Question

Assume that you are an accountant at the provided company. Your manager provided you with the accounts balances for the year ended December 31, 2018. However, while you were preparing the trial balance and comparing numbers with the documents you have, you have found that some numbers are missing!

Use the following information to prepare a trial balance and figure out the missing numbers.

Cash	720,000	Interest revenue	215,000
Bonds payable	485,000	Sales discounts	70,000
Sales returns and allowances	80,000	Equipment	1,470,000
Land	480,000	Accounts payable	490,000
Buildings	1,640,000	Notes payable (to banks)	300,000
Unsecured notes payable (long-term)	1,600,000	Notes receivable	445,700
Administrative and general expenses	220,000	Payroll taxes payable	177,591
Interest expense	175,750	Accumulated depreciation— equipment	292,000
Loss from impairment of plant assets Share capital— ordinary	85,000	Rent payable (short-term)	45,000
Income taxes receivable	97,630	Long-term rental obligations	531,700
Accumulated depreciation- Buildings	270,200	Share capital—ordinary, €1 par value	200,000
Income taxes payable	98,362	Trading securities	70,000
Share capital—preference, €10 par value	150,000	Goodwill	192,420
Prepaid expenses	20,200	Selling expenses	100,000
Retained earnings	?

Hind Althumairi

Purchases and sales transactions during the year were as follows:

Transaction date	purchases		date	sales
	units	Unit price		units	Unit price
1/1/18	30000	30	4/1/18	30000	35.00
3/4/18	15000	30.08	9/4/18	15000	36.00
6/5/18	7000	30.4	23/5/2018	3000	37.00
7/6/18	3500	30.5	4/6/18	1400	39.00
21/8/18	8000	30.8	23/11/18	10600	40.00
19/11/18	5000	30.9

If you also knew that accounts receivable at the beginning of the year had a balance of $950,000, allowance for doubtful accounts had a credit balance of $15,000. Management estimates that 9% of receivables will be uncollectable. During the year, management wrote off a $75,000 balance owed by the corporation.

Answer 1

Acconts Debit Crcdlt Cash cin 0 income to\YGtNable. $ 97,630 270,20o 862 150,000 income tey Payebic 2.0, 200 Accountうfoyabre 300,000 292,000 en

Rent Puye ho s 531,700 S2.00o ading Secvite Grood win รุ่ 496,097 Totat Ju638S3 Retoune d· Earning 96,091

Coversin retained. Samin balance 22.goo0 21S000