Question

I need help with the T accounts and post closing trial. Sorry if the pictures are out of order.

Balance Sheet December 31, 2018 Liabilities and Stockholders' Equity: Current Liabilities 7 Assets: 8 Current Assets 7.600 Accounts Payable 10.200 Cash 2.000 Interest Payable 12.480 10 Accounts Receivable 200 (6.250) Salary and Wages Payable Less Allowance for Doubtful AcCounts 11 $ 9.800 Total Current Liabilities 12 Inventory 13 Prepaid Insurance 14 Supplies 12,620 2.000 Long Term Liabilities 410 $50.000 *** Bonds Payable, 8 % , 10 year 31.460 Total Current Assets 15 16 17 Property, Plant and Equipment 18 Building 19 Less Accumulated Depreciation 20 Equipment $59.800 Total Liabilities $ 100.000 (30.000) Stockholders' Equity 60.000 $ 55.000 Common Stock (35.855) Less Accumulated Depreciation Total Property, Plant and Equipment 21 10.805 Retained Earnings $ 94.145 22 $ 65.805 Total Stockholders' Equity 23 24 25 26 $125.605 Total Liabilities and Stockholders' Equity $ 125.605 27 Total Assets 28 29 Interest payable Jan. 1 and July 1 30 "Inventory balance is 31 5000 units at $1.60 each 32 2800 units at $1.65 each Total Inventory 8.000 $ 4.620 12.620 $ 33 T-Accounts Balance Sheet Dec 2018 Journal Entries 100% Gereed 11:04 AM x NLD 11/22/2019

Answer 1

DI Amount ($) 2000 Particulars To Balance b/d To Bad Debts To Accounts Receivable To Sales 2000 2580 Cash A/C Amount ($) Particulars 10200 By Interest Payable A/C 1000 By Salaries & wages A/C 98900 By Salaries & payable A/C 8700 Bv Interest Pavable A/C By Purchases By Salaries & wages A/C By Prepaid Insurance A/C By Insurance Expense A/c By Accounts Payable By Selling Expenes By admin Expenes By Balance c/d 64000 2400 4800 12300 1800 2650 23500 Total 118800 Total 118800

Di Salaries & Wages A/C Amount ($) Particulars 550 By Retained Earnings 64000 1000 Particulars To Cash A/C To Cash A/C To Salaries & Wages Payable Amount ($) 65550 Total 65550 Total Particulars To Retained Earnings Sales A/C Amount ($) Particulars 192400 By Accountes Receivable A/C By Accountes Receivable A/C By Accountes Receivable A/C By Cash By Accountes Receivable A/C Amount ($) 52000 392001 37500 87001 550001 Total 192400 Total 192400

Interest Payable A/C Amount ($) Particulars 2000 By Balance b/d 2000 By Interest expense a/c 2000 By Interest expense a/c Particulars To Cash A/C To Cash A/C To Balance b/d Amount ($) 2000 2000 2000 Total 6000 Total 6000 Dr C C Amount (S) Particulars To Cash A/C To Balance b/d Salaries & Wages Payable A/C Amount ($) Particulars 200 By Balance c/a 1000 By Salaries & wages 200 1000 Total 1200 Total 1200

Di Salaries & Wages A/C Amount ($) Particulars 550 By Retained Earnings 64000 1000 Particulars To Cash A/C To Cash A/C To Salaries & Wages Payable Amount ($) 65550 Total 65550 Total Particulars To Retained Earnings Sales A/C Amount ($) Particulars 192400 By Accountes Receivable A/C By Accountes Receivable A/C By Accountes Receivable A/C By Cash By Accountes Receivable A/C Amount ($) 52000 392001 37500 87001 550001 Total 192400 Total 192400

