Joe's Surf ShopAdjusted Trial BalanceAs of December 31, 2021(In aphabetical order)AccountAccounting Office Salary ExpenseAccounts PayableAccounts ReceivableAccumulated Depreciation BuildingAccumulated Depreciation EquipmentAdditional Paid In Capital - Common StockAdvertising ExpenseAllowance for Doubtful AccountsBond PayableBuildingCashCommon StockCost of Goods Sold: Surf BoardsDividendsEquipmentFederal Withholding Tax PayableGoodwillHeadquarter Office Rent ExpenseInventoryLandNote PayablePatent: Surf Board Float SystemPrepaid InsuranceRetained EarningsSalaries Payable StatSurf Shop Salary ExpenseSurf Board SalesSuppliesTravel Expense to Promote Surf BoardsUnearned RevenueTotals$$$$$$$$$$$$$$ 880,000$Debit$50,000550,000$20,0001,910,000200,0001,500,000250,000$$1,000,000100,000150,000675,000$$$275,0004,000$75,0006,000175,000$Credit$$$$114,000900,000400,00050,00050,000750,00010,0001,400,0001,281,00040,0002,800,000$25,0007,820,000 $ 7,820,000e cc Income Statement

Income statement is a financial statement which sows profitability of a firm over a period of time…

Joe's Surf Shop Adjusted Trial Balance As of December 31, 2021 (In aphabetical order) Account Accounting Office Salary Expense Accounts Payable Accounts Receivable Accumulated Depreciation - Building Accumulated Depreciation Equipment Additional Paid In Capital - Common Stock Advertising Expense Allowance for Doubtful Accounts Bond Payable Building Cash Common Stock Cost of Goods Sold: Surf Boards Dividends $ $ s $ $ $ 555 $ $ Debit 50,000 550,000 20,000 1,910,000 200,000 1,500,000 250,000 880,000 $ S S $ $ $ Credit 114,000 900,000 400,000 50,000 50,000 750,000

Joe's Surf Shop Adjusted Trial Balance As of December 31, 2021 (In aphabetical order) Account Accounting Office Salary Expense Accounts Payable Accounts Receivable Accumulated Depreciation - Building Accumulated Depreciation Equipment Additional Paid In Capital - Common Stock Advertising Expense Allowance for Doubtful Accounts Bond Payable Building Cash Common Stock Cost of Goods Sold: Surf Boards Dividends $ $ s $ $ $ 555 $ $ Debit 50,000 550,000 20,000 1,910,000 200,000 1,500,000 250,000 880,000 $ S S $ $ $ Credit 114,000 900,000 400,000 50,000 50,000 750,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Accounts Payable Accounts Receivable Accumulated Depreciation (Equip) Allowance for Doubtful Accounts Bonds Payable Cash Cash Dividends Common Stock Cost of Goods Sold Depreciation expense Equipment Interest Expense Inventory Adjusted Trial Balance 12/31/2020 Gain on Sale of Equipment Notes Payable (due 9/30/22) PIC in Excess of Par - Common PIC from Treasury Stock Preferred Stock Prepaid Rent Retained Earnings Salary Expense Sales Returns & Allowances Sales Revenue Supplies Treasury Stock Unearned Sales Revenue Utilities Expense TOTALS Debit $4,000 $12,400 $2,800 $16,400 $1,400 $50,000 $400 $4,800 $600 $4,600 $2,000 $400 $600 $2,000 Credit $9,000 $10,000 $200 $10,000 $600 $600 $600 $20,000 $1,400 $6,000 $6,400 $36,800 $800 $102,400 $102,400 Total Assets Total Current Assets Total Liabilities Total Current Liabilities Total Stockholders' Equity Total Paid-in Capital Gross Profit Income from Operations Net Income Intangible Assets
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Question Description SABRINA CORPORATION UNADJUSTED TRIAL BALANCE DECEMBER 31, 2019 DEBIT CREDIT CASH 36,868 FV-NI Short Term INVESTMENTS 30,300 ACCOUNTS RECEIVABLE 425,755 ALLOWANCE FOR DOUBTFUL ACCOUNTS 8,400 INVENTORY 402,912 NOTES RECEIVABLE 30,000 OFFICE BUILDING 500,000 ACCUMULATED DEPRECIATION (OFFICE BUILDING) 280,000 OFFICE EQUIPMENT 120,000 ACCUMULATED DEPRECIATION (OFFICE EQUIPMENT) 0 ACCOUNTS PAYABLE 205,258 DIVIDENDS PAYABLE 7,328 NOTES PAYABLE 60,000 PREFERRED STOCK, 30,000 OUTSTANDING ON DECEMBER 31, 2019 100,000 COMMON STOCK, 100,000 OUTSTANDING ON DEC 31, 2019 185,000 RETAINED EARNINGS 280,623 SALES REVENUE 3,590,524 SALES…