Question

Please create an income statement, balance sheet, and statement of stockholder's equity according to the adjusted trial balance columns.

A Byte of Accounting, Inc. Worksheet For Period Ending December 31, 2018 Income Statement Debit Credit Balance Sheet Debit Credit Adiusting Entries Debit Credit 25.00 - 8,105.00 - 1.447.50 269.00 Unadiusted Trial Balance Debit Credit 258,208.20 23,662.00 5,090.00 6,456.00 2.600.00 3,400.00 2.225.00 64,100.00 6.100.00 22,000.00 4.400.00 14.276.00 8,715.00 118.00 Account Number Name 1110 Cash 1120 Accounts Receivable 1121 Allowance for Doubtful Accounts 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Supplies 1160 Inventory 1211 Office Equipment 1212 Accum. Depr.-Office Equip. 1311 Computer Equipment 1312 Accum. Depr.-Computer Equip. 2101 Accounts Payable 2102 Unearned Revenue 2103 Interest Payable 2105 Salaries and Wages Payable 2106 lincome Taxes Payable 2202 Notes Payable 2210 Bond Payable 2212 Premium on Bond Payable 3100 Common Stock 31201 Paid-In Capital in Excess of Par 3200 Retained Earnings 3300 Dividends - 6,186.25 Adiusted Trial Balance Debit Credit 258,233.20 31.767.00 3.642.50 6,187.00 2.600.00 3,282.00 2.225.00 64,100.00 12,286.25 22,000.00 8.800.00 18.34 1.00 8,715.00 22.95 1.320.00 9,891.72 4.590.00 4.400.00 4,065.00 22.95 1.320.00 9.891.72 4,590.00 192,659,64 66.600.00 14.800.00 24,000.00 192,659.64 66.600.00 14.800.00 24,000.00 2,115.00 2,115.00 440,932.00 8.130.00 449,062.00 1,320.00 31,200.00 103.400.00 4.610.00 15,055.00 4 100 | Sales Revenue 50101 Rent Expense 5020 Salaries and Wages Expense 5030 Advertising Expense 5040 Maintenance & Repairs Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense 5120 Bad Debt Expense 5140 Telephone and Internet Expense 5150 lincome Tax Expense 5300 Cost of Goods Sold 8,369.44 118.00 22.95 269.00 10,586.25 1,447.50 31,200.00 104.720.00 4.610.00 15.055.00 118.00 8.392.39 269.00 10.586.25 1.447.50 6.020.00 9,891.72 227,077.00 6,020.00 223,012.00 9,891.72 4,065.00 779,297.64 779,297.64 35,850.42 35,850.42 813,313.56 813,313.56 TOTAL NET INCOME Balance

Answer 1

Profit & Loss:

File Share Bar = Home Insert Page Layout Formulas Cut Calibri -11 A A Be Copy Format Painter B I U H- " A Clipboard Font Working 1 - Excel Data Review View Tell me what you want to do... === ? 6 Wrap Text General - E E Merge & Center - 0 % , 8. Alignment Number P AutoSum D Conditional Format as Cell Formatting* Table Styles Styles Paste Samrat Das Ay Sort & Find & Filter - Select Editing X 0 Insert Delete Format - Cells Clear B1 E X for Profit & Loss Account for the period 1.1.18 to 31.12.18 E F G H I K L M N O A TcD Profit & Loss Account for the period 1.1.18 to 31.12.18 Particulars Amount Sales Revenue 4,49,062.00 Less: Cost of Goods Sold 2,27,077.00 Gross Profit 2,21,985.00 Less: Salary & wages Exp 1,04,720.00 Less: Rent Exp 31,200.00 Less: Maintenance & Repair exp 15,055.00 Less: Supplies Exp 118.00 Less: Advirtisement Exp 4,610.00 Less: Insurance Exp 269.00 Less: Baddebt exp 1,447.50 Less: Telephone & internet Exp 6,020.00 Earnings before interest, tax, depreciation and amortization (EBITDA) 58,545.50 Less: Depreciation Exp 10,586.25 Earnings before interest & tax (EBIT) 47,959.25 Less: Interest Exp 8,392.39 Earnings before Tax (EBT) 39,566.86 Less: Income Tax Exp 9,891.72 Profit after Tax (PAT) 29,675.14 Sheet1 PL BS EQUITY RECONCILIATION Ready @ -- 02:04 1 D e s x] w og 9 A D ? )) ENG 29-11-2019

