Date
1 2 3 4 5 6 7 8 9 10 11 12 13 14 Accounts Title and Explanation
Cash
Common Stock
Equipment
Inventory (1000 x 70)
Office Supplies
Cash Debit Credit
150,000
150,000
25,000
70,000
5,000
100,000 Land
Long term Notes Payable 100,000 Inventory (2000 x 65)
Accounts Payable 130,000 Accounts Payable
Cash 110,000 Accounts Receivable
Sales Revenue (2500 x 120) 300,000 Cost of Goods Sold
Inventory (1000 x 70) + (1500 x 65) 167,500 Cash
Accounts Receivables (80% x 300000) 240,000 100,000 130,000 110,000 300,000 167,500 240,000 Bad Debts (20% x 300000) x 1/4
Allowance for Doubtful Debts 15,000 Salaries Expenses
Cash
Salaries Payable 60,000 Rent Expenses
Cash 12,000 15,000 58,000
2,000 12,000 Office Supplies Expenses
Office Supplies 3,500 Depreciation Expenses - Equipment
Accumulated Depreciation- Equipment
(25000 - 0)/5 5,000 Income Tax Expenses 3,500 5,000 11,000 Cash
Income Tax Payable
15 16 17 Treasury Stock
Cash 8,000
3,000
6,000
6,000 Dividend
Cash 10,000 Interest Expenses
Interest Payable
(100000 x 12%) 12,000 10,000 Total 12,000 1,432,000 1,432,000
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Status NEW
Posted 09 May 2017 04:05 AM
My Price 10.00
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