Question

LA MULUI Trial Balance 11/30/17 Dr 112.000 127,000 Cash Accounts Receivable Allowance for Doubtful Accounts Short Term Note Receivable Supplies 1.000 50,000 55.000 62,000 75,000 32,000 94,000 12,000 0 0 12,000 30.000 O 150.000 16,840 105,000 86,000 1,000 50,000 0 Equipment Building Accumulated Depreciation Copyright Accounts Payable Dividends Payable Interest Payable Unearned Revenue ST Note Payable LT Mortgage Payable Bonds Payable Premium on Bonds Payable Common Stock - $1.75 par Paid In Capital In Excess of Par-CS Preferred Stock - $5 par Paid In Capital In Excess of Par-PS Treasury Stock Retained Earnings Dividends Sales Revenue Sales Returns & Allowances Sales Discounts Cost of Goods Sold Bad Debts Expense Depreciation Expense Wages Expense Rent Expense Insurance Expense Supplies Expense Interest Revenue Interest Expense Gain on Sale of Equipment Income Tax Expense Total 3,500 2.000 490,160 7,000 3,000 46,000 5,000 16,000 160,000 98,000 25,000 16,000 1.000 6,500 15,000 46,000 1,005,500 1,005,500

Answer 1

Answer:

Date Debit ($) Credit ($) 300,000 3,00,000 Dec.01 6,000 1,500 4,500 Dec.25 183,000 Dec.29 1,83,000 1,800 2,000 General Journal Building LT mortgage payable Cash Common stock (1,000 * $1.5) Paid-in capital Dividend [(90,000 / $1.50) +1,000) * $3.00 Dividend payable LT mortgage payable Interest expense (300,000*8%/12) Cash Interest expense (26,250*8%*2/12) Interest payable Interest expense (350,000+26,840)*8% Premium on bond payable Interest payable (350,000*10%) Unearned revenue Sales revenue Treasury stock Cash Dec.31 3,800 350 Dec.31 350 30,147 4,853 Dec.31 35,000 8,000 Dec.31 8,000 550 Dec.31 550

ADJUSTED TRIAL BALANCE
Account	Debit	Credit
Cash	$   2,73,650
Account receivable	1,14,500
Allowance for doubtful account		$            1,000
Short term notes receivable	50,000
Supplies	55,000
Inventory	62,000
Equipment	75,000
Building	3,00,000
Accumulated depreciation		32,000
Copyright	1,00,000
Account payable		12,000
Dividend payable		1,83,000
Interest payable		35,350
Unearned revenue		10,000
ST notes payable		26,250
LT mortgage payable		2,98,200
Bonds payable		3,50,000
Premium on bonds payable		21,987
Common stock		91,500
Paid in capital in excess of par-CS		90,500
Preferred stock		1,000
Paid in capital in excess of par-PS		50,000
Treasury stock	550
Retained earnings		3,500
Dividends	1,85,000
Sales revenue		4,51,910
Sales return & allowance	7,000
Sales discount	3,000
Cost of goods sold	46,000
Bad debts expense	5,000
Depreciation expense	16,000
Wages expense	1,57,500
Rent expense	98,000
Insurance expense	25,000
Supplies expense	16,000
Interest revenue		1,000
Interest expense	38,997
Gain on sale of equipment		15,000
Income tax expense	46,000
Total	$ 16,74,197	$    16,74,197