Balance sheet:

Working 1 - Excel Tell me what you want to do... Data Review View Share File . Calibri -11 A A === 2 & Wrap Text Accounting I D o Home Insert Page Layout Formulas Cut Le Copy Format Painter BIU - - > - A Clipboard G Font X foc -2115 Samrat Das AutoSum" AY O Sort & Find & Clear Filter Select Editing Paste E Merge & Center - 0 % , .08 Conditional Format as Cell Formatting* Table Styles Styles Insert Delete Format - Cells Alignment Number D10 4 A G I H I J K L M N O P A Amount Amount 2,58,233.20 Liability Particulars EQUITY AND LIABILITIES CAPITAL AND RESERVES Common Stock Paid in capital excess of par Retained earnings Add: Retained earnings (Pnl portion) Dividend TOTAL EQUITY OF THE COMPANY DE Balance Sheet on dated 31.12.18 Assets Amount Amount Particulars CURRENT ASSETS Cash 66,600.00 || Accounts receivable 14,800.00 Add: Allowance for doubtfull allowance 24,000.00 Prepaid Insurance 29,675.14 53,675.14|Prepaid Rent -2,115.00 Supplies 1,32,960.14 || Inventory Total Currect Assets 31,767.00 3,642.50 35,409.50 6,187.00 2,600.00 3,282.00 -2,225.00 1,057.00 3,03,486.70 51,813.75 64,100.00 -12,286.25 22,000.00 -8,800.00 13,200.00 NON-CURRENT LIABILITIES Premium on Bond payable TOTAL NON-CURRENT LIABILITIES CURRENT LIABILITIES Accounts Payable Unearned Revinew Interest Payable Salaries & wages payable Income tax payable Notes payable TOTAL CURRENT LIABILITIES TOTAL LIABILITIES TOTAL EQUITY AND LIABILITIES 1,92,659.64||NON CURRENT ASSETS 1,92,659.64 |Office Equipment Accu. Dep on office equipment 18,341.00 | Computer equipment 8,715.00 || Accu. Dep on Computer equipment 22.95 1,320.00 TOTAL NON CURRENT ASSETS 9,891.72 4,590.00 42,880.67 2,35,540.31 3,68,500.45 TOTAL ASSETS 65,013.75 3,68,500.45 Sheet1 POL BS EQUITY RECONCILIATION Ready | H 90% 1 D e sx] wog 9 ||| A D || - + . 02:05 ? )) ENG 29-11-2019

Shareholders Equity:

Share Calibri Calibri - 10A === Samrat Das Auto SumĄY O D Paste 88 Copy Insert Delete Format - Cells Clear Select Filter Editing Working 1 - Excel File Home Insert Page Layout Formulas Data Review View Tell me what you want to do... . Cut 6 Wrap Text General B I U H- " Format Painter A E E Merge & Center - 0 % , 8. Conditional Format as Cell Formatting* Table Styles Clipboard Font Alignment Number Styles B1 Statement of share holders Equity B D E F G H Statement of Share holders Equity Common stock A Par value & capital Total stock in excess of par Stock balance: Beginning of period 66,600.00 66,600.00 5 Shares issued (Paid in capital excess of par) 14,800.00 14,800.00 Shares repurchased Balance: End of period 81,400.00 81,400.00 I J K L M N O 0.00 Retained earnings balance: Beginning of period Dividends paid Net earnings (loss) Balance: End of period 24,000.00 -2,115.00 29,675.14 51,560.14 Stock Retained earnings Total equity Beginning of period 66,600.00 24,000.00 90,600.00 End of period 81,400.00 51,560.14 1,32,960.14 Change 14,800.00 27,560.14 42,360.14 19 Sheet1 POL BS EQUITY RECONCILIATION + Ready 5 @ 1 D e sx] wi o 9 -- . 02:05 ? )) ENG 29-11-2019 A D