Sales revenue Sales returns and allowances Sales discount Cost of goods sold Salaries and wages Utilities expense Advertising expense Depreciation expense Insurance expense Interest expense Taxes Owners capital beginning Additional capital Owners drawings Cash Short-term investments. Accounts receivables Inventory Supplies Prepayments Land Building Plant and Machinery. Equipment Accumulated depreciation. Intangibles Accounts payable Taxes payable Salaries and wages payable Unearned revenue Interest payable Mortgage payable Bank Loans Other Long-term debt TOTAL Debit $1,200.00 800.00 31,600.00 6,400.00 1,700.00 1,600.00 1,500.00 200.00 100.00 100.00 10,900.00 6,600.00 7,200.00 8,000.00 3,000.00 1,100.00 1,400.00 6,000.00 6,000.00 9,000.00 15,000.00 3,100.00 $122,500.00 Credit $48,400.00 31,800.00 10,000.00 5,000.00 9,600.00 2,000.00 3,100.00 900.00 400.00 4,000.00 6,000.00 1,300.00 $122,500.00
Sales revenue Sales returns and allowances Sales discount Cost of goods sold Salaries and wages Utilities expense Advertising expense Depreciation expense Insurance expense Interest expense Taxes Owners capital beginning Additional capital Owners drawings Cash Short-term investments. Accounts receivables Inventory Supplies Prepayments Land Building Plant and Machinery. Equipment Accumulated depreciation. Intangibles Accounts payable Taxes payable Salaries and wages payable Unearned revenue Interest payable Mortgage payable Bank Loans Other Long-term debt TOTAL Debit $1,200.00 800.00 31,600.00 6,400.00 1,700.00 1,600.00 1,500.00 200.00 100.00 100.00 10,900.00 6,600.00 7,200.00 8,000.00 3,000.00 1,100.00 1,400.00 6,000.00 6,000.00 9,000.00 15,000.00 3,100.00 $122,500.00 Credit $48,400.00 31,800.00 10,000.00 5,000.00 9,600.00 2,000.00 3,100.00 900.00 400.00 4,000.00 6,000.00 1,300.00 $122,500.00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Below is the Adjusted Trial Balance of Ed Noel Enterprise for the year ended December 31, 2019. Prepare the Income Statement, Balance Sheet , and Statement of Changes in Equity of the company with proper financial statement format.
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