DI CI Particulars To Balance c/d To Accounts Payable A/C Total Supplies A/C Amount ($) Particulars 410 By Retained Earnings 1200 By Balance b/d 1610 Total Amount ($) 1230 380 1610 Dr Particulars To Cash A/C Accounts Payable A/C Amount ($) Particulars 12300 By Balance c/d By Supplies A/C 8250 By Purchases A/C By Purchases A/C Amount ($) 7600 1200 5100 6650 To Balance b/a Total 20550 Total 20550 Di Purchases A/C Amount ($) Particulars 5100 To Retained Earnings 2580 66501 Particulars To Accounts Payable A/c To Cash A/C To Accounts Payable A/c Amount ($) 14330 Total 14330Total 14330

Amount ($) Particulars To Accounts Receivable A/c Bad Debts A/C Amount ($) Particulars 5700 By Cash A/C By Retained Earnings 1000 4700 Total 5700 Total 5700 Dr Particulars To Balance b/d To Sales To Sales To Sales To Sales Accounts Receivable Amount ($) Particulars 12480 By Bad Debts A/c 52000 By Cash A/C 39200 By 6% Notes Receivable A/C 37500 55000 By Balance c/d Amount ($) 5700 98900 55000 36580 Total 196180 196180

Dr CI Particulars To Interest Payable A/ To Interest Payable A/c Interest Expense A/C Amount ($) Particulars 2000 By Retained Earnings 2000 Amount ($) 4000 Total 4000 Total 4000 Dr Particulars To Bal b/d To Cash A/C Total Prepaid Insurance A/c Amount ($) Particulars 2000 By Insurance Expense A/c 2400 By Bal c/d 4400 Total Amount ($) 2000 2400 4400 Dr Amount ($) Particulars To Cash A/C To Prepaid Insurance A/C Total Insurance Expense A/C Amount ($) Particulars 4800 2000 By Retained Earnings 6800 Total 6800 6800

Dr Amount ($) Particulars To Cash A/C To Prepaid Insurance A/C Insurance Expense A/C Amount ($) Particulars 4800 2000 By Retained Earnings 6800 Total 6800 Total 6800 Di Particulars To Cash Selling Expense A/C Amount ($) Particulars 1800 By Retained Earnings Amount ($) 1800 Di Particulars To Cash Admin Expense A/C Amount ($) Particulars 2650 By Retained Earnings Amount ($) 2650 Di Particulars To Cash Dividend A/C Amount ($) Particulars 4000 By Retained Earnings 4000 Total 4000 Total 4000

Du Particulars To Accounts Recivable A/c 6% Notes Receivable A/C Amount ($) Particulars 55000 By Balance b/d Amount ($) 55000 Total 55000 Total 55000 Di Interest Receivable A/C Amount ($) Particulars 550 BT Balance b/d Particulars To Interest Income A/C Amount ($) 550 Total 550 Total Dr Interest Income A/C Amount ($) Particulars 550 By Interest Receivable A/C Particulars To Retained Earnings Amount ($) Total 550 Total 550

DI Particulars To Balance b/d Equipment A/C Amount $) Particulars 24145 By Depreciation A/C By Balance C/d Amount ($) 5272 18873 Total 24145 Total 24145 DI Particulars To Balance b/d Building A/C Amount ($) Particulars 70000 By Depreciation A/c By Balance C/d Amount ($) 3000 67000 Total 70000 Total 70000 DI Amount (5) Particulars To Building To Equipment Depreciation A/C Amount (5) Particulars 3000 5272 By Retained Earnings 8272 Total 8272 Total 8272

DI To Opening Stock To Purchases A/C Retained Earnings A/C 12620 Bv Sales 14330 By Closing Stock 192400 5600 To Gross Profit 171050 198000 198000 171050 550 To Supplies A/C To Insurance Expense To Dividend A/C To Interest Expense To Depreciation To salaries & wages To Bad Debts To Admin Expenses To Selling Expenses 1230 Bv gross Profit 6800 By Interest Income 4000 40001 82721 65550 4700 2650 1800 To Net Income 72598 171600 171600