Question

Cougar Trike Bikes Trial Balance December 31.2018 Account Debit Credit Cash Accounts Receivable Allowance for Uncollectible Accounts Merchandise Inventory Supplies Estimated Returns Inventory Accounts Payable Notes Payable .500 Deferred (Unearned Revenue) Salaries Payable 415 Refunds Payable Interest Payable Safety Contingency Liability Common Stock Retained Earnings Sales Revenue 12,10 0 Salaries Expense Supplies Expense Cost of Goods Sold Bad Debt Expense Interest Expense Safety Contingency Loss (Expense) Total 152,77 152,775 50,00 150,400 2 37S

How would I plug information in with information given. Let me Know what information you need. Calculations are wrong but I just dont know what goes on part 7 and 8.

It does not matter if the balances are not correct. I get points for trying/completing the assignment rather than getting everything right. I just dont know what goes where

Answer 1

Cougar trike Bikes Multi step Income statement For Year End December 2018

Particulars	Amount	Amount
Revenue
Sales Revenue		81600
Less Cost Of Goods sold		38000
Gross Profit		43600
Expenses (less)
Salaries expenses (12100-1000	12000
Supplies Expenses	0
Bad Debt Expenses	0
Total operating Expense		12000
Operating Income (add)		31600
Interest Expenses	0
Safety Contigencies loss	0
Income before Income tax		31600
Income Tax expenses
Net Income		31600

Cougar trike Bikes Statement Of Retained Earnigs For Year End December 2018

PARTICULARS	AMOUNT
Beginning Balance Jan 1 2018	0
Add Net Income	31600
End Balance as on 310dec 2018	31600