Question

5 Create the Trial Balance for Be Jeweled, Inc. as of June 30, 2017 in 6 proper form. (12.5 points--graded for accuracy and format, 7 including Excel spreadsheet links and formulas) 12 9 There are no check figures for Part C. 10 11 Solution: Be Jeweled, Inc. 13 Trial Balance 14 30-Jun-17 15 16 Account Debit Credit 17 Cash 18 Accounts Receivable 19 Inventory 20 Prepaid Insurance 21 Building 22 Accumulated Depreciation 23 Accounts Payable 24 Interest Payable 25 Mortgage Payable 26 Common Stock 27 Sales Revenue 28 Cost of Goods Sold 29 Wage Expense 30 Office Expense Net Income 31 Rent Evnence ► A. Journal Entries B. T-Accts C. Trial Balance D. Retained Earnings E. Balance Sheet F. Statement of Cash Flov ... + - + 107%

Answer 1

Trial Balance
Account Titles	Debit	Credit	Working
Cash	$    284,610.00		=7100*21-2400-348000*35%-2100+260000-42000+5505+62835-24530
Accounts Receivable	$        2,995.00		=8500-5505
Inventory	$      36,010.00		=66350-30340
Prepaid Insurance	$        1,225.00		=2100-875
Display Equipment	$        2,400.00		2400
Accumulated Depreciation - Equipment		$              100.00	=2400/10*5/12
Building	$    348,000.00		348000
Accumulated Depreciation - Building		$           3,625.00	=348000/40*5/12
Accounts Payable		$        24,350.00	=66350-42000
Interest Payable		$           7,328.75	=226200*4.5%*5/12+260000*4.75%*3/12
Salaries and Wages Payable		$           3,535.00	=28065-24530
Mortagage Payable		$      226,200.00	=348000*65%
Bank Loan Payable		$      260,000.00	260000
Common Stock		$      149,100.00	=7100*21
Sales Revenue		$        71,335.00	=8500+62835
Cost of Goods sold	$      30,340.00		30340
Salaries and Wages Expense	$      28,065.00		28065
Insurance Expense	$            875.00		=2100*5/12
Interest Expense	$        7,328.75		=226200*4.5%*5/12+260000*4.75%*3/12
Depreciation Expense	$        3,725.00		=348000/40*5/12+2400/10*5/12
Total	$    745,573.75	$      745,573.75