Question

The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2015 Debits 4,800 1,800 4,800 10,800 Credits Account Title Cash Accounts receivable Inventory Equipment Accumulated depreciation- 3,300 equipment Accounts payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries and wages expense Rent expense Advertising expense 2,800 10,000 6,100 0 0 0 0 Totals 22,200 22,200

Answer 1

Anwer

Posting the Transactions into appropriate T-accounts

Cash A/C
Particulars(Debit)	Amount($)	Particulars(Credit)	Amount($)
To Balance b/d	4,800	By Equipment A/C	800
To Sales Revenue A/C	3,300	By Strong company A/C	5,300
To Account Receivable A/C	3,800	By Rent A/C	800
		By Salaries and Wage Expense A/C	2,800
		By Dividends A/C	1,000
		By Balance c/d	1,200
	11,900		11,900

Account Receivable A/C
Particulars(Debit)	Amount($)	Particulars(Credit)	Amount($)
To Balance b/d	1,800	By Cash A/C	3,800
To Salaries and Wage Expense A/C	4,800	By Balance c/d	2,800
	6,600		6,600

Inventory A/C
Particulars(Debit)	Amount($)	Particulars(Credit)	Amount($)
To Balance b/d	4,800	By Cost of goods sold A/C	1,800
		By Cost of goods sold A/C	2,600
		By Balance c/d	400
	4,800		4,800

Equipment A/C
Particulars(Debit)	Amount($)	Particulars(Credit)	Amount($)
To Balance b/d	10,800
To Strong company A/C	5,300
To Cash A/C	800	By Balance c/d	16,900
	16,900		16,900

Rent Expense A/C
Particulars(Debit)	Amount($)	Particulars(Credit)	Amount($)
To Cash A/C	800	By Balance c/d	800
	800		800

Salaries and Wages Expense A/C
Particulars(Debit)	Amount($)	Particulars(Credit)	Amount($)
To Cash A/C	2,800	By Balance c/d	2,800
	2,800		2,800

Advertisement Expense A/C
Particulars(Debit)	Amount($)	Particulars(Credit)	Amount($)
To Account Payable A/C	150	By Balance c/d	150
	150		150

Accumulated Depreciation – Equipment A/C
Particulars(Debit)	Amount($)	Particulars(Credit)	Amount($)
To Balance c/d	3300	By Balance b/d	3300
	3,300		3,300

Account Payable A/C
Particulars(Debit)	Amount($)	Particulars(Credit)	Amount($)
		By Balance b/d	2,800
		By Purchases A/C	9,400
To Balance c/d	12,350	By Advertisement Expense A/C	150
	12,350		12,350

Common Stock A/C
Particulars(Debit)	Amount($)	Particulars(Credit)	Amount($)
To Balance c/d	10,000	By Balance b/d	10,000
	10,000		10,000

Retained Earnings A/C
Particulars(Debit)	Amount($)	Particulars(Credit)	Amount($)
To Balance c/d	6,100	By Balance b/d	6,100
	6,100		6,100

Sales Revenue A/C
Particulars(Debit)	Amount($)	Particulars(Credit)	Amount($)
		By Cash A/C	3,300
To Balance c/d	8,100	By Account Receivable A/C	4,800
	8,100		8,100

Cost of goods sold A/C
Particulars(Debit)	Amount($)	Particulars(Credit)	Amount($)
To Inventory A/C	1,800	By Balance c/d	4,400
To Inventory A/C	2,600
	4,400		4,400