buildings
Accumulated Depreciation: Equipment
Additional Paid-in Capital
Administrative Expenses
Allowance for Doubtful Accounts
$ 6,400
$ 5,700
19,000
11,000
15,000
6,500
600
Buildings
Common Stock, $1 par (4,000 shares)
Cash
Cost of Goods Sold
Current Income Taxes Payable
Dividends
42,000
4,000
5,000
27,400
4,035
2,400
22,000
4,035
650
Equipment
Income Tax Expense
Interest Expense
Interest Payable (due July 1, 2020)
Inventory
land
Notes Payable (due July 1, 2023)
Prepaid Insurance
Rent Revenue
650
10,800
6,800
10,000
1,600
2,800
14,500
54,900
Retained Earnings, January 1, 2019
Sales Revenue
Selling Expenses
Unearned Rent
Wages Payable
9,700
700
1,000
$144,585
$144,585](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1f057080-2645-42c1-bbed-b0a6f175301b%2F0936bdd9-991c-4d0d-b5f5-f7b4706b51cd%2Fzr4lpfi_processed.png&w=3840&q=75)
Transcribed Image Text:Debit
Credit
Accounts Payable
Accounts Receivable
Accumulated Depreciation: Buildings
Accumulated Depreciation: Equipment
Additional Paid-in Capital
Administrative Expenses
Allowance for Doubtful Accounts
$ 6,400
$ 5,700
19,000
11,000
15,000
6,500
600
Buildings
Common Stock, $1 par (4,000 shares)
Cash
Cost of Goods Sold
Current Income Taxes Payable
Dividends
42,000
4,000
5,000
27,400
4,035
2,400
22,000
4,035
650
Equipment
Income Tax Expense
Interest Expense
Interest Payable (due July 1, 2020)
Inventory
land
Notes Payable (due July 1, 2023)
Prepaid Insurance
Rent Revenue
650
10,800
6,800
10,000
1,600
2,800
14,500
54,900
Retained Earnings, January 1, 2019
Sales Revenue
Selling Expenses
Unearned Rent
Wages Payable
9,700
700
1,000
$144,585
$144,585
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