The Adjusted Trial Balance section of the worksheet for Harmon Farm Supply follows. The owner made no additional investments during the year. Prepare a postclosing trial balance for the firm on December 31, 2013.
ACCOUNTS
| Debit | Credit |
Cash | $ 18,600 |
|
Accounts Receivable | 59,800 |
|
Allowance for Doubtful Accounts |
| $ 120 |
Merchandise Inventory | 186,200 |
|
Supplies | 7,140 |
|
Prepaid Insurance | 3,060 |
|
Equipment | 51,000 |
|
Accumulated Depreciation—Equipment |
| 17,800 |
Notes Payable |
| 9,500 |
Accounts Payable |
| 8,700 |
Social Security Tax Payable |
| 1,392 |
Medicare Tax Payable |
| 324 |
Ken Harmon, Capital |
| 267,964 |
Ken Harmon, Drawing | 74,000 |
|
Income Summary | 180,000 | 186,200 |
Sales |
| 773,000 |
Sales Returns and Allowances | 14,400 |
|
Purchases | 486,900 |
|
Freight In | 5,400 |
|
Purchases Returns and Allowances |
| 8,500 |
Purchases Discounts |
| 5,300 |
Rent Expense | 33,800 |
|
Telephone Expense | 6,246 |
|
Salaries Expense | 123,140 |
|
Payroll Taxes Expense | 11,734 |
|
Supplies Expense | 6,600 |
|
Insurance Expense | 1,560 |
|
Depreciation Expense—Equipment | 8,100 |
|
Uncollectible Accounts Expense | 1,120 |
|
Totals | $1,278,800 | $1,278,800 |
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.