Sapphire Gems and Minerals Co Ltd - Garnet Division Trial Balance as of December 31, 2022 DR 3,005,000 4,445,000 Cash Accounts receivable Allowance for bad debt Other debtors Merchandise Inventory Store Supplies Prepaid Insurance Prepaid rent Furniture & Equipment Accumulated deprecation-Furniture and equipment Motor Truck Accumulated depreciation- Motor Truck Accounts payable Salary payable Interest payable Unearned Sales revenue Note Payable, long term Capital Withdrawals Sales revenue Sales discount Sales returns and allowances Cost of goods sold Salaries expense Insurance Expense Utilities Expense Rent Expense Depreciation Expense - Furniture and Equipment Depreciation Expense - Motor truck Store Supplies Expense Gain/loss on Disposal of Fixed Asset Bad-Debt Expense Interest Expense 8,800,000 1,200,000 5,985,000 1,484,000 12,000,500 2,660,000 55,750 705,500 750,500 7,450,000 8,900,000 705,500 1,554,000 CR 300,000 4,760,200 1,962,697 430,900 1,255,550 5,190,000 15,801,403 30,000,000 59,700,750 59,700,750

Sapphire Gems and Minerals Co Ltd - Garnet Division Trial Balance as of December 31, 2022 DR 3,005,000 4,445,000 Cash Accounts receivable Allowance for bad debt Other debtors Merchandise Inventory Store Supplies Prepaid Insurance Prepaid rent Furniture & Equipment Accumulated deprecation-Furniture and equipment Motor Truck Accumulated depreciation- Motor Truck Accounts payable Salary payable Interest payable Unearned Sales revenue Note Payable, long term Capital Withdrawals Sales revenue Sales discount Sales returns and allowances Cost of goods sold Salaries expense Insurance Expense Utilities Expense Rent Expense Depreciation Expense - Furniture and Equipment Depreciation Expense - Motor truck Store Supplies Expense Gain/loss on Disposal of Fixed Asset Bad-Debt Expense Interest Expense 8,800,000 1,200,000 5,985,000 1,484,000 12,000,500 2,660,000 55,750 705,500 750,500 7,450,000 8,900,000 705,500 1,554,000 CR 300,000 4,760,200 1,962,697 430,900 1,255,550 5,190,000 15,801,403 30,000,000 59,700,750 59,700,750

